Fox Hill Wealth Management Increases Stake in RTX Corporation (NYSE:RTX)

Key Points

• Fox Hill Wealth Management increased its stake in RTX Corporation by 71.6% in Q1, owning 9,719 shares valued at $1,287,000.
• RTX reported $1.56 earnings per share, surpassing estimates and indicating a 9.4% year-over-year revenue increase to $21.58 billion for the quarter.
• The company declared a quarterly dividend of $0.68, with a yield of 1.7%, scheduled for payment on September 4th.

Fox Hill Wealth Management increased its position in RTX Corporation (NYSE:RTX - Free Report) by 71.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,719 shares of the company's stock after buying an additional 4,055 shares during the period. Fox Hill Wealth Management's holdings in RTX were worth $1,287,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Guardian Wealth Advisors LLC NC grew its stake in RTX by 1.7% in the 4th quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock worth $576,000 after acquiring an additional 82 shares in the last quarter. Foster Victor Wealth Advisors LLC grew its position in RTX by 2.1% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock worth $505,000 after purchasing an additional 82 shares during the last quarter. Weatherly Asset Management L. P. grew its position in RTX by 0.4% during the 1st quarter. Weatherly Asset Management L. P. now owns 20,888 shares of the company's stock worth $2,767,000 after purchasing an additional 82 shares during the last quarter. CLG LLC grew its position in RTX by 2.3% during the 1st quarter. CLG LLC now owns 3,686 shares of the company's stock worth $488,000 after purchasing an additional 83 shares during the last quarter. Finally, Lcnb Corp grew its position in RTX by 1.2% during the 1st quarter. Lcnb Corp now owns 7,117 shares of the company's stock worth $943,000 after purchasing an additional 83 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at RTX

In related news, VP Kevin G. Dasilva sold 8,704 shares of RTX stock in a transaction on 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 sale, the vice president owned 30,004 shares of the company's stock, valued at approximately $4,686,624.80. This trade represents a 22.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the completion of the sale, the executive vice president directly owned 13,184 shares in the company, valued at $2,007,395.84. This represents a 9.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,589 shares of company stock worth $7,126,389 in the last ninety days. Company insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Royal Bank Of Canada reissued an "outperform" rating and set a $170.00 target price (up previously from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Sanford C. Bernstein set a $154.00 price objective on shares of RTX and gave the company a "market perform" rating in a research note on Friday, July 11th. Citigroup lifted their price objective on shares of RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a research note on Wednesday, May 14th. Finally, Susquehanna lifted their price objective on shares of RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.67.

RTX Stock Performance

Shares of NYSE:RTX traded down $0.46 during trading on Thursday, hitting $155.25. 2,766,508 shares of the stock traded hands, compared to its average volume of 5,066,212. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The company has a market cap of $207.81 billion, a price-to-earnings ratio of 34.12, a P/E/G ratio of 2.87 and a beta of 0.69. The company has a fifty day moving average price of $149.25 and a two-hundred day moving average price of $136.22. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $158.79.

RTX (NYSE:RTX - Get Free Report) last posted 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 firm had revenue of $21.58 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.41 EPS. As a group, equities analysts predict that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 1.8%. RTX's dividend payout ratio is currently 59.78%.

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.