PAX Financial Group LLC Sells 1,761 Shares of RTX Corporation $RTX
by Sarita Garza · The Markets DailyPAX Financial Group LLC reduced its holdings in RTX Corporation (NYSE:RTX – Free Report) by 37.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 2,940 shares of the company’s stock after selling 1,761 shares during the quarter. PAX Financial Group LLC’s holdings in RTX were worth $429,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Brookwood Investment Group LLC bought a new stake in RTX during the first quarter valued at about $1,288,000. Redwood Financial Network Corp bought a new stake in RTX during the 1st quarter worth approximately $243,000. Zuckerman Investment Group LLC raised its stake in RTX by 54.1% during the 1st quarter. Zuckerman Investment Group LLC now owns 5,790 shares of the company’s stock worth $767,000 after acquiring an additional 2,033 shares during the period. MGO One Seven LLC boosted its position in shares of RTX by 10.2% in the second quarter. MGO One Seven LLC now owns 27,620 shares of the company’s stock worth $4,033,000 after purchasing an additional 2,554 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in shares of RTX in the first quarter worth $581,000. 86.50% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on RTX shares. UBS Group lifted their target price on shares of RTX from $197.00 to $202.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $195.00 target price on shares of RTX in a research note on Wednesday, October 8th. Bank of America increased their price objective on shares of RTX from $175.00 to $215.00 and gave the company a “buy” rating in a report on Monday, October 27th. Barclays boosted their target price on shares of RTX from $130.00 to $153.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 29th. Finally, The Goldman Sachs Group raised their target price on shares of RTX from $151.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $178.47.
View Our Latest Stock Report on RTX
Insider Activity
In related news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $180.15, for a total transaction of $873,547.35. Following the transaction, the executive vice president owned 59,556 shares in the company, valued at $10,729,013.40. This trade represents a 7.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Shane G. Eddy sold 25,968 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $159.79, for a total value of $4,149,426.72. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.15% of the company’s stock.
RTX Price Performance
RTX stock opened at $175.64 on Tuesday. The stock has a market cap of $235.50 billion, a price-to-earnings ratio of 36.07, a PEG ratio of 2.79 and a beta of 0.64. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $181.31. The company has a quick ratio of 0.81, a current ratio of 1.07 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average price of $167.32 and a 200 day moving average price of $153.77.
RTX (NYSE:RTX – Get Free Report) last released its quarterly earnings data on Tuesday, October 21st. The company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.29. RTX had a net margin of 7.67% and a return on equity of 13.28%. The company had revenue of $22.48 billion for the quarter, compared to analysts’ expectations of $21.26 billion. During the same quarter last year, the company earned $1.45 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. Equities research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.
RTX Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Friday, November 21st will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, November 21st. RTX’s dividend payout ratio is currently 55.85%.
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.
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