Watts Gwilliam & Co. LLC Invests $219,000 in RTX Corporation $RTX

Key Points

• Watts Gwilliam & Co. LLC invested $219,000 in RTX Corporation, acquiring 1,655 shares during the 1st quarter.
• RTX reported Q2 earnings of $1.56 per share, exceeding analysts' expectations, and achieved $21.58 billion in revenue for the quarter.
• The company declared a quarterly dividend of $0.68 per share, with a dividend yield of 1.7% and a payout ratio of 59.78%.

Watts Gwilliam & Co. LLC bought a new stake in shares of RTX Corporation (NYSE:RTX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,655 shares of the company's stock, valued at approximately $219,000.

A number of other institutional investors have also recently made changes to their positions in RTX. Granite Harbor Advisors Inc. purchased a new stake in RTX during the first quarter valued at approximately $235,000. Summit Securities Group LLC bought a new position in shares of RTX during the 1st quarter valued at approximately $40,000. Freestone Capital Holdings LLC increased its position in shares of RTX by 2.3% during the 1st quarter. Freestone Capital Holdings LLC now owns 62,352 shares of the company's stock valued at $8,259,000 after purchasing an additional 1,386 shares during the last quarter. Spreng Capital Management Inc. purchased a new stake in RTX during the 1st quarter valued at $226,000. Finally, Affinity Investment Advisors LLC lifted its position in RTX by 96.5% in the first quarter. Affinity Investment Advisors LLC now owns 7,270 shares of the company's stock worth $963,000 after buying an additional 3,570 shares during the last quarter. Institutional investors own 86.50% of the company's stock.

Analyst Ratings Changes

RTX has been the topic of a number of analyst reports. Citigroup boosted their price objective on shares of RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research report on Monday, July 14th. UBS Group increased their price objective on shares of RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a research note on Friday, April 25th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $170.00 target price (up previously from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Finally, Barclays increased their price target on RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, RTX has a consensus rating of "Moderate Buy" and an average target price of $158.67.

RTX Stock Performance

RTX stock opened at $155.56 on Tuesday. 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 1-year low of $112.27 and a 1-year high of $158.79. The business has a 50-day moving average price of $149.83 and a 200 day moving average price of $136.71. The company has a market capitalization of $208.22 billion, a P/E ratio of 34.19, a PEG ratio of 2.84 and a beta of 0.69.

RTX (NYSE:RTX - Get Free Report) last announced 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. RTX had a return on equity of 12.89% and a net margin of 7.35%. The business had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. During the same quarter last year, the firm earned $1.41 EPS. The business's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities research analysts forecast that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

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

Insider Buying and Selling at RTX

In other news, insider Troy D. Brunk sold 7,654 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total value of $1,187,900.80. Following the completion of the sale, the insider owned 16,442 shares of the company's stock, valued at $2,551,798.40. This trade represents a 31.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kevin G. Dasilva sold 8,704 shares of the business'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 owned 30,004 shares in the company, valued at approximately $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. In the last 90 days, insiders sold 47,589 shares of company stock valued at $7,126,389. Corporate insiders own 0.15% of the company's stock.

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.

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