Resona Asset Management Co. Ltd. Increases Position in RTX Corporation (NYSE:RTX)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in RTX Corporation by 7.9%, owning 422,903 shares valued at $55.97 million after acquiring an additional 30,970 shares during the first quarter.
• RTX recently reported quarterly earnings of $1.56 per share, exceeding estimates, with a revenue of $21.58 billion, marking a 9.4% year-over-year increase.
• The company declared a quarterly dividend of $0.68, representing an annualized dividend yield of 1.8% with a payout ratio of 59.78%.

Resona Asset Management Co. Ltd. increased its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 7.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 422,903 shares of the company's stock after acquiring an additional 30,970 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in RTX were worth $55,971,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RTX. Brighton Jones LLC raised its stake in RTX by 24.3% during the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock worth $1,969,000 after acquiring an additional 3,332 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in RTX by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock worth $564,000 after acquiring an additional 159 shares in the last quarter. SageView Advisory Group LLC raised its stake in RTX by 17.6% during the 4th quarter. SageView Advisory Group LLC now owns 14,033 shares of the company's stock worth $1,624,000 after acquiring an additional 2,099 shares in the last quarter. Mariner LLC raised its stake in RTX by 3.4% during the 4th quarter. Mariner LLC now owns 387,389 shares of the company's stock worth $44,828,000 after acquiring an additional 12,778 shares in the last quarter. Finally, CreativeOne Wealth LLC raised its stake in RTX by 13.2% during the 4th quarter. CreativeOne Wealth LLC now owns 20,463 shares of the company's stock worth $2,368,000 after acquiring an additional 2,391 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Down 0.0%

Shares of NYSE:RTX opened at $154.84 on Tuesday. The company has a market cap of $207.25 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 2.85 and a beta of 0.69. The firm's 50-day simple moving average is $148.22 and its 200-day simple moving average is $135.73. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $158.79.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.11. The business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 earnings per share. As a group, equities research analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.8%. RTX's dividend payout ratio (DPR) is 59.78%.

Insider Activity at RTX

In related news, VP Kevin G. Dasilva sold 8,704 shares of the firm's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $156.20, for a total value of $1,359,564.80. Following the completion of the sale, the vice president owned 30,004 shares in the company, valued at $4,686,624.80. This trade represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Philip J. Jasper sold 12,847 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the completion of the sale, the insider owned 17,684 shares of the company's stock, valued at $2,790,888.88. This trade represents a 42.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,935 shares of company stock worth $5,938,488 over the last three months. 0.15% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on RTX shares. Cowen reiterated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Royal Bank Of Canada reiterated an "outperform" rating and set a $170.00 price target (up from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Bank of America raised their price objective on shares of RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective on the stock in a research report on Friday, April 25th. Finally, Wall Street Zen downgraded shares of RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $158.67.

About RTX

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.

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