Sowell Financial Services LLC Acquires 5,590 Shares of RTX Corporation $RTX

Key Points

• Sowell Financial Services LLC increased its stake in RTX Corporation by 35.7%, acquiring an additional 5,590 shares, resulting in a total holding of 21,255 shares worth approximately $3.1 million.
• Multiple analysts have raised their price targets for RTX stock, with Bank of America setting a new target of $175.00 and Morgan Stanley at $180.00, contributing to a current average target price of $158.87.
• RTX Corporation recently declared a quarterly dividend of $0.68 per share, translating to an annualized dividend of $2.72 and a yield of 1.7%.

Sowell Financial Services LLC increased its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 35.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,255 shares of the company's stock after acquiring an additional 5,590 shares during the period. Sowell Financial Services LLC's holdings in RTX were worth $3,104,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in RTX. MorganRosel Wealth Management LLC purchased a new stake in shares of RTX in the first quarter valued at $26,000. Summit Securities Group LLC acquired a new stake in shares of RTX in the first quarter worth $40,000. McClarren Financial Advisors Inc. bought a new position in RTX during the first quarter valued at about $44,000. Capital A Wealth Management LLC bought a new stake in shares of RTX in the 4th quarter valued at approximately $45,000. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of RTX in the 1st quarter valued at $50,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insider Buying and Selling at RTX

In other news, insider Troy D. Brunk sold 7,654 shares of the stock in a transaction dated 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 directly owned 16,442 shares in the company, valued at $2,551,798.40. This represents a 31.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Philip J. Jasper sold 12,847 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $157.82, for a total value of $2,027,513.54. Following the transaction, the insider owned 17,684 shares in the company, valued at $2,790,888.88. This trade represents a 42.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,635 shares of company stock worth $8,947,010. Company insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RTX shares. Barclays boosted 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, July 29th. JPMorgan Chase & Co. raised their price target on shares of RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Susquehanna lifted their target price 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. Bank of America raised their target price on RTX from $150.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, UBS Group boosted their price target on RTX from $166.00 to $177.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $158.87.

RTX Stock Performance

Shares of NYSE:RTX traded up $1.34 during mid-day trading on Monday, reaching $159.58. The company had a trading volume of 3,294,972 shares, compared to its average volume of 3,943,100. RTX Corporation has a one year low of $112.27 and a one year high of $161.26. The company's 50-day moving average price is $156.07 and its 200-day moving average price is $141.92. The firm has a market cap of $213.60 billion, a price-to-earnings ratio of 35.07, a PEG ratio of 2.92 and a beta of 0.67. 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, topping 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 company had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. During the same quarter last year, the company posted $1.41 earnings per share. The firm's quarterly revenue was up 9.4% on a year-over-year basis. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, equities research analysts anticipate that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

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

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.