Security National Bank Purchases 26,785 Shares of RTX Corporation $RTX

Key Points

• Security National Bank increased its stake in RTX Corporation by 120.4%, owning 49,033 shares worth approximately $7.16 million, making it the bank's 21st largest position.
• The company reported $1.56 EPS for the last quarter, beating estimates by $0.11, with a revenue of $21.58 billion, reflecting a 9.4% increase year-over-year.
• RTX announced a quarterly dividend of $0.68 per share, resulting in an annualized yield of 1.7% and a payout ratio of approximately 59.78%.

Security National Bank raised its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 120.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,033 shares of the company's stock after acquiring an additional 26,785 shares during the quarter. RTX comprises 1.2% of Security National Bank's investment portfolio, making the stock its 21st biggest holding. Security National Bank's holdings in RTX were worth $7,160,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global Financial Private Client LLC boosted its holdings in RTX by 35.8% in the 2nd quarter. Global Financial Private Client LLC now owns 8,865 shares of the company's stock valued at $1,294,000 after purchasing an additional 2,339 shares during the period. HF Advisory Group LLC raised its stake in shares of RTX by 15.5% in the second quarter. HF Advisory Group LLC now owns 18,312 shares of the company's stock valued at $2,674,000 after acquiring an additional 2,452 shares during the period. Rockland Trust Co. increased its stake in RTX by 50.6% in the 2nd quarter. Rockland Trust Co. now owns 9,156 shares of the company's stock worth $1,337,000 after buying an additional 3,075 shares during the period. ARS Wealth Advisors Group LLC purchased a new position in RTX during the 2nd quarter worth approximately $3,919,000. Finally, Contravisory Investment Management Inc. increased its holdings in RTX by 1,523.7% in the 2nd quarter. Contravisory Investment Management Inc. now owns 66,084 shares of the company's stock worth $9,650,000 after acquiring an additional 62,014 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RTX shares. Susquehanna increased their price objective on RTX from $160.00 to $175.00 and gave the company a "positive" rating in a report on Wednesday, July 23rd. Sanford C. Bernstein boosted their price target on RTX from $154.00 to $157.00 and gave the stock a "market perform" rating in a research report on Wednesday, September 10th. Bank of America boosted their price target on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Wall Street Zen lowered RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of RTX in a report on Monday, July 21st. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, RTX presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.87.

RTX Stock Up 0.3%

Shares of NYSE RTX traded up $0.48 during trading hours on Tuesday, hitting $159.91. 531,878 shares of the stock were exchanged, compared to its average volume of 5,105,102. The company has a market cap of $214.05 billion, a PE ratio of 35.19, a PEG ratio of 2.92 and a beta of 0.67. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $161.40. The firm has a fifty day moving average price of $156.07 and a 200-day moving average price of $141.92. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX - Get Free Report) last announced 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 for the quarter, compared to analyst estimates of $20.68 billion. During the same quarter last year, the business earned $1.41 earnings per share. The company'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. On average, sell-side analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, August 15th. RTX's payout ratio is 59.78%.

Insider Activity

In other RTX news, insider Troy D. Brunk sold 7,654 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total value of $1,187,900.80. Following the completion of the sale, the insider directly owned 16,442 shares of the company's stock, valued at approximately $2,551,798.40. This represents a 31.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ramsaran Maharajh sold 1,462 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total value of $222,604.12. Following the transaction, the executive vice president owned 13,184 shares in the company, valued at approximately $2,007,395.84. This trade represents a 9.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,635 shares of company stock worth $8,947,010 over the last three months. Insiders own 0.15% of the company's stock.

About RTX

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.