20,390 Shares in RTX Corporation (NYSE:RTX) Purchased by AIA Group Ltd

AIA Group Ltd acquired a new position in shares of RTX Corporation (NYSE:RTX) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 20,390 shares of the company’s stock, valued at approximately $2,701,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bay Capital Advisors LLC purchased a new stake in shares of RTX in the first quarter valued at about $224,000. Dynamic Advisor Solutions LLC lifted its holdings in shares of RTX by 8.4% in the first quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company’s stock valued at $4,591,000 after purchasing an additional 2,686 shares in the last quarter. Brookwood Investment Group LLC purchased a new stake in shares of RTX in the first quarter valued at about $1,288,000. Deutsche Bank AG lifted its holdings in shares of RTX by 46.0% in the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company’s stock valued at $344,075,000 after purchasing an additional 936,953 shares in the last quarter. Finally, LBP AM SA lifted its holdings in shares of RTX by 17.7% in the first quarter. LBP AM SA now owns 279,179 shares of the company’s stock valued at $36,980,000 after purchasing an additional 41,990 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on RTX shares. Cowen reaffirmed a “buy” rating on shares of RTX in a report on Friday, May 23rd. Morgan Stanley upped their price objective on shares of RTX from $165.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. UBS Group upped their price objective on shares of RTX from $166.00 to $177.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. The Goldman Sachs Group upped their price objective on shares of RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a research note on Monday, June 23rd. Finally, Susquehanna upped their price objective on shares of RTX from $160.00 to $175.00 and gave the company a “positive” rating in a research note on Wednesday, July 23rd. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $158.67.

RTX Price Performance

RTX stock opened at $154.84 on Tuesday. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $158.79. The firm has a fifty day moving average of $148.22 and a 200-day moving average of $135.73. The firm has a market capitalization of $207.25 billion, a P/E ratio of 34.03, a PEG ratio of 2.85 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 released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.11. RTX had a net margin of 7.35% and a return on equity of 12.89%. The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $20.68 billion. During the same quarter in the prior year, the business earned $1.41 earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, analysts predict that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.8%. RTX’s payout ratio is currently 59.78%.

Insider Buying and Selling at RTX

In other news, EVP Ramsaran Maharajh sold 1,462 shares of the company’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total value of $222,604.12. Following the completion of the transaction, the executive vice president directly owned 13,184 shares in the company, valued at approximately $2,007,395.84. This represents a 9.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Philip J. Jasper sold 12,847 shares of the company’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the completion of the transaction, the insider owned 17,684 shares of the company’s stock, valued at $2,790,888.88. This trade represents a 42.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,935 shares of company stock worth $5,938,488 over the last three months. 0.15% of the stock is currently owned by insiders.

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.