Alteri Wealth LLC Acquires 1,964 Shares of RTX Corporation (NYSE:RTX)

Key Points

• Alteri Wealth LLC has increased its stake in RTX Corporation by 19.8%, now owning 11,907 shares worth approximately $1.58 million.
• RTX Corporation reported a quarterly earnings per share (EPS) of $1.56, exceeding analyst expectations by $0.11, with revenues of $21.58 billion marking a 9.4% year-over-year increase.
• The company announced a quarterly dividend of $0.68 per share, representing an annualized dividend yield of 1.73%.

Alteri Wealth LLC lifted its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 19.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,907 shares of the company's stock after acquiring an additional 1,964 shares during the period. RTX makes up 0.7% of Alteri Wealth LLC's holdings, making the stock its 26th biggest holding. Alteri Wealth LLC's holdings in RTX were worth $1,577,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bay Capital Advisors LLC bought a new stake in shares of RTX during the first quarter worth about $224,000. Dynamic Advisor Solutions LLC increased its position in shares of RTX by 8.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock worth $4,591,000 after acquiring an additional 2,686 shares in the last quarter. Brookwood Investment Group LLC bought a new stake in shares of RTX during the first quarter worth about $1,288,000. Deutsche Bank AG increased its position in shares of RTX by 46.0% during the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock worth $344,075,000 after acquiring an additional 936,953 shares in the last quarter. Finally, LBP AM SA grew its position in RTX by 17.7% in the 1st quarter. LBP AM SA now owns 279,179 shares of the company's stock worth $36,980,000 after purchasing an additional 41,990 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

Insider Buying and Selling at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president owned 9,546 shares in the company, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the transaction, the executive vice president owned 16,538 shares in the company, valued at $2,275,959.56. The trade was a 50.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,234 shares of company stock worth $4,439,755 in the last 90 days. 0.15% of the stock is owned by company insiders.

RTX Price Performance

NYSE:RTX traded down $0.82 during trading hours on Thursday, hitting $157.58. The stock had a trading volume of 2,313,504 shares, compared to its average volume of 5,387,045. The company has a 50 day simple moving average of $144.73 and a two-hundred day simple moving average of $133.67. 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 one year low of $112.27 and a one year high of $158.79. The firm has a market capitalization of $210.92 billion, a price-to-earnings ratio of 34.62, a P/E/G ratio of 2.89 and a beta of 0.64.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly 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. RTX had a net margin of 7.35% and a return on equity of 12.89%. The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. During the same period last year, the firm earned $1.41 EPS. The business's quarterly revenue was up 9.4% compared to the same quarter last year. Research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.73%. RTX's dividend payout ratio is currently 59.78%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Susquehanna upped their price objective on shares of RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Wall Street Zen downgraded shares of RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Sanford C. Bernstein set a $154.00 price objective on shares of RTX and gave the stock a "market perform" rating in a research report on Friday, July 11th. Cowen reaffirmed a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Finally, UBS Group upped their price objective on shares of RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, RTX presently 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.