Strategy Asset Managers LLC Makes New $846,000 Investment in RTX Corporation (NYSE:RTX)

Key Points

• Strategy Asset Managers LLC has made a new investment of approximately $846,000 in RTX Corporation, purchasing 6,385 shares during the first quarter.
• Other significant investors, including GAMMA Investing LLC and T. Rowe Price Investment Management Inc., also increased their stakes in RTX, with institutional ownership now at 86.50%.
• RTX recently declared a quarterly dividend of $0.68 per share, set to be paid on September 4th, reflecting a yield of 1.7%.

Strategy Asset Managers LLC purchased a new position in shares of RTX Corporation (NYSE:RTX - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 6,385 shares of the company's stock, valued at approximately $846,000.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in RTX by 14,838.5% in the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock valued at $551,460,000 after acquiring an additional 4,135,349 shares during the period. T. Rowe Price Investment Management Inc. grew its position in RTX by 43.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock valued at $1,216,063,000 after purchasing an additional 3,164,844 shares during the period. Goldman Sachs Group Inc. grew its position in RTX by 28.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company's stock valued at $845,784,000 after purchasing an additional 1,394,918 shares during the period. Vanguard Group Inc. increased its stake in RTX by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock valued at $15,873,541,000 after purchasing an additional 1,357,328 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new position in shares of RTX in the fourth quarter valued at $138,585,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Insider Activity at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the transaction, the executive vice president directly owned 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total value of $222,604.12. Following the sale, the executive vice president directly owned 13,184 shares in the company, valued at $2,007,395.84. This trade represents a 9.98% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,088 shares of company stock worth $3,910,975. 0.15% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RTX. Wells Fargo & Company boosted their target price on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 15th. The Goldman Sachs Group increased their price objective on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research note on Monday, June 23rd. Wall Street Zen cut RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Barclays increased their price target on RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Finally, Sanford C. Bernstein set a $154.00 price objective on RTX and gave the company a "market perform" rating in a research note on Friday, July 11th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $158.67.

RTX Price Performance

RTX stock opened at $156.23 on Wednesday. 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's 50 day simple moving average is $146.63 and its 200 day simple moving average is $134.81. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $158.79. The company has a market cap of $209.12 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 2.90 and a beta of 0.69.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. During the same quarter in the prior year, the company earned $1.41 EPS. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. Sell-side analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.7%. RTX's payout ratio is currently 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.

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