Signature Estate & Investment Advisors LLC Makes New $709,000 Investment in RTX Co. (NYSE:RTX)

Signature Estate & Investment Advisors LLC bought a new position in RTX Co. (NYSE:RTX) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 7,067 shares of the company’s stock, valued at approximately $709,000.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in RTX by 10.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 435,633 shares of the company’s stock valued at $43,733,000 after acquiring an additional 41,779 shares during the period. Callan Family Office LLC boosted its holdings in RTX by 10.4% during the 2nd quarter. Callan Family Office LLC now owns 4,686 shares of the company’s stock valued at $470,000 after acquiring an additional 441 shares during the period. Alpha Omega Wealth Management LLC lifted its holdings in RTX by 0.6% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after buying an additional 89 shares during the period. Pegasus Asset Management Inc. lifted its holdings in RTX by 0.8% in the 2nd quarter. Pegasus Asset Management Inc. now owns 49,661 shares of the company’s stock worth $4,985,000 after buying an additional 394 shares during the period. Finally, Rational Advisors LLC lifted its holdings in RTX by 69.5% in the 2nd quarter. Rational Advisors LLC now owns 2,370 shares of the company’s stock worth $238,000 after buying an additional 972 shares during the period. 86.50% of the stock is currently owned by institutional investors.

Insider Activity at RTX

In other RTX news, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the sale, the vice president now owns 12,318 shares in the company, valued at approximately $1,402,773.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the sale, the vice president now owns 12,318 shares in the company, valued at $1,402,773.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shane G. Eddy sold 6,741 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock valued at $20,861,880 in the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RTX. TD Cowen increased their price objective on RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Barclays increased their target price on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Melius Research increased their target price on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Wells Fargo & Company decreased their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada raised their price objective on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $153.47.

RTX Price Performance

Shares of RTX stock opened at $119.49 on Wednesday. RTX Co. has a 52-week low of $68.56 and a 52-week high of $119.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The firm has a market capitalization of $158.86 billion, a P/E ratio of 46.86, a P/E/G ratio of 2.08 and a beta of 0.82. The stock has a 50 day moving average price of $109.17 and a 200 day moving average price of $102.71.

RTX (NYSE:RTX) last released its quarterly earnings results 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 analyst estimates of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.29 EPS. As a group, sell-side analysts predict that RTX Co. will post 5.45 earnings per share for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio is currently 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.