Savvy Advisors Inc. Purchases 1,733 Shares of RTX Corporation (NYSE:RTX)

Key Points

• Savvy Advisors Inc. increased its position in RTX Corporation by 20.3%, now owning 10,250 shares valued at approximately $1.36 million.
• Several institutional investors, including Guardian Wealth Advisors and Foster Victor Wealth Advisors, have also recently modified their holdings in RTX, indicating a strong interest in the stock.
• RTX Corporation reported $21.58 billion in revenue for the last quarter and announced a quarterly dividend of $0.68 per share, with a yield of 1.8%.

Savvy Advisors Inc. grew its stake in RTX Corporation (NYSE:RTX - Free Report) by 20.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,250 shares of the company's stock after purchasing an additional 1,733 shares during the quarter. Savvy Advisors Inc.'s holdings in RTX were worth $1,358,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. MorganRosel Wealth Management LLC acquired a new stake in RTX during the 1st quarter worth $26,000. 10Elms LLP acquired a new stake in RTX during the 4th quarter worth $29,000. Greenline Partners LLC acquired a new stake in RTX during the 4th quarter worth $34,000. McClarren Financial Advisors Inc. acquired a new stake in RTX during the 1st quarter worth $44,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in RTX during the 4th quarter worth $43,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on RTX. Cowen reaffirmed a "buy" rating on shares of RTX in a research note on Friday, May 23rd. JPMorgan Chase & Co. raised their price objective on RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada reiterated an "outperform" rating and set a $170.00 target price (up previously from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Susquehanna increased their target price on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. Finally, Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a report on Wednesday, May 14th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $158.67.

RTX Stock Down 0.0%

Shares of RTX stock traded down $0.02 during trading hours on Monday, reaching $154.84. 3,572,241 shares of the company's stock were exchanged, compared to its average volume of 5,106,436. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $158.79. The stock has a market cap of $207.25 billion, a P/E ratio of 25.72, a P/E/G ratio of 2.85 and a beta of 0.69. The company has a 50 day moving average of $147.87 and a two-hundred day moving average of $135.53. 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 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 net margin of 7.35% and a return on equity of 12.89%. The business 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 business posted $1.41 EPS. RTX's revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts forecast that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.8%. RTX's dividend payout ratio (DPR) is presently 59.78%.

Insider Activity at RTX

In other RTX news, EVP Ramsaran Maharajh sold 1,462 shares of the firm's stock in a transaction that occurred 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 trade represents a 9.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 sale, the vice president owned 30,004 shares of the company's stock, 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 three months, insiders have sold 39,935 shares of company stock valued at $5,938,488. 0.15% of the stock is currently owned by insiders.

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.