Modern Wealth Management LLC Buys 1,966 Shares of RTX Corporation $RTX

by · The Cerbat Gem

Modern Wealth Management LLC increased its stake in RTX Corporation (NYSE:RTX – Free Report) by 4.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,378 shares of the company’s stock after purchasing an additional 1,966 shares during the period. Modern Wealth Management LLC’s holdings in RTX were worth $5,746,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of RTX. Brighton Jones LLC increased its position in shares of RTX by 24.3% in the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock worth $1,969,000 after purchasing an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC grew its position in RTX by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock valued at $564,000 after acquiring an additional 159 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its position in RTX by 0.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 162,585 shares of the company’s stock valued at $18,975,000 after acquiring an additional 1,181 shares during the last quarter. Man Group plc grew its position in RTX by 466.7% during the fourth quarter. Man Group plc now owns 416,256 shares of the company’s stock valued at $48,169,000 after acquiring an additional 342,803 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in RTX by 14.3% during the fourth quarter. ProShare Advisors LLC now owns 192,663 shares of the company’s stock valued at $22,295,000 after acquiring an additional 24,168 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on RTX shares. Jefferies Financial Group reiterated a “hold” rating on shares of RTX in a research report on Monday, July 21st. JPMorgan Chase & Co. increased their price target on shares of RTX from $145.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $170.00 price target (up from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Susquehanna increased their price target on shares of RTX from $160.00 to $175.00 and gave the company a “positive” rating in a research report on Wednesday, July 23rd. Finally, Cowen reiterated a “buy” rating on shares of RTX in a research report on Friday, May 23rd. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and an average price target of $158.87.

View Our Latest Stock Report on RTX

Insiders Place Their Bets

In related news, insider Philip J. Jasper sold 12,847 shares of RTX stock in a transaction on Monday, August 4th. The shares were sold at an average price of $157.82, for a total value of $2,027,513.54. Following the sale, the insider owned 17,684 shares in the company, valued at $2,790,888.88. The trade was a 42.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shane G. Eddy sold 25,968 shares of RTX stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $159.79, for a total transaction of $4,149,426.72. The disclosure for this sale can be found here. Insiders have sold a total of 56,635 shares of company stock valued at $8,947,010 over the last quarter. 0.15% of the stock is owned by company insiders.

RTX Trading Up 1.8%

Shares of RTX opened at $157.79 on Friday. The stock has a market capitalization of $211.21 billion, a P/E ratio of 34.68, a PEG ratio of 2.86 and a beta of 0.67. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The firm has a fifty day simple moving average of $154.44 and a two-hundred day simple moving average of $140.38. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $161.26.

RTX (NYSE:RTX – Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.11. The business had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.41 EPS. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. On average, research analysts anticipate that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were issued a $0.68 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.72 annualized dividend and a yield of 1.7%. RTX’s payout ratio is 59.78%.

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.

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