HighTower Advisors LLC Has $300.51 Million Position in RTX Corporation (NYSE:RTX)

HighTower Advisors LLC increased its position in shares of RTX Corporation (NYSE:RTX) by 15.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,268,666 shares of the company’s stock after purchasing an additional 303,079 shares during the quarter. HighTower Advisors LLC’s holdings in RTX were worth $300,508,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in RTX by 24.3% in the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock valued at $1,969,000 after acquiring an additional 3,332 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in RTX by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock valued at $564,000 after acquiring an additional 159 shares in the last quarter. SageView Advisory Group LLC raised its holdings in RTX by 17.6% in the 4th quarter. SageView Advisory Group LLC now owns 14,033 shares of the company’s stock valued at $1,624,000 after acquiring an additional 2,099 shares in the last quarter. Mariner LLC raised its holdings in RTX by 3.4% in the 4th quarter. Mariner LLC now owns 387,389 shares of the company’s stock valued at $44,828,000 after acquiring an additional 12,778 shares in the last quarter. Finally, CreativeOne Wealth LLC raised its holdings in RTX by 13.2% in the 4th quarter. CreativeOne Wealth LLC now owns 20,463 shares of the company’s stock valued at $2,368,000 after acquiring an additional 2,391 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Barclays lifted their price objective on RTX from $130.00 to $153.00 and gave the company an “equal weight” rating in a report on Tuesday, July 29th. Jefferies Financial Group reissued a “hold” rating on shares of RTX in a report on Monday, July 21st. Royal Bank Of Canada reissued an “outperform” rating and set a $170.00 price target (up previously from $165.00) on shares of RTX in a report on Wednesday, July 23rd. DZ Bank raised RTX from a “sell” rating to a “hold” rating and set a $129.00 price target for the company in a report on Friday, April 25th. Finally, Sanford C. Bernstein set a $154.00 price target on RTX and gave the stock a “market perform” rating in a report on Friday, July 11th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and a consensus target price of $158.67.

RTX Trading Down 0.0%

NYSE RTX opened at $154.84 on Tuesday. The business’s 50-day moving average price is $148.22 and its two-hundred day moving average price is $135.73. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $158.79. The firm has a market capitalization of $207.25 billion, a PE ratio of 34.03, a price-to-earnings-growth ratio of 2.85 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.

RTX (NYSE:RTX) last released its quarterly 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. RTX had a return on equity of 12.89% and a net margin of 7.35%. The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same quarter in the previous year, the company posted $1.41 EPS. The business’s revenue was up 9.4% on a year-over-year basis. On average, analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.8%. RTX’s dividend payout ratio (DPR) is presently 59.78%.

Insider Buying and Selling

In other news, insider Philip J. Jasper sold 12,847 shares of the business’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $157.82, for a total value of $2,027,513.54. Following the transaction, the insider directly owned 17,684 shares of the company’s stock, valued at $2,790,888.88. The trade was a 42.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ramsaran Maharajh sold 1,462 shares of the business’s stock in a transaction dated 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 $2,007,395.84. This represents a 9.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,935 shares of company stock worth $5,938,488. Corporate insiders own 0.15% of the company’s stock.

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.