Verdence Capital Advisors LLC Purchases 5,831 Shares of RTX Co. (NYSE:RTX)
Verdence Capital Advisors LLC increased its position in RTX Co. shares by 24.1%, acquiring 5,831 additional shares, totaling 30,042 shares valued at approximately $1,016,000. Other institutional investors also significantly increased their holdings in RTX. Recent insider transactions included VP Amy L. Johnson and Chairman Gregory Hayes selling shares, while RTX stock saw a modest rise of 0.1%, currently trading at $70.68. The company reported a strong EPS of $0.41, exceeding estimates of $0.30, with revenue of $17.92 billion for the quarter, a 7.7% year-over-year increase.
Verdence Capital Advisors LLC increased its position in shares of RTX Co. (NYSE:RTX - Free Report) by 24.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,042 shares of the company's stock after acquiring an additional 5,831 shares during the period. Verdence Capital Advisors LLC's holdings in RTX were worth $3,016,000 at the end of the most recent reporting period.
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A number of other institutional investors and hedge funds have also bought and sold shares of RTX. Capital Research Global Investors raised its holdings in RTX by 23.7% in the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company's stock valued at $7,608,822,000 after buying an additional 17,351,313 shares during the last quarter. Capital International Investors lifted its holdings in shares of RTX by 20.6% during the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company's stock worth $5,488,752,000 after purchasing an additional 11,163,222 shares during the period. Norges Bank bought a new stake in shares of RTX in the fourth quarter worth $690,154,000. Massachusetts Financial Services Co. MA increased its holdings in RTX by 82.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company's stock valued at $1,288,157,000 after purchasing an additional 6,932,011 shares during the period. Finally, Van ECK Associates Corp raised its position in RTX by 129.9% during the 4th quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company's stock worth $341,710,000 after purchasing an additional 2,294,908 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.
Insider Transactions at RTX
In related news, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the sale, the vice president now directly owns 12,318 shares of the company's stock, valued at $1,402,773.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Amy L. Johnson sold 6,734 shares of the firm's stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the sale, the vice president now owns 12,318 shares in the company, valued at $1,402,773.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock worth $20,861,880 in the last 90 days. Insiders own 0.13% of the company's stock.
RTX Stock Up 0.1 %
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Shares of NYSE:RTX traded up $0.16 during midday trading on Monday, hitting $118.68. 6,260,443 shares of the company's stock were exchanged, compared to its average volume of 7,209,688. RTX Co. has a 12 month low of $68.56 and a 12 month high of $119.73. The company has a market cap of $157.79 billion, a PE ratio of 46.56, a price-to-earnings-growth ratio of 2.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The stock has a 50 day moving average price of $108.59 and a 200-day moving average price of $102.32.
RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.30 by $0.11. The firm had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.29 earnings per share. On average, sell-side analysts anticipate that RTX Co. will post 5.45 EPS for the current fiscal year.
RTX Announces Dividend
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The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.12%. RTX's dividend payout ratio is currently 98.82%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Barclays increased their price target on RTX from $90.00 to $100.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 30th. Susquehanna boosted their price target on shares of RTX from $119.00 to $140.00 and gave the stock a "positive" rating in a research report on Friday, July 26th. Alembic Global Advisors upgraded shares of RTX from a "neutral" rating to an "overweight" rating and set a $134.00 price objective for the company in a research report on Tuesday, July 30th. Melius Research boosted their target price on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Finally, StockNews.com raised RTX from a "hold" rating to a "buy" rating in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, RTX has a consensus rating of "Hold" and a consensus target price of $153.47.
View Our Latest Research Report on RTX
RTX Company Profile
(Free Report)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.
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