Aberdeen Group plc Boosts Holdings in RTX Corporation (NYSE:RTX)

Aberdeen Group plc grew its holdings in RTX Corporation (NYSE:RTX) by 1.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 571,720 shares of the company’s stock after purchasing an additional 6,370 shares during the quarter. Aberdeen Group plc’s holdings in RTX were worth $75,224,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in RTX. Nuveen LLC purchased a new position in shares of RTX in the first quarter valued at approximately $916,739,000. GAMMA Investing LLC lifted its stake in RTX by 14,838.5% in the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company’s stock worth $551,460,000 after acquiring an additional 4,135,349 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in RTX by 43.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock worth $1,216,063,000 after acquiring an additional 3,164,844 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in RTX by 28.0% in the first quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company’s stock worth $845,784,000 after acquiring an additional 1,394,918 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in RTX by 1.1% in the first quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company’s stock worth $15,873,541,000 after acquiring an additional 1,357,328 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Down 0.7%

NYSE RTX opened at $154.04 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The firm’s fifty day moving average price is $149.54 and its 200 day moving average price is $136.40. The company has a market capitalization of $206.19 billion, a price-to-earnings ratio of 33.85, a price-to-earnings-growth ratio of 2.86 and a beta of 0.69. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $158.79.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.41 EPS. On average, sell-side analysts expect 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. Stockholders 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 dividend yield of 1.8%. RTX’s payout ratio is 59.78%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RTX shares. Jefferies Financial Group reiterated a “hold” rating on shares of RTX in a research note on Monday, July 21st. Susquehanna lifted their price target on shares of RTX from $160.00 to $175.00 and gave the stock a “positive” rating in a research note on Wednesday, July 23rd. UBS Group lifted their price target on shares of RTX from $166.00 to $177.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Bank of America lifted their price target on shares of RTX from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $170.00 price target (up previously from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Six investment 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.67.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the transaction, the executive vice president directly owned 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Kevin G. Dasilva sold 8,704 shares of the business’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the completion of the transaction, the vice president directly owned 30,004 shares in the company, valued at $4,686,624.80. This represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,589 shares of company stock worth $7,126,389. Corporate 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.