KFA Private Wealth Group LLC Invests $212,000 in RTX Corporation (NYSE:RTX)

by · The Cerbat Gem

KFA Private Wealth Group LLC bought a new position in RTX Corporation (NYSE:RTX – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,603 shares of the company’s stock, valued at approximately $212,000.

Several other hedge funds also recently made changes to their positions in the company. Bay Capital Advisors LLC purchased a new position in RTX during the 1st quarter valued at about $224,000. Dynamic Advisor Solutions LLC increased its holdings in RTX by 8.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company’s stock valued at $4,591,000 after acquiring an additional 2,686 shares in the last quarter. Deutsche Bank AG increased its holdings in RTX by 46.0% during the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company’s stock valued at $344,075,000 after acquiring an additional 936,953 shares in the last quarter. Brookwood Investment Group LLC purchased a new position in RTX during the 1st quarter valued at about $1,288,000. Finally, LBP AM SA increased its holdings in RTX by 17.7% during the 1st quarter. LBP AM SA now owns 279,179 shares of the company’s stock valued at $36,980,000 after acquiring an additional 41,990 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president owned 16,538 shares in the company, valued at $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ramsaran Maharajh sold 1,462 shares of the company’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total transaction of $222,604.12. Following the transaction, the executive vice president owned 13,184 shares of the company’s stock, valued at $2,007,395.84. This represents a 9.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,530 shares of company stock worth $3,080,191 over the last 90 days. Insiders own 0.15% of the company’s stock.

RTX Trading Up 1.1%

Shares of RTX stock opened at $156.86 on Monday. The firm’s 50 day moving average price is $143.48 and its two-hundred day moving average price is $133.04. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $157.33. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The stock has a market cap of $209.96 billion, a price-to-earnings ratio of 34.47, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64.

RTX (NYSE:RTX – Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.11. The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.41 earnings per share. On average, analysts anticipate that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.73%. RTX’s payout ratio is 59.78%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RTX shares. Morgan Stanley raised their target price on shares of RTX from $165.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Bank of America raised their target price on shares of RTX from $150.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Benchmark raised shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Wednesday, May 14th. The Goldman Sachs Group boosted their price objective on shares of RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a research report on Monday, June 23rd. Finally, Susquehanna boosted their price objective on shares of RTX from $160.00 to $175.00 and gave the company a “positive” rating in a research report on Wednesday, July 23rd. Six research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $155.69.

Get 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.

Further Reading

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