Thoroughbred Financial Services LLC Increases Holdings in RTX Corporation (NYSE:RTX)

Thoroughbred Financial Services LLC grew its holdings in RTX Corporation (NYSE:RTX) by 19.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 31,553 shares of the company’s stock after buying an additional 5,224 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in RTX were worth $4,179,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. 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 period. T. Rowe Price Investment Management Inc. raised 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 worth $1,216,063,000 after purchasing an additional 3,164,844 shares in the last quarter. Invesco Ltd. lifted its position in shares of RTX by 17.6% in the 4th quarter. Invesco Ltd. now owns 10,157,769 shares of the company’s stock worth $1,175,457,000 after purchasing an additional 1,522,251 shares during the period. Castlekeep Investment Advisors LLC bought a new stake in shares of RTX during the 4th quarter valued at about $138,585,000. Finally, AQR Capital Management LLC boosted its stake in shares of RTX by 181.4% during the 4th quarter. AQR Capital Management LLC now owns 1,569,733 shares of the company’s stock valued at $181,571,000 after purchasing an additional 1,011,816 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RTX shares. Wall Street Zen downgraded shares of RTX from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Morgan Stanley increased their target price on RTX from $165.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Jefferies Financial Group restated a “hold” rating on shares of RTX in a research report on Monday, July 21st. Susquehanna upped their price target on RTX from $160.00 to $175.00 and gave the stock a “positive” rating in a research note on Wednesday, July 23rd. Finally, Sanford C. Bernstein set a $154.00 price objective on RTX and gave the company a “market perform” rating in a research report on Friday, July 11th. Six 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 company. According to MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and an average price target of $158.67.

Insider Activity

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The shares were 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 in the company, 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, VP Kevin G. Dasilva sold 8,704 shares of the firm’s stock in a transaction dated 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 sale, the vice president directly owned 30,004 shares in the company, valued at approximately $4,686,624.80. The trade was a 22.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,088 shares of company stock valued at $3,910,975 over the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

RTX Stock Up 0.4%

Shares of RTX stock opened at $157.46 on Tuesday. The company has a 50-day simple moving average of $146.19 and a two-hundred day simple moving average of $134.66. The stock has a market capitalization of $210.77 billion, a PE ratio of 34.61, a price-to-earnings-growth ratio of 2.89 and a beta of 0.69. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $158.79. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.11. The company 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%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.41 EPS. On average, analysts anticipate that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

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 issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.7%. RTX’s payout ratio is currently 59.78%.

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.