Spreng Capital Management Inc. Invests $226,000 in RTX Corporation $RTX

Key Points

• Spreng Capital Management Inc. has acquired a new position in RTX Corporation by purchasing 1,703 shares worth approximately $226,000 during the first quarter.
• RTX reported earnings of $1.56 per share for its recent quarter, exceeding analysts’ expectations, with revenue reaching $21.58 billion, a 9.4% increase from the previous year.
• The company announced a quarterly dividend of $0.68 per share, representing an annual yield of 1.8%, with a dividend payout ratio of 59.78%.

Spreng Capital Management Inc. bought a new stake in RTX Corporation (NYSE:RTX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,703 shares of the company's stock, valued at approximately $226,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RTX. MorganRosel Wealth Management LLC bought a new stake in shares of RTX during the 1st quarter worth about $26,000. 10Elms LLP bought a new stake in shares of RTX during the 4th quarter worth about $29,000. Greenline Partners LLC bought a new stake in shares of RTX during the 4th quarter worth about $34,000. Mpwm Advisory Solutions LLC bought a new stake in shares of RTX during the 4th quarter worth about $43,000. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of RTX during the 1st quarter worth about $44,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insider Transactions at RTX

In other RTX news, insider Philip J. Jasper sold 12,847 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider owned 17,684 shares of the company's stock, valued at $2,790,888.88. This represents a 42.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Kevin G. Dasilva sold 8,704 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total value of $1,359,564.80. Following the completion of the transaction, the vice president directly owned 30,004 shares of the company's stock, valued at approximately $4,686,624.80. This trade represents a 22.49% 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 currently owned by company insiders.

RTX Stock Performance

RTX stock traded down $1.7690 during trading hours on Tuesday, hitting $153.7310. The stock had a trading volume of 3,007,743 shares, compared to its average volume of 4,749,675. The company has a 50-day moving average of $150.14 and a two-hundred day moving average of $136.83. 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 company has a market cap of $205.78 billion, a PE ratio of 33.79, a price-to-earnings-growth ratio of 2.87 and a beta of 0.69. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $158.79.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.45 by $0.11. The firm had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%.The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.41 EPS. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. On average, equities research analysts anticipate that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on RTX shares. Bank of America upped their price target on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Citigroup upped their price target on RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. upped their price target 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 restated an "outperform" rating and set a $170.00 target price (up previously from $165.00) on shares of RTX in a research note 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 research note on Wednesday, May 14th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $158.67.

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.