Thoroughbred Financial Services LLC Buys 5,224 Shares of RTX Corporation (NYSE:RTX)

Key Points

• Thoroughbred Financial Services LLC increased its holdings in RTX Corporation by 19.8% in the first quarter, bringing its total ownership to 31,553 shares valued at approximately $4.18 million.
• Major institutional investors have significantly ramped up their stakes in RTX, with GAMMA Investing LLC boosting its stake by 14,838.5% and T. Rowe Price increasing its holdings by 43.1%.
• RTX recently declared a quarterly dividend of $0.68 per share, set to be paid on September 4th, representing an annualized yield of 1.7%.

Thoroughbred Financial Services LLC increased its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 19.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,553 shares of the company's stock after purchasing an additional 5,224 shares during the period. Thoroughbred Financial Services LLC's holdings in RTX were worth $4,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. MorganRosel Wealth Management LLC acquired a new stake in shares of RTX in the first quarter valued at about $26,000. 10Elms LLP acquired a new position in RTX during the fourth quarter worth about $29,000. Greenline Partners LLC acquired a new position in RTX during the fourth quarter worth about $34,000. Mpwm Advisory Solutions LLC acquired a new position in RTX in the 4th quarter valued at about $43,000. Finally, Capital A Wealth Management LLC acquired a new position in RTX in the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insider Activity at RTX

In other news, insider Philip J. Jasper sold 12,847 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $157.82, for a total value of $2,027,513.54. Following the completion of the sale, the insider directly owned 17,684 shares of the company's stock, valued at $2,790,888.88. This represents a 42.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kevin G. Dasilva sold 8,704 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the completion of the sale, the vice president directly owned 30,004 shares of the company's stock, valued at $4,686,624.80. This trade represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,935 shares of company stock worth $5,938,488. 0.15% of the stock is currently owned by corporate insiders.

RTX Trading Down 0.3%

RTX stock traded down $0.44 during midday trading on Wednesday, reaching $155.89. 4,111,227 shares of the company's stock traded hands, compared to its average volume of 4,975,511. The company has a market capitalization of $208.67 billion, a P/E ratio of 34.26, a PEG ratio of 2.88 and a beta of 0.69. 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 Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $158.79. The business has a 50-day moving average price of $146.63 and a two-hundred day moving average price of $134.81.

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

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. RTX's dividend payout ratio is presently 59.78%.

Analyst Ratings Changes

Several brokerages recently weighed in on RTX. Wall Street Zen downgraded shares of RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Barclays upped their target price on shares of RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Royal Bank Of Canada reissued an "outperform" rating and issued a $170.00 price objective (up from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. The Goldman Sachs Group increased their price objective on shares of RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research report on Monday, June 23rd. Finally, DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective on the stock in a research report on Friday, April 25th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $158.67.

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.