Adams Diversified Equity Fund Inc. Has $15.11 Million Position in RTX Corporation $RTX

Key Points

• Adams Diversified Equity Fund Inc. reduced its stake in RTX Corporation by 24.0%, owning 103,500 shares worth approximately $15.11 million after selling 32,700 shares in the second quarter.
• Brokerages have raised their price targets for RTX, with Morgan Stanley increasing it from $165.00 to $180.00, while Bank of America set theirs at $175.00, reflecting a strong outlook on the stock.
• RTX reported $1.70 EPS for the last quarter, surpassing estimates and showing an increase in revenue by 11.9% compared to the same quarter last year.

Adams Diversified Equity Fund Inc. reduced its stake in RTX Corporation (NYSE:RTX - Free Report) by 24.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,500 shares of the company's stock after selling 32,700 shares during the period. Adams Diversified Equity Fund Inc.'s holdings in RTX were worth $15,113,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in RTX. Brighton Jones LLC boosted its stake in shares of RTX by 24.3% in the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock valued at $1,969,000 after purchasing an additional 3,332 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake 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 valued at $564,000 after purchasing an additional 159 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of RTX by 12.8% in the 1st quarter. GAMMA Investing LLC now owns 31,430 shares of the company's stock valued at $4,163,000 after purchasing an additional 3,561 shares in the last quarter. JFS Wealth Advisors LLC boosted its stake in shares of RTX by 9.3% in the 1st quarter. JFS Wealth Advisors LLC now owns 3,426 shares of the company's stock valued at $454,000 after purchasing an additional 292 shares in the last quarter. Finally, GHP Investment Advisors Inc. boosted its stake in shares of RTX by 0.6% in the 1st quarter. GHP Investment Advisors Inc. now owns 131,324 shares of the company's stock valued at $17,395,000 after purchasing an additional 822 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RTX. Morgan Stanley raised their price objective on shares of RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Bank of America raised their price objective on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Weiss Ratings reiterated a "buy (b-)" rating on shares of RTX in a report on Wednesday, October 8th. The Goldman Sachs Group raised their price objective on shares of RTX from $151.00 to $168.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, Barclays raised their price objective on shares of RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $166.93.

RTX Stock Up 7.6%

RTX stock opened at $173.00 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $178.76. The firm has a 50 day moving average price of $159.66 and a two-hundred day moving average price of $146.50. The firm has a market cap of $231.57 billion, a price-to-earnings ratio of 38.02, a PEG ratio of 2.98 and a beta of 0.66.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, October 21st. The company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.29. RTX had a net margin of 7.35% and a return on equity of 12.89%. The firm had revenue of $22.48 billion during the quarter, compared to analyst estimates of $21.26 billion. During the same quarter last year, the business earned $1.45 EPS. The company'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. Equities analysts predict that RTX Corporation will post 6.11 EPS for the current year.

Insider Activity

In other news, 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 value of $4,149,426.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $2,027,513.54. Following the completion of the sale, the insider owned 17,684 shares of the company's stock, valued at $2,790,888.88. This represents a 42.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,173 shares of company stock worth $8,724,406 in the last 90 days. 0.15% of the stock is owned by company insiders.

RTX Company Profile

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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