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 acquired a new position in RTX Corporation (NYSE:RTX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,385 shares of the company's stock, valued at approximately $846,000.

Other large investors also recently modified their holdings of the company. MorganRosel Wealth Management LLC purchased a new stake in RTX in the first quarter worth about $26,000. 10Elms LLP purchased a new stake in RTX in the fourth quarter worth about $29,000. Greenline Partners LLC purchased a new stake in RTX in the fourth quarter worth about $34,000. McClarren Financial Advisors Inc. purchased a new stake in RTX in the first quarter worth about $44,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in RTX in the fourth quarter worth about $43,000. Institutional investors own 86.50% of the company's stock.

RTX Trading Down 0.5%

RTX traded down $0.78 during trading on Friday, hitting $154.98. 3,666,241 shares of the stock were exchanged, compared to its average volume of 5,096,528. The firm has a 50 day simple moving average of $147.87 and a 200 day simple moving average of $135.46. The firm has a market cap of $207.45 billion, a price-to-earnings ratio of 34.06, a P/E/G ratio of 2.85 and a beta of 0.69. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $158.79. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.45 by $0.11. The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. RTX's quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the business posted $1.41 EPS. As a group, equities analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have commented on RTX shares. The Goldman Sachs Group upped their price target on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research report on Monday, June 23rd. Sanford C. Bernstein set a $154.00 price objective on RTX and gave the stock a "market perform" rating in a research note on Friday, July 11th. Bank of America upped their price objective on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Barclays upped their price objective on RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Finally, Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a research note on Wednesday, May 14th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $158.67.

Insider Buying and Selling

In other news, EVP Ramsaran Maharajh sold 1,462 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total value of $222,604.12. Following the completion of the sale, the executive vice president owned 13,184 shares of the company's stock, valued at $2,007,395.84. This trade represents a 9.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm's 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 sale, the executive vice president directly owned 16,538 shares of the company's stock, valued at $2,275,959.56. The trade was a 50.57% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,935 shares of company stock valued at $5,938,488. 0.15% of the stock is owned by insiders.

About RTX

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.