RTX Corporation $RTX Position Boosted by DAVENPORT & Co LLC

DAVENPORT & Co LLC boosted its holdings in shares of RTX Corporation (NYSE:RTX) by 2.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,083 shares of the company’s stock after purchasing an additional 2,562 shares during the period. DAVENPORT & Co LLC’s holdings in RTX were worth $16,512,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new position in shares of RTX in the 1st quarter worth $26,000. PFS Partners LLC boosted its position in shares of RTX by 101.1% in the 2nd quarter. PFS Partners LLC now owns 177 shares of the company’s stock valued at $26,000 after purchasing an additional 89 shares during the period. Summit Securities Group LLC purchased a new position in RTX in the 1st quarter worth about $40,000. McClarren Financial Advisors Inc. acquired a new stake in RTX during the 1st quarter worth about $44,000. Finally, Financial Gravity Asset Management Inc. purchased a new stake in RTX during the first quarter valued at about $50,000. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RTX shares. Bank of America lifted their target price on shares of RTX from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Citigroup lifted their price objective on shares of RTX from $148.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. The Goldman Sachs Group increased their target price on RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a report on Monday, June 23rd. JPMorgan Chase & Co. lifted their price target on RTX from $145.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Finally, Morgan Stanley increased their price objective on RTX from $165.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $160.47.

RTX Trading Up 1.5%

RTX stock opened at $169.03 on Tuesday. The company has a market capitalization of $226.25 billion, a price-to-earnings ratio of 37.15, a PEG ratio of 3.07 and a beta of 0.66. The company’s fifty day moving average price is $158.44 and its two-hundred day moving average price is $144.27. RTX Corporation has a one year low of $112.27 and a one year high of $169.75. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%.The business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $20.68 billion. During the same period last year, the business earned $1.41 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. On average, analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other RTX news, VP Kevin G. Dasilva sold 8,704 shares of the firm’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total value of $1,359,564.80. Following the sale, the vice president directly owned 30,004 shares in the company, valued at $4,686,624.80. This trade represents a 22.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Philip J. Jasper sold 12,847 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 17,684 shares in the company, valued at $2,790,888.88. This represents a 42.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,635 shares of company stock valued at $8,947,010 in the last ninety days. Company insiders own 0.15% of the company’s stock.

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.