Torray Investment Partners LLC Invests $224,000 in RTX Corporation (NYSE:RTX)

Key Points

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Torray Investment Partners LLC acquired a new stake in RTX Corporation (NYSE:RTX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,689 shares of the company's stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Bay Capital Advisors LLC acquired a new position in shares of RTX in the first quarter valued at $224,000. Dynamic Advisor Solutions LLC lifted its position in RTX by 8.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock worth $4,591,000 after acquiring an additional 2,686 shares during the last quarter. Brookwood Investment Group LLC bought a new stake in shares of RTX during the first quarter worth approximately $1,288,000. Deutsche Bank AG grew its position in shares of RTX by 46.0% in the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock valued at $344,075,000 after purchasing an additional 936,953 shares during the last quarter. Finally, LBP AM SA increased its stake in shares of RTX by 17.7% during the first quarter. LBP AM SA now owns 279,179 shares of the company's stock worth $36,980,000 after purchasing an additional 41,990 shares during the period. 86.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price objective on RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Morgan Stanley upped 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. Wells Fargo & Company lifted their price target on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research note on Tuesday, April 15th. Susquehanna upped their price objective on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Finally, The Goldman Sachs Group lifted their price target on shares of RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a report on Monday, June 23rd. Six research 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's 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 at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president owned 9,546 shares of the company's stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of the company's stock in a transaction 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 completion of the transaction, the executive vice president directly owned 13,184 shares in the company, valued at approximately $2,007,395.84. The trade was a 9.98% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,234 shares of company stock valued at $4,439,755. 0.15% of the stock is owned by corporate insiders.

RTX Stock Up 0.4%

Shares of RTX stock traded up $0.65 on Monday, hitting $157.46. The stock had a trading volume of 3,961,112 shares, compared to its average volume of 5,388,844. RTX Corporation has a 12-month low of $112.27 and a 12-month high of $158.79. The stock has a market cap of $210.77 billion, a price-to-earnings ratio of 34.61, a price-to-earnings-growth ratio of 2.89 and a beta of 0.68. The business has a 50 day moving average of $145.69 and a 200 day moving average of $134.40. 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 released its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.11. The company had revenue of $21.58 billion during the quarter, compared to analyst estimates 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 in the prior year, the company posted $1.41 earnings per share. As a group, analysts expect 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 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.