Strait & Sound Wealth Management LLC Grows Stock Holdings in RTX Corporation $RTX

Key Points

• Strait & Sound Wealth Management LLC increased its ownership in RTX Corporation by 50%, now holding 10,534 shares valued at approximately $1.40 million.
• RTX's earnings per share for the last quarter were reported at $1.56, exceeding estimates and contributing to a revenue of $21.58 billion, a 9.4% increase year-over-year.
• Equities research analysts have provided varied ratings on RTX, with Citigroup raising the price target to $182.00 and an average rating of "Moderate Buy" based on current analyst reports.

Strait & Sound Wealth Management LLC boosted its stake in RTX Corporation (NYSE:RTX - Free Report) by 50.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,534 shares of the company's stock after buying an additional 3,510 shares during the period. Strait & Sound Wealth Management LLC's holdings in RTX were worth $1,395,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of RTX. Hamilton Capital LLC lifted its holdings in shares of RTX by 3.6% in the 1st quarter. Hamilton Capital LLC now owns 2,122 shares of the company's stock worth $281,000 after acquiring an additional 74 shares during the last quarter. ICW Investment Advisors LLC raised its position in RTX by 0.6% in the first quarter. ICW Investment Advisors LLC now owns 13,845 shares of the company's stock valued at $1,834,000 after purchasing an additional 77 shares during the period. Apexium Financial LP lifted its stake in RTX by 2.2% during the first quarter. Apexium Financial LP now owns 3,629 shares of the company's stock worth $481,000 after purchasing an additional 78 shares in the last quarter. Guardian Wealth Advisors LLC NC lifted its stake in RTX by 1.7% during the fourth quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock worth $576,000 after purchasing an additional 82 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC boosted its position in shares of RTX by 2.1% during the first quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock worth $505,000 after buying an additional 82 shares during the period. Institutional investors and hedge funds own 86.50% of the company's stock.

Analysts Set New Price Targets

RTX has been the topic of several research reports. Morgan Stanley increased their target price on RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Bank of America boosted their price target on shares of RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Barclays increased their price target on shares of RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. The Goldman Sachs Group raised their price objective on shares of RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research note on Monday, June 23rd. Finally, Cowen reaffirmed a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $158.87.

RTX Stock Up 1.8%

Shares of RTX traded up $2.79 during mid-day trading on Thursday, reaching $157.79. The company's stock had a trading volume of 4,288,758 shares, compared to its average volume of 5,155,571. The company's 50 day moving average is $154.20 and its 200 day moving average is $140.15. The stock has a market cap of $211.21 billion, a PE ratio of 34.68, a price-to-earnings-growth ratio of 2.80 and a beta of 0.67. RTX Corporation has a 12-month low of $112.27 and a 12-month high of $161.26. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75.

RTX (NYSE:RTX - Get Free Report) last announced 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. RTX had a return on equity of 12.89% and a net margin of 7.35%.The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. During the same period in the prior year, the company posted $1.41 earnings per share. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Equities analysts anticipate that RTX Corporation will post 6.11 EPS for the current fiscal 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 dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, August 15th. RTX's dividend payout ratio (DPR) is currently 59.78%.

Insider Transactions at RTX

In other RTX news, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total transaction of $222,604.12. Following the transaction, the executive vice president owned 13,184 shares of the company's stock, valued at $2,007,395.84. The trade was a 9.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Shane G. Eddy sold 25,968 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $159.79, for a total value of $4,149,426.72. The disclosure for this sale can be found here. Insiders sold 56,635 shares of company stock valued at $8,947,010 over the last quarter. 0.15% of the stock is owned by corporate 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.