Franklin Resources Inc. Acquires 221,984 Shares of RTX Corporation $RTX

Franklin Resources Inc. lifted its stake in RTX Corporation (NYSE:RTX) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,575,867 shares of the company’s stock after buying an additional 221,984 shares during the period. RTX makes up approximately 0.6% of Franklin Resources Inc.’s holdings, making the stock its 29th largest holding. Franklin Resources Inc.’s holdings in RTX were worth $2,274,388,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Brookwood Investment Group LLC purchased a new stake in shares of RTX in the 1st quarter worth about $1,288,000. MGO One Seven LLC boosted its holdings in shares of RTX by 10.2% during the 2nd quarter. MGO One Seven LLC now owns 27,620 shares of the company’s stock valued at $4,033,000 after acquiring an additional 2,554 shares during the last quarter. Redwood Financial Network Corp bought a new position in RTX during the first quarter valued at approximately $243,000. Zuckerman Investment Group LLC boosted its holdings in RTX by 54.1% in the first quarter. Zuckerman Investment Group LLC now owns 5,790 shares of the company’s stock worth $767,000 after purchasing an additional 2,033 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new position in shares of RTX in the 1st quarter worth $581,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

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 completion of the sale, the executive vice president directly owned 59,556 shares of the company’s stock, valued at approximately $10,729,013.40. This trade represents a 7.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shane G. Eddy sold 25,968 shares of the business’s stock in a transaction 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. 0.15% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RTX shares. Wall Street Zen raised shares of RTX from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of RTX in a research report on Friday, October 31st. Sanford C. Bernstein increased their price objective on shares of RTX from $157.00 to $181.00 and gave the stock a “market perform” rating in a research note on Monday, October 6th. Susquehanna boosted their price objective on RTX from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, October 22nd. Finally, Bank of America upped their price objective on RTX from $175.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.44.

RTX Trading Down 0.5%

Shares of NYSE RTX opened at $172.88 on Friday. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $181.31. 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’s 50 day moving average is $168.46 and its two-hundred day moving average is $154.35. The stock has a market capitalization of $231.79 billion, a P/E ratio of 35.50, a PEG ratio of 2.79 and a beta of 0.64.

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

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Friday, November 21st will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, November 21st. RTX’s dividend payout ratio is presently 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.