Legal & General Group Plc Acquires 286,470 Shares of RTX Corporation $RTX

by · The Markets Daily

Legal & General Group Plc grew its holdings in RTX Corporation (NYSE:RTX – Free Report) by 4.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,320,845 shares of the company’s stock after purchasing an additional 286,470 shares during the period. Legal & General Group Plc owned about 0.47% of RTX worth $922,970,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Nuveen LLC bought a new stake in RTX during the 1st quarter worth about $916,739,000. Vanguard Group Inc. boosted its position in RTX by 1.9% during the second quarter. Vanguard Group Inc. now owns 122,074,734 shares of the company’s stock valued at $17,825,353,000 after purchasing an additional 2,238,247 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of RTX by 28.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company’s stock worth $845,784,000 after purchasing an additional 1,394,918 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of RTX by 9.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 15,958,191 shares of the company’s stock worth $2,330,215,000 after purchasing an additional 1,361,071 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its stake in shares of RTX by 1,178.2% in the first quarter. 1832 Asset Management L.P. now owns 1,212,353 shares of the company’s stock valued at $160,588,000 after buying an additional 1,117,506 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. The Goldman Sachs Group increased their price target 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. Robert W. Baird set a $203.00 price target on RTX in a research report on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $195.00 target price on shares of RTX in a research note on Wednesday, October 8th. BNP Paribas Exane began coverage on RTX in a research note on Tuesday. They issued an “outperform” rating and a $210.00 price target on the stock. Finally, UBS Group lifted their price objective on shares of RTX from $197.00 to $202.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.44.

Read Our Latest Stock Report on RTX

RTX Stock Performance

RTX opened at $172.88 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.07 and a quick ratio of 0.81. The business has a fifty day simple moving average of $168.46 and a 200 day simple moving average of $154.35. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $181.31. The company has a market capitalization of $231.79 billion, a PE ratio of 35.50, a price-to-earnings-growth ratio of 2.79 and a beta of 0.64.

RTX (NYSE:RTX – Get Free Report) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.29. The firm had revenue of $22.48 billion for the quarter, compared to analysts’ expectations of $21.26 billion. RTX had a return on equity of 13.28% and a net margin of 7.67%.The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.45 EPS. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. Research analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The firm 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. The ex-dividend date is Friday, November 21st. This represents a $2.72 annualized dividend and a yield of 1.6%. RTX’s payout ratio is 55.85%.

Insider Transactions at RTX

In related news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the business’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 value of $873,547.35. Following the completion of the sale, the executive vice president directly owned 59,556 shares in the company, valued at approximately $10,729,013.40. The trade was a 7.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Shane G. Eddy sold 25,968 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was 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. Insiders own 0.15% of the company’s stock.

RTX Company Profile

(Free Report)

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.

Further Reading

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