Advisors Capital Management LLC Grows Position in RTX Corporation $RTX

Advisors Capital Management LLC grew its holdings in shares of RTX Corporation (NYSE:RTX) by 1.3% in the 1st quarter, HoldingsChannel reports. The firm owned 392,224 shares of the company’s stock after acquiring an additional 5,081 shares during the quarter. Advisors Capital Management LLC’s holdings in RTX were worth $51,954,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. MorganRosel Wealth Management LLC bought a new stake in shares of RTX in the first quarter valued at approximately $26,000. 10Elms LLP purchased a new position in RTX during the 4th quarter valued at about $29,000. Summit Securities Group LLC purchased a new position in RTX during the 1st quarter valued at about $40,000. Mpwm Advisory Solutions LLC purchased a new position in RTX during the 4th quarter valued at about $43,000. Finally, McClarren Financial Advisors Inc. purchased a new position in RTX during the 1st quarter valued at about $44,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Sanford C. Bernstein lifted their target price on RTX from $154.00 to $157.00 and gave the company a “market perform” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their target price on RTX from $145.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Wall Street Zen lowered RTX from a “buy” rating to a “hold” rating in a report on Saturday, June 21st. Bank of America lifted their target price on RTX from $150.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Finally, Cowen reiterated a “buy” rating on shares of RTX in a research report on Friday, May 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and an average target price of $158.87.

Insider Buying and Selling

In related news, EVP Ramsaran Maharajh sold 1,462 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total value of $222,604.12. Following the completion of the sale, the executive vice president owned 13,184 shares in the company, valued at $2,007,395.84. The trade was a 9.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Philip J. Jasper sold 12,847 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $157.82, for a total value of $2,027,513.54. Following the completion of the sale, the insider owned 17,684 shares of the company’s stock, valued at $2,790,888.88. The trade was a 42.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,635 shares of company stock worth $8,947,010 over the last ninety days. Corporate insiders own 0.15% of the company’s stock.

RTX Stock Up 2.1%

Shares of NYSE RTX opened at $154.88 on Thursday. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $161.26. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $207.32 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 2.80 and a beta of 0.67. The business has a 50-day moving average of $154.20 and a 200-day moving average of $140.15.

RTX (NYSE:RTX) last released its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.11. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%.RTX’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 EPS. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Sell-side analysts expect that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were given a $0.68 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.72 dividend on an annualized basis and a yield of 1.8%. RTX’s payout ratio is presently 59.78%.

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.