First Horizon Advisors Inc. Buys 500 Shares of RTX Co. (NYSE:RTX)

First Horizon Advisors Inc. grew its stake in RTX Co. (NYSE:RTX) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,724 shares of the company’s stock after buying an additional 500 shares during the quarter. First Horizon Advisors Inc.’s holdings in RTX were worth $3,586,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in RTX. International Assets Investment Management LLC grew its stake in shares of RTX by 12,753.8% during the 4th quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company’s stock worth $117,799,000 after acquiring an additional 1,389,143 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new position in RTX in the fourth quarter valued at $38,000. Twin Capital Management Inc. acquired a new stake in RTX in the 4th quarter valued at $417,000. Resonant Capital Advisors LLC lifted its position in RTX by 11.9% during the 4th quarter. Resonant Capital Advisors LLC now owns 8,355 shares of the company’s stock worth $703,000 after buying an additional 886 shares in the last quarter. Finally, Naples Money Management LLC acquired a new position in shares of RTX during the 4th quarter worth about $42,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on RTX shares. Susquehanna raised their target price on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. TD Cowen raised their price objective on RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Melius Research boosted their target price on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Finally, Barclays raised their price target on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, RTX has an average rating of “Hold” and a consensus price target of $153.47.

RTX Trading Up 0.1 %

NYSE RTX traded up $0.14 on Tuesday, hitting $118.49. The company’s stock had a trading volume of 565,987 shares, compared to its average volume of 7,252,146. The firm has a market cap of $157.53 billion, a PE ratio of 46.41, a PEG ratio of 2.08 and a beta of 0.82. The company’s 50-day moving average is $107.61 and its 200 day moving average is $101.59. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. RTX Co. has a 1-year low of $68.56 and a 1-year high of $118.99.

RTX (NYSE:RTX) last released its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. During the same quarter in the previous year, the business earned $1.29 earnings per share. RTX’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, analysts predict that RTX Co. will post 5.44 earnings per share for the current fiscal year.

RTX Announces Dividend

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

Insider Buying and Selling at RTX

In other RTX news, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other RTX news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 178,333 shares of company stock valued at $20,861,880. Corporate insiders own 0.13% of the company’s stock.

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.