Vanguard Group Inc. Increases Position in RTX Corporation (NYSE:RTX)

Key Points

• Vanguard Group Inc. increased its stake in RTX Corporation by 1.1%, now owning approximately 8.97% of the company, valued at $15.87 billion.
• Analysts have raised their price targets for RTX, with Barclays setting it at $153.00 and JPMorgan Chase increasing it to $175.00, reflecting positive sentiment surrounding the stock.
• RTX Corporation recently announced a quarterly dividend of $0.68 per share, with a total annualized dividend yield of 1.7%.

Vanguard Group Inc. increased its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 1.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 119,836,487 shares of the company's stock after buying an additional 1,357,328 shares during the period. Vanguard Group Inc. owned about 8.97% of RTX worth $15,873,541,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. MorganRosel Wealth Management LLC bought a new position in shares of RTX in the first quarter worth $26,000. 10Elms LLP bought a new position in shares of RTX in the 4th quarter worth $29,000. Greenline Partners LLC purchased a new stake in RTX during the fourth quarter valued at about $34,000. Mpwm Advisory Solutions LLC purchased a new position in shares of RTX during the 4th quarter valued at about $43,000. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of RTX during the first quarter worth approximately $44,000. Institutional investors own 86.50% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on RTX. Barclays upped their price target on shares of RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. raised their price target on RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a research report on Wednesday, May 14th. Citigroup raised their target price on shares of RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, The Goldman Sachs Group upped 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 equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $158.67.

RTX Stock Performance

Shares of RTX stock opened at $156.23 on Wednesday. The company's fifty day moving average price is $146.63 and its 200-day moving average price is $134.81. The stock has a market cap of $209.12 billion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 2.90 and a beta of 0.69. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $158.79.

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 for the quarter, compared to the consensus estimate of $20.68 billion. During the same quarter in the prior year, the business posted $1.41 EPS. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities analysts expect that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders 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 dividend yield of 1.7%. RTX's payout ratio is 59.78%.

Insider Activity

In other news, VP Kevin G. Dasilva sold 8,704 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $156.20, for a total value of $1,359,564.80. Following the transaction, the vice president directly owned 30,004 shares in the company, valued at $4,686,624.80. This trade represents a 22.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ramsaran Maharajh sold 1,462 shares of the 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 owned 13,184 shares in the company, valued at $2,007,395.84. The trade was a 9.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,088 shares of company stock valued at $3,910,975 over the last three months. Insiders own 0.15% of the company's stock.

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.

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