Wooster Corthell Wealth Management Inc. Takes $248,000 Position in RTX Corporation (NYSE:RTX)

Key Points

• Wooster Corthell Wealth Management Inc. acquired 1,870 shares of RTX Corporation (NYSE:RTX), valued at approximately $248,000, in the first quarter.
• Several other hedge funds also adjusted their positions, with Deutsche Bank AG increasing its stake by 46% and owning over 2.9 million shares worth approximately $344 million.
• RTX's quarterly revenue of $21.58 billion surpassed analysts' expectations, contributing to a quarterly earnings of $1.56 per share, exceeding the consensus estimate by $0.11.

Wooster Corthell Wealth Management Inc. purchased a new position in shares of RTX Corporation (NYSE:RTX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,870 shares of the company's stock, valued at approximately $248,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in RTX by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock valued at $3,263,610,000 after purchasing an additional 1,000,722 shares during the last quarter. Northern Trust Corp boosted its holdings in RTX by 8.4% in the 4th quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock valued at $1,494,257,000 after purchasing an additional 997,806 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in RTX by 43.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock valued at $1,216,063,000 after purchasing an additional 3,164,844 shares during the last quarter. Invesco Ltd. boosted its holdings in RTX by 17.6% in the 4th quarter. Invesco Ltd. now owns 10,157,769 shares of the company's stock valued at $1,175,457,000 after purchasing an additional 1,522,251 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in RTX by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,647,638 shares of the company's stock valued at $884,958,000 after purchasing an additional 203,173 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other RTX news, VP Kevin G. Dasilva sold 8,704 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total value of $1,359,564.80. Following the sale, the vice president directly owned 30,004 shares of the company's stock, valued at approximately $4,686,624.80. This represents a 22.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the sale, the vice president directly owned 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,234 shares of company stock valued at $4,439,755. 0.15% of the stock is currently owned by company insiders.

RTX Stock Down 0.6%

RTX stock traded down $0.89 during mid-day trading on Thursday, reaching $157.51. 4,788,798 shares of the company's stock were exchanged, compared to its average volume of 4,604,508. The company has a market cap of $210.83 billion, a P/E ratio of 34.62, a P/E/G ratio of 2.92 and a beta of 0.64. 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. The company has a fifty day moving average of $145.20 and a 200-day moving average of $133.94.

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

RTX Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have weighed in on RTX shares. Bank of America boosted their target price on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 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 report on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Jefferies Financial Group restated a "hold" rating on shares of RTX in a report on Monday, July 21st. Finally, DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective on the stock in a report on Friday, April 25th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, RTX has an average rating of "Moderate Buy" and a consensus target price 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.