Nations Financial Group Inc. IA ADV Acquires 15,837 Shares of RTX Corporation (NYSE:RTX)

Nations Financial Group Inc. IA ADV boosted its holdings in RTX Corporation (NYSE:RTX) by 228.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,772 shares of the company’s stock after acquiring an additional 15,837 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in RTX were worth $3,016,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of RTX by 1.1% during the first quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company’s stock valued at $15,873,541,000 after acquiring an additional 1,357,328 shares during the last quarter. Northern Trust Corp increased its position in shares of RTX by 8.4% during the fourth quarter. Northern Trust Corp now owns 12,912,698 shares of the company’s stock valued at $1,494,257,000 after acquiring an additional 997,806 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of RTX by 43.1% during the fourth 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 acquiring an additional 3,164,844 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of RTX by 1.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,351,568 shares of the company’s stock valued at $1,371,171,000 after acquiring an additional 104,139 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of RTX by 1.5% during the first quarter. Invesco Ltd. now owns 10,312,313 shares of the company’s stock valued at $1,365,969,000 after acquiring an additional 154,544 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Activity

In other news, EVP Ramsaran Maharajh sold 1,462 shares of the business’s stock in a transaction on Wednesday, July 23rd. The shares were 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. The trade was a 9.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Troy D. Brunk sold 7,654 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,589 shares of company stock worth $7,126,389. Company insiders own 0.15% of the company’s stock.

RTX Stock Down 0.7%

RTX stock opened at $154.04 on Friday. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $158.79. The firm has a market capitalization of $206.19 billion, a price-to-earnings ratio of 33.85, a P/E/G ratio of 2.86 and a beta of 0.69. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a 50 day simple moving average of $149.54 and a 200 day simple moving average of $136.40.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. The business had revenue of $21.58 billion during 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%. RTX’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.41 EPS. On average, analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The company 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 1.8%. RTX’s dividend payout ratio (DPR) is currently 59.78%.

Analyst Ratings Changes

A number of brokerages recently commented on RTX. UBS Group increased their price target on RTX from $166.00 to $177.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Sanford C. Bernstein set a $154.00 price target on shares of RTX and gave the stock a “market perform” rating in a research note on Friday, July 11th. The Goldman Sachs Group raised their price target on shares of RTX from $114.00 to $126.00 and gave the stock a “neutral” rating in a research note on Monday, June 23rd. Jefferies Financial Group restated a “hold” rating on shares of RTX in a research note on Monday, July 21st. Finally, Bank of America raised 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. Six research 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.67.

RTX 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.