South Plains Financial Inc. Boosts Holdings in RTX Corporation $RTX

Key Points

• South Plains Financial Inc. has increased its stake in RTX Corporation by 57.1%, owning a total of 4,916 shares worth approximately $651,000 as of the most recent quarter.
• Insider sales have been notable, with VP Kevin G. Dasilva selling 8,704 shares for over $1.35 million and EVP Dantaya M. Williams selling 16,922 shares for around $2.33 million.
• Analysts have mixed views on RTX, with three analysts rating it a Strong Buy while others have issued Buy and Hold ratings, indicating an average target price of $158.67.

South Plains Financial Inc. increased its holdings in RTX Corporation (NYSE:RTX - Free Report) by 57.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,916 shares of the company's stock after acquiring an additional 1,786 shares during the quarter. South Plains Financial Inc.'s holdings in RTX were worth $651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of RTX by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock worth $15,873,541,000 after acquiring an additional 1,357,328 shares in the last quarter. Northern Trust Corp increased its stake in shares of RTX by 8.4% in the 4th quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock worth $1,494,257,000 after acquiring an additional 997,806 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of RTX by 1.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,351,568 shares of the company's stock worth $1,371,171,000 after acquiring an additional 104,139 shares in the last quarter. Invesco Ltd. increased its stake in shares of RTX by 1.5% in the 1st quarter. Invesco Ltd. now owns 10,312,313 shares of the company's stock worth $1,365,969,000 after acquiring an additional 154,544 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of RTX by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,713,131 shares of the company's stock worth $1,021,623,000 after acquiring an additional 65,493 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Performance

Shares of NYSE RTX traded up $0.41 during trading on Wednesday, reaching $159.98. 2,991,223 shares of the company traded hands, compared to its average volume of 3,969,021. The firm has a 50 day simple moving average of $151.66 and a 200-day simple moving average of $137.96. 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 stock has a market capitalization of $214.14 billion, a PE ratio of 35.16, a P/E/G ratio of 2.94 and a beta of 0.69. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $160.21.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) 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 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 last year, the firm posted $1.41 EPS. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Equities research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The business also recently declared 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 1.7%. RTX's payout ratio is presently 59.78%.

Analysts Set New Price Targets

Several brokerages recently issued reports on RTX. Susquehanna increased their price target on shares of RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. UBS Group raised their price objective on shares of RTX from $166.00 to $177.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. 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. Barclays raised their price objective on shares of RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Finally, Cowen restated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $158.67.

Insider Activity

In other news, EVP Ramsaran Maharajh sold 1,462 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the sale, the executive vice president owned 13,184 shares of the company's stock, valued at $2,007,395.84. This trade represents a 9.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm'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 sale, the executive vice president directly owned 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,589 shares of company stock worth $7,126,389. 0.15% of the stock is owned by corporate insiders.

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.