Vestmark Advisory Solutions Inc. Boosts Stock Position in RTX Corporation (NYSE:RTX)

Vestmark Advisory Solutions Inc. grew its holdings in RTX Corporation (NYSE:RTX) by 86.7% in the first quarter, Holdings Channel reports. The institutional investor owned 20,265 shares of the company’s stock after acquiring an additional 9,410 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in RTX were worth $2,684,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Guardian Wealth Advisors LLC NC increased its position in shares of RTX by 1.7% in the fourth quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company’s stock valued at $576,000 after buying an additional 82 shares in the last quarter. Foster Victor Wealth Advisors LLC increased its position in shares of RTX by 2.1% during the first quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company’s stock worth $505,000 after purchasing an additional 82 shares in the last quarter. Weatherly Asset Management L. P. increased its position in shares of RTX by 0.4% during the first quarter. Weatherly Asset Management L. P. now owns 20,888 shares of the company’s stock worth $2,767,000 after purchasing an additional 82 shares in the last quarter. CLG LLC increased its position in shares of RTX by 2.3% during the first quarter. CLG LLC now owns 3,686 shares of the company’s stock worth $488,000 after purchasing an additional 83 shares in the last quarter. Finally, Lcnb Corp increased its position in shares of RTX by 1.2% during the first quarter. Lcnb Corp now owns 7,117 shares of the company’s stock worth $943,000 after purchasing an additional 83 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the transaction, the executive vice president owned 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Troy D. Brunk sold 7,654 shares of the stock in a transaction dated 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 transaction, the insider directly owned 16,442 shares in the company, valued at approximately $2,551,798.40. The trade was a 31.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,589 shares of company stock worth $7,126,389. Corporate insiders own 0.15% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $154.04 on Friday. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $158.79. The business’s fifty day simple moving average is $149.54 and its 200-day simple moving average is $136.40. The firm has a market cap of $206.19 billion, a PE ratio of 33.85, a price-to-earnings-growth ratio of 2.86 and a beta of 0.69. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 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 analyst estimates of $20.68 billion. During the same quarter in the prior year, the company posted $1.41 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Equities analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

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 paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.8%. RTX’s dividend payout ratio (DPR) is presently 59.78%.

Wall Street Analysts Forecast Growth

RTX has been the subject of several research reports. Susquehanna boosted their price target on RTX from $160.00 to $175.00 and gave the stock a “positive” rating in a research report on Wednesday, July 23rd. Wall Street Zen cut RTX from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. Jefferies Financial Group reiterated a “hold” rating on shares of RTX in a research report on Monday, July 21st. JPMorgan Chase & Co. boosted their price target on RTX from $145.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Finally, UBS Group boosted their price target on RTX from $166.00 to $177.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, RTX currently has a consensus 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.