RTX Corporation (NYSE:RTX) Shares Acquired by Invesco Ltd.

Key Points

• Invesco Ltd. increased its holdings in RTX Corporation by 1.5%, holding over 10 million shares valued at approximately $1.37 billion, according to recent SEC filings.
• RTX Corporation reported a 9.4% increase in revenue year-over-year, with earnings per share of $1.56 for the last quarter, surpassing estimates of $1.45.
• The company announced a quarterly dividend of $0.68 per share, reflecting a 1.8% yield, to be paid on September 4th.

Invesco Ltd. boosted its holdings in RTX Corporation (NYSE:RTX - Free Report) by 1.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,312,313 shares of the company's stock after acquiring an additional 154,544 shares during the period. Invesco Ltd. owned 0.77% of RTX worth $1,365,969,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Robinson Smith Wealth Advisors LLC lifted its holdings in RTX by 5.2% in the first quarter. Robinson Smith Wealth Advisors LLC now owns 8,449 shares of the company's stock valued at $1,119,000 after acquiring an additional 420 shares during the last quarter. Berger Financial Group Inc acquired a new position in RTX in the first quarter valued at approximately $223,000. Sierra Summit Advisors LLC lifted its holdings in RTX by 2.3% in the first quarter. Sierra Summit Advisors LLC now owns 5,672 shares of the company's stock valued at $751,000 after acquiring an additional 127 shares during the last quarter. Fiduciary Family Office LLC acquired a new position in RTX in the first quarter valued at approximately $1,117,000. Finally, True North Advisors LLC lifted its holdings in RTX by 18.9% in the first quarter. True North Advisors LLC now owns 5,192 shares of the company's stock valued at $688,000 after acquiring an additional 827 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Performance

NYSE:RTX opened at $154.98 on Friday. The firm has a market capitalization of $207.45 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 2.87 and a beta of 0.69. The business's fifty day moving average price is $147.87 and its 200 day moving average price is $135.39. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $158.79.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.45 by $0.11. The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. RTX's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.41 earnings per share. On average, sell-side analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

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

Insider Activity at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, the executive vice president owned 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Philip J. Jasper sold 12,847 shares of RTX stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $157.82, for a total value of $2,027,513.54. Following the sale, the insider owned 17,684 shares in the company, 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. Over the last three months, insiders have sold 39,935 shares of company stock worth $5,938,488. Insiders own 0.15% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Susquehanna boosted their target price on RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Bank of America boosted their target price on RTX from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Sanford C. Bernstein set a $154.00 target price on RTX and gave the company a "market perform" rating in a research report on Friday, July 11th. Wall Street Zen lowered RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 target price on the stock in a research report on Wednesday, May 14th. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $158.67.

RTX Profile

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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