Northwestern Mutual Wealth Management Co. Buys 23,560 Shares of RTX Corporation $RTX

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in RTX Corporation by 3.9%, owning 629,431 shares valued at approximately $83.4 million as of their latest SEC filing.
• Bank of America and Citigroup have both raised their price targets for RTX shares, with the former increasing it from $150.00 to $175.00, reflecting a strong analyst sentiment with the majority rating the stock as a "buy."
• RTX announced a quarterly dividend of $0.68 per share, representing an annual yield of 1.7%, reaffirming its commitment to shareholder returns.

Northwestern Mutual Wealth Management Co. increased its stake in RTX Corporation (NYSE:RTX - Free Report) by 3.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 629,431 shares of the company's stock after purchasing an additional 23,560 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in RTX were worth $83,375,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of RTX. Nuveen LLC bought a new stake in RTX in the 1st quarter valued at approximately $916,739,000. GAMMA Investing LLC lifted its position in shares of RTX by 14,838.5% in the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock worth $551,460,000 after purchasing an additional 4,135,349 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in RTX by 28.0% during the first quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company's stock worth $845,784,000 after purchasing an additional 1,394,918 shares during the last quarter. Vanguard Group Inc. increased its stake in RTX by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock valued at $15,873,541,000 after buying an additional 1,357,328 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new stake in RTX during the 4th quarter worth about $138,585,000. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Stock Performance

RTX stock traded up $0.92 during midday trading on Thursday, hitting $160.76. The company's stock had a trading volume of 3,068,984 shares, compared to its average volume of 5,206,267. 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 1-year low of $112.27 and a 1-year high of $161.26. The company has a 50-day moving average price of $151.66 and a two-hundred day moving average price of $137.96. The company has a market cap of $215.18 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 2.94 and a beta of 0.69.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%.The business had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $20.68 billion. During the same period in the previous year, the company posted $1.41 earnings per share. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, sell-side analysts predict that RTX Corporation will post 6.11 earnings per share 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 1.7%. The ex-dividend date of this dividend is Friday, August 15th. RTX's payout ratio is 59.78%.

Insider Buying and Selling at RTX

In related news, VP Kevin G. Dasilva sold 8,704 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the sale, the vice president owned 30,004 shares in the company, 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 SEC, which is accessible through this link. Also, insider Troy D. Brunk sold 7,654 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the transaction, the insider owned 16,442 shares of the company's stock, valued at approximately $2,551,798.40. This represents a 31.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,589 shares of company stock valued at $7,126,389 over the last three months. 0.15% of the stock is owned by insiders.

Analyst Ratings Changes

RTX has been the topic of several analyst reports. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 target price on the stock in a report on Wednesday, May 14th. Wall Street Zen cut shares of RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. The Goldman Sachs Group upped their price target on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research report on Monday, June 23rd. Royal Bank Of Canada restated an "outperform" rating and set a $170.00 price objective (up from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Finally, Sanford C. Bernstein set a $154.00 price target on RTX and gave the stock a "market perform" rating in a report on Friday, July 11th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.