RTX Corporation (NYSE:RTX) Shares Acquired by West Michigan Advisors LLC

Key Points

• West Michigan Advisors LLC increased its holdings in RTX Corporation by 112.8% in the first quarter, now owning shares worth $628,000.
• Shares of RTX opened at $157.46 and the company reported a quarterly revenue of $21.58 billion, exceeding analysts' expectations.
• RTX announced a quarterly dividend of $0.68 per share, resulting in an annual yield of 1.7% for shareholders.

West Michigan Advisors LLC grew its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 112.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,738 shares of the company's stock after acquiring an additional 2,512 shares during the quarter. West Michigan Advisors LLC's holdings in RTX were worth $628,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Associated Banc Corp raised its position in RTX by 0.3% in the first quarter. Associated Banc Corp now owns 344,795 shares of the company's stock valued at $45,672,000 after purchasing an additional 909 shares during the period. LCM Capital Management Inc grew its stake in shares of RTX by 2.3% in the first quarter. LCM Capital Management Inc now owns 11,037 shares of the company's stock valued at $1,462,000 after buying an additional 252 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new stake in shares of RTX during the 1st quarter valued at about $44,000. Cary Street Partners Investment Advisory LLC lifted its position in RTX by 34.2% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 4,920 shares of the company's stock worth $652,000 after acquiring an additional 1,255 shares in the last quarter. Finally, Costello Asset Management INC boosted its holdings in RTX by 269.9% in the 1st quarter. Costello Asset Management INC now owns 1,942 shares of the company's stock worth $257,000 after acquiring an additional 1,417 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Performance

Shares of RTX stock traded down $0.25 on Thursday, hitting $155.50. 5,102,942 shares of the stock traded hands, compared to its average volume of 5,047,802. The company's fifty day moving average is $147.50 and its 200 day moving average is $135.19. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $158.79. The company has a market capitalization of $208.14 billion, a PE ratio of 34.18, a PEG ratio of 2.87 and a beta of 0.69. 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 for the quarter, beating the consensus estimate of $1.45 by $0.11. RTX had a net margin of 7.35% and a return on equity of 12.89%. The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $20.68 billion. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. RTX's dividend payout ratio is currently 59.78%.

Insider Buying and Selling at RTX

In related news, insider Philip J. Jasper sold 12,847 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the completion of the transaction, the insider owned 17,684 shares in the company, valued at $2,790,888.88. The trade was a 42.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 value of $222,604.12. Following the transaction, the executive vice president owned 13,184 shares of the company's stock, valued at approximately $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. Over the last three months, insiders sold 39,935 shares of company stock worth $5,938,488. Insiders own 0.15% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on RTX. Citigroup lifted their price objective on shares of RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $170.00 price target (up previously from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Sanford C. Bernstein set a $154.00 price objective on shares of RTX and gave the company a "market perform" rating in a research report on Friday, July 11th. Cowen reaffirmed a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Finally, DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 price target on the stock in a research note on Friday, April 25th. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average 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.