Oak Asset Management LLC Sells 4,152 Shares of RTX Corporation $RTX

Oak Asset Management LLC trimmed its holdings in RTX Corporation (NYSE:RTX) by 6.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 60,081 shares of the company’s stock after selling 4,152 shares during the period. RTX makes up about 3.4% of Oak Asset Management LLC’s holdings, making the stock its 5th largest holding. Oak Asset Management LLC’s holdings in RTX were worth $10,053,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RTX. Brighton Jones LLC boosted its stake in RTX by 24.3% during the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock worth $1,969,000 after buying an additional 3,332 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of RTX by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock worth $564,000 after acquiring an additional 159 shares during the last quarter. Calton & Associates Inc. purchased a new position in shares of RTX during the 1st quarter worth approximately $234,000. Focus Partners Advisor Solutions LLC boosted its position in shares of RTX by 50.7% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 26,483 shares of the company’s stock worth $3,508,000 after purchasing an additional 8,914 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new stake in RTX in the 1st quarter valued at approximately $223,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In related news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the stock in a transaction 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 transaction, the executive vice president owned 59,556 shares of the company’s stock, valued at $10,729,013.40. This represents a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on RTX shares. JPMorgan Chase & Co. raised their price target on RTX from $195.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. BNP Paribas Exane initiated coverage on RTX in a report on Tuesday, November 18th. They set an “outperform” rating and a $210.00 target price for the company. BNP Paribas raised RTX to a “strong-buy” rating in a research report on Tuesday, November 18th. The Goldman Sachs Group increased their price target on shares of RTX from $151.00 to $168.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Finally, Sanford C. Bernstein raised their price objective on shares of RTX from $157.00 to $181.00 and gave the company a “market perform” rating in a research note on Monday, October 6th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $184.18.

RTX Stock Performance

Shares of RTX opened at $183.93 on Wednesday. The stock has a 50-day simple moving average of $176.84 and a 200-day simple moving average of $162.89. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.07. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $188.00. The stock has a market capitalization of $246.61 billion, a PE ratio of 37.77, a PEG ratio of 2.92 and a beta of 0.44.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 21st. The company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.29. RTX had a net margin of 7.67% and a return on equity of 13.28%. The firm 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 was up 11.9% compared to the same quarter last year. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. On average, analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Friday, November 21st were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, November 21st. RTX’s payout ratio is 55.85%.

RTX Company Profile

RTX (NYSE: RTX) is a U.S.-based aerospace and defense company that designs, manufactures and services advanced systems for commercial, military and governmental customers worldwide. The company was created through the 2020 combination of Raytheon Company and United Technologies Corporation and later adopted the RTX name, positioning itself as a diversified provider across the aerospace and defense value chain.

RTX’s operations span a broad set of capabilities. Its commercial aerospace businesses include Pratt & Whitney aircraft engines and Collins Aerospace systems, which supply propulsion, avionics, aerostructures, interiors and integrated aircraft systems.