Aberdeen Group plc Increases Stock Position in RTX Corporation (NYSE:RTX)

Aberdeen Group plc boosted its position in shares of RTX Corporation (NYSE:RTX) by 1.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 571,720 shares of the company’s stock after acquiring an additional 6,370 shares during the period. Aberdeen Group plc’s holdings in RTX were worth $75,224,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RTX. MorganRosel Wealth Management LLC purchased a new stake in RTX during the first quarter valued at approximately $26,000. 10Elms LLP purchased a new stake in RTX during the fourth quarter valued at approximately $29,000. Greenline Partners LLC purchased a new stake in RTX during the fourth quarter valued at approximately $34,000. Mpwm Advisory Solutions LLC purchased a new stake in RTX during the fourth quarter valued at approximately $43,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in RTX during the first quarter valued at approximately $44,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the subject of a number of analyst reports. Citigroup increased their target price on shares of RTX from $148.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, July 14th. UBS Group upped their price target 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. JPMorgan Chase & Co. upped their price target on shares of RTX from $145.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. DZ Bank upgraded shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price target on the stock in a research note on Friday, April 25th. Finally, Cowen restated a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $158.67.

RTX Stock Performance

Shares of NYSE RTX opened at $154.04 on Friday. The company’s fifty day moving average price is $149.54 and its 200 day moving average price is $136.40. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $158.79. The company has a market capitalization 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 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 results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.11. RTX had a net margin of 7.35% and a return on equity of 12.89%. The firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $20.68 billion. During the same period in the prior year, the firm posted $1.41 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, research analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors 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 yield of 1.8%. RTX’s dividend payout ratio (DPR) is presently 59.78%.

Insider Activity

In other RTX news, EVP Ramsaran Maharajh sold 1,462 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the transaction, the executive vice president directly owned 13,184 shares of the company’s stock, valued at $2,007,395.84. This trade represents a 9.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Kevin G. Dasilva sold 8,704 shares of the stock in a transaction on 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,589 shares of company stock valued at $7,126,389 in the last three months. 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.