Virtu Financial LLC Acquires New Position in RTX Corporation (NYSE:RTX)

Key Points

• Virtu Financial LLC has acquired approximately 15,841 shares of RTX Corporation, worth about $2,098,000, as disclosed in a recent SEC filing.
• RTX reported a quarterly earnings per share (EPS) of $1.56, exceeding analysts' expectations, with revenues reaching $21.58 billion, a 9.4% increase from the previous year.
• The company declared a quarterly $0.68 dividend, with a yield of 1.8%, set to be paid to stockholders on September 4th.

Virtu Financial LLC bought a new stake in RTX Corporation (NYSE:RTX - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 15,841 shares of the company's stock, valued at approximately $2,098,000.

Several other hedge funds and other institutional investors also recently modified their holdings of RTX. Brighton Jones LLC raised its holdings in RTX by 24.3% in the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock valued at $1,969,000 after buying an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of RTX by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock worth $564,000 after purchasing an additional 159 shares during the last quarter. Advisors Capital Management LLC grew its stake in shares of RTX by 1.0% in the fourth quarter. Advisors Capital Management LLC now owns 387,143 shares of the company's stock worth $44,800,000 after purchasing an additional 3,809 shares during the last quarter. SageView Advisory Group LLC increased its holdings in RTX by 17.6% in the fourth quarter. SageView Advisory Group LLC now owns 14,033 shares of the company's stock valued at $1,624,000 after purchasing an additional 2,099 shares during the period. Finally, Mariner LLC raised its position in RTX by 3.4% during the 4th quarter. Mariner LLC now owns 387,389 shares of the company's stock worth $44,828,000 after purchasing an additional 12,778 shares during the last quarter. Institutional investors own 86.50% of the company's stock.

RTX Stock Performance

Shares of RTX stock traded down $0.46 on Thursday, reaching $155.25. 2,762,062 shares of the stock were exchanged, compared to its average volume of 5,317,897. The firm has a market capitalization of $207.81 billion, a price-to-earnings ratio of 34.12, a PEG ratio of 2.86 and a beta of 0.69. The business has a 50 day moving average price of $148.92 and a two-hundred day moving average price of $136.01. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $158.79. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60.

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

RTX Dividend Announcement

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

Insider Activity

In related news, EVP Ramsaran Maharajh sold 1,462 shares of the firm's stock in a transaction dated 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 $2,007,395.84. This trade represents a 9.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the transaction, the executive vice president directly owned 16,538 shares of the company's stock, valued at $2,275,959.56. This represents a 50.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,589 shares of company stock valued at $7,126,389 in the last 90 days. 0.15% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. Susquehanna upped their target price on RTX from $160.00 to $175.00 and gave the company a "positive" rating in a report on Wednesday, July 23rd. UBS Group boosted their price target on RTX from $166.00 to $177.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Cowen reaffirmed a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Barclays boosted their target price 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. Finally, Morgan Stanley raised their price target on shares of RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. 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.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $158.67.

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.