Tranquilli Financial Advisor LLC Acquires Shares of 2,228 RTX Corporation (NYSE:RTX)

Key Points

• Tranquilli Financial Advisor LLC has made a new investment in RTX Corporation, acquiring 2,228 shares valued at approximately $295,000 in the first quarter.
• Wall Street analysts have generally positive forecasts for RTX, with most upgrades raising price targets significantly, including Bank of America's increase from $150.00 to $175.00 and an average price target of $158.67.
• RTX Corporation reported strong quarterly earnings, with $1.56 earnings per share for the quarter, surpassing estimates and reflecting a year-over-year revenue increase of 9.4%.

Tranquilli Financial Advisor LLC purchased a new position in shares of RTX Corporation (NYSE:RTX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,228 shares of the company's stock, valued at approximately $295,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new stake in shares of RTX during the 1st quarter worth $26,000. 10Elms LLP purchased a new stake in shares of RTX during the 4th quarter worth $29,000. Greenline Partners LLC purchased a new stake in shares of RTX during the 4th quarter worth $34,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of RTX during the 4th quarter worth $43,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of RTX during the 1st quarter worth $44,000. Institutional investors own 86.50% of the company's stock.

RTX Stock Performance

Shares of NYSE:RTX traded up $0.04 during trading on Wednesday, hitting $155.53. The stock had a trading volume of 5,012,232 shares, compared to its average volume of 4,983,672. RTX Corporation has a 12-month low of $112.27 and a 12-month high of $158.79. The stock has a market capitalization of $208.18 billion, a price-to-earnings ratio of 34.18, a price-to-earnings-growth ratio of 2.86 and a beta of 0.69. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The stock has a 50-day simple moving average of $148.92 and a two-hundred day simple moving average of $136.01.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) 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 firm had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $20.68 billion. During the same period last year, the business posted $1.41 earnings per share. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts expect that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

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 issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.7%. RTX's dividend payout ratio (DPR) is 59.78%.

Insider Activity

In related 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 completion of the transaction, the executive vice president directly owned 13,184 shares in the company, valued at approximately $2,007,395.84. This trade represents a 9.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the transaction, the executive vice president owned 16,538 shares of the company's stock, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,589 shares of company stock valued at $7,126,389 over the last 90 days. Company insiders own 0.15% of the company's stock.

Analyst Ratings Changes

RTX has been the subject of a number of analyst reports. 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. The Goldman Sachs Group upped 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. Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a research note on Monday, July 21st. Wells Fargo & Company increased 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. Finally, Susquehanna increased their price target on RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd. Six investment 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $158.67.

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.