RTX Corporation (NYSE:RTX) Shares Purchased by MONECO Advisors LLC

Key Points

• MONECO Advisors LLC increased its stake in RTX Corporation by 15%, bringing its total shares to 14,019, valued at approximately $1.86 million as of the last SEC filing.
• RTX reported earnings of $1.56 per share for the last quarter, exceeding analyst expectations of $1.45, and achieving a revenue of $21.58 billion, up 9.4% year-over-year.
• The company declared a quarterly dividend of $0.68 per share, to be paid on September 4th, representing an annualized yield of 1.7% with a payout ratio of about 59.78%.

MONECO Advisors LLC lifted its position in RTX Corporation (NYSE:RTX - Free Report) by 15.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,019 shares of the company's stock after acquiring an additional 1,829 shares during the period. MONECO Advisors LLC's holdings in RTX were worth $1,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in RTX by 24.3% in the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock valued at $1,969,000 after purchasing an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in RTX by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock valued at $564,000 after purchasing an additional 159 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in RTX by 51.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 262,074 shares of the company's stock valued at $30,327,000 after purchasing an additional 88,604 shares during the last quarter. Trexquant Investment LP boosted its holdings in RTX by 43.5% in the fourth quarter. Trexquant Investment LP now owns 47,774 shares of the company's stock valued at $5,528,000 after purchasing an additional 14,472 shares during the last quarter. Finally, OneAscent Financial Services LLC boosted its holdings in RTX by 47.6% in the fourth quarter. OneAscent Financial Services LLC now owns 3,218 shares of the company's stock valued at $372,000 after purchasing an additional 1,038 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Trading Down 0.6%

Shares of RTX stock opened at $157.51 on Friday. The firm has a market capitalization of $210.83 billion, a PE ratio of 34.62, a P/E/G ratio of 2.92 and a beta of 0.64. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $158.79. The firm's 50-day moving average price is $145.20 and its 200 day moving average price is $133.94. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60.

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

RTX Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 1.7%. RTX's dividend payout ratio (DPR) is 59.78%.

Insider Buying and Selling at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction that occurred 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 directly owned 9,546 shares of the company's stock, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Kevin G. Dasilva sold 8,704 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the completion of the transaction, the vice president directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,234 shares of company stock valued at $4,439,755. Company insiders own 0.15% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on RTX. Jefferies Financial Group reaffirmed a "hold" rating on shares of RTX in a report on Monday, July 21st. Barclays lifted their target price on shares of RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a report on Tuesday. Susquehanna lifted their target price on shares of RTX from $160.00 to $175.00 and gave the company a "positive" rating in a report on Wednesday, July 23rd. Cowen reissued a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Finally, Sanford C. Bernstein set a $154.00 target price on shares of RTX and gave the stock a "market perform" rating in a research note on Friday, July 11th. Six research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $158.67.

RTX Company 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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