Diversified LLC Acquires Shares of 2,019 RTX Co. (NYSE:RTX)

Diversified LLC acquired a new stake in RTX Co. (NYSE:RTX) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,019 shares of the company’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lynx Investment Advisory acquired a new stake in shares of RTX during the 2nd quarter worth $26,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of RTX during the 4th quarter worth $38,000. Fairman Group LLC acquired a new stake in shares of RTX during the 4th quarter worth $38,000. Beaird Harris Wealth Management LLC grew its holdings in shares of RTX by 42.2% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock worth $39,000 after purchasing an additional 139 shares in the last quarter. Finally, USA Financial Formulas boosted its stake in RTX by 510.3% in the fourth quarter. USA Financial Formulas now owns 476 shares of the company’s stock valued at $40,000 after buying an additional 398 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RTX shares. Wells Fargo & Company reduced their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research note on Tuesday, July 30th. The Goldman Sachs Group increased their target price on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, TD Cowen increased their target price on RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $153.47.

Insider Transactions at RTX

In other news, VP Amy L. Johnson sold 6,734 shares of the company’s 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value 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 disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock valued at $20,861,880 over the last ninety days. 0.13% of the stock is owned by company insiders.

RTX Trading Up 0.4 %

Shares of RTX stock traded up $0.50 on Friday, reaching $118.52. 3,427,510 shares of the company’s stock were exchanged, compared to its average volume of 7,215,377. The company has a market capitalization of $157.57 billion, a P/E ratio of 46.48, a price-to-earnings-growth ratio of 2.08 and a beta of 0.82. RTX Co. has a 52 week low of $68.56 and a 52 week high of $118.99. The firm’s 50-day moving average is $108.59 and its two-hundred day moving average is $102.17. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 EPS. Sell-side analysts predict that RTX Co. will post 5.44 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s payout ratio is 98.82%.

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.