Steward Partners Investment Advisory LLC Increases Stake in RTX Corporation $RTX

Key Points

• Steward Partners Investment Advisory LLC increased its stake in RTX Corporation by 4.7% during the first quarter, owning 189,894 shares valued at approximately $25.15 million.
• RTX Corporation reported earnings per share (EPS) of $1.56 for the last quarter, surpassing estimates, with a net revenue of $21.58 billion, up 9.4% year-over-year.
• The firm announced a quarterly dividend of $0.68 per share, representing an annual yield of 1.8%, slated for payment on September 4th.

Steward Partners Investment Advisory LLC grew its stake in RTX Corporation (NYSE:RTX - Free Report) by 4.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 189,894 shares of the company's stock after buying an additional 8,476 shares during the period. Steward Partners Investment Advisory LLC's holdings in RTX were worth $25,153,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in RTX. Brighton Jones LLC raised its holdings in shares of RTX by 24.3% during the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock worth $1,969,000 after purchasing an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in RTX by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock valued at $564,000 after buying an additional 159 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in RTX by 6.1% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 388,552 shares of the company's stock valued at $44,948,000 after buying an additional 22,336 shares in the last quarter. GeoWealth Management LLC grew its position in shares of RTX by 23.8% in the fourth quarter. GeoWealth Management LLC now owns 10,604 shares of the company's stock valued at $1,227,000 after purchasing an additional 2,037 shares during the period. Finally, Forum Financial Management LP grew its position in shares of RTX by 41.7% in the fourth quarter. Forum Financial Management LP now owns 19,020 shares of the company's stock valued at $2,201,000 after purchasing an additional 5,596 shares during the period. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insiders Place Their Bets

In other news, VP Kevin G. Dasilva sold 8,704 shares of the business'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 sale, the vice president directly owned 30,004 shares of the company's stock, valued at approximately $4,686,624.80. The trade was a 22.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of the sale, the insider directly owned 16,442 shares in the company, valued at $2,551,798.40. This trade represents a 31.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,589 shares of company stock worth $7,126,389. Insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on RTX shares. Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 target price on the stock in a research report on Wednesday, May 14th. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 target price on the stock in a research report on Friday, April 25th. Morgan Stanley boosted their price target on shares of RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their price target on shares of RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Jefferies Financial Group restated a "hold" rating on shares of RTX in a research report on Monday, July 21st. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, RTX currently has a consensus rating of "Moderate Buy" and an average price target of $158.67.

RTX Trading Up 0.6%

RTX stock traded up $0.8680 during trading on Friday, reaching $157.1880. 939,203 shares of the stock were exchanged, compared to its average volume of 5,237,905. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average price of $150.74 and a 200-day moving average price of $137.15. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $158.79. The firm has a market capitalization of $210.40 billion, a price-to-earnings ratio of 34.55, a P/E/G ratio of 2.89 and a beta of 0.69.

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

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders 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 dividend yield of 1.7%. RTX's dividend payout ratio (DPR) is 59.78%.

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.