RTX Co. (NYSE:RTX) Shares Bought by D.A. Davidson & CO.

D.A. Davidson & CO. increased its stake in RTX Co. (NYSE:RTX) by 1.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 769,370 shares of the company’s stock after acquiring an additional 11,104 shares during the quarter. RTX makes up 0.7% of D.A. Davidson & CO.’s holdings, making the stock its 29th largest holding. D.A. Davidson & CO. owned about 0.06% of RTX worth $77,237,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the business. RFG Advisory LLC increased its stake in RTX by 96.1% during the first quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after acquiring an additional 19,779 shares during the period. TCW Group Inc. acquired a new stake in shares of RTX in the 4th quarter valued at about $1,912,000. Robinson Smith Wealth Advisors LLC bought a new position in shares of RTX in the 4th quarter valued at about $672,000. AllGen Financial Advisors Inc. grew its holdings in shares of RTX by 12.8% in the 4th quarter. AllGen Financial Advisors Inc. now owns 32,325 shares of the company’s stock valued at $2,720,000 after acquiring an additional 3,657 shares in the last quarter. Finally, Gryphon Financial Partners LLC bought a new position in RTX during the fourth quarter worth about $474,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Price Performance

RTX stock traded up $1.05 on Friday, hitting $123.34. 6,371,993 shares of the company’s stock traded hands, compared to its average volume of 5,312,287. RTX Co. has a 1-year low of $68.56 and a 1-year high of $123.70. The stock has a fifty day moving average of $110.19 and a 200-day moving average of $103.29. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The stock has a market cap of $164.07 billion, a price-to-earnings ratio of 48.37, a P/E/G ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly 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. The firm had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $1.29 EPS. On average, analysts forecast that RTX Co. will post 5.45 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.04%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RTX shares. Susquehanna upped their price target on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Royal Bank of Canada raised their price target on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Melius Research boosted their price objective on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. TD Cowen upped their price target on shares of RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, RTX presently has a consensus rating of “Hold” and a consensus price target of $153.47.

Insiders Place Their Bets

In other news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Shane G. Eddy sold 6,741 shares of the firm’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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred 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 transaction, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is currently owned by insiders.

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.