AlTi Global Inc. Lowers Stake in RTX Corporation $RTX

Key Points

• AlTi Global Inc. reduced its stake in RTX Corporation by 17.9%, owning 13,705 shares valued at approximately $1.8 million after selling 2,990 shares in the first quarter.
• Insider transactions included VP Kevin G. Dasilva selling 8,704 shares for over $1.35 million, representing a 22.49% reduction in his ownership, while other insiders sold 56,635 shares totaling nearly $8.95 million in the last quarter.
• RTX Corporation reported a 9.4% year-over-year revenue increase to $21.58 billion and beat earnings estimates with $1.56 earnings per share, setting FY 2025 guidance at $5.800-5.950 EPS.

AlTi Global Inc. lowered its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 17.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,705 shares of the company's stock after selling 2,990 shares during the quarter. AlTi Global Inc.'s holdings in RTX were worth $1,816,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings 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 buying an additional 3,332 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of RTX by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock worth $564,000 after buying an additional 159 shares in the last quarter. AXA S.A. lifted its holdings in shares of RTX by 63.1% in the fourth quarter. AXA S.A. now owns 14,366 shares of the company's stock worth $1,662,000 after buying an additional 5,559 shares in the last quarter. Bridgefront Capital LLC purchased a new position in shares of RTX in the fourth quarter worth $322,000. Finally, Concentric Capital Strategies LP lifted its holdings in shares of RTX by 183.6% in the fourth quarter. Concentric Capital Strategies LP now owns 188,195 shares of the company's stock worth $21,778,000 after buying an additional 121,830 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insiders Place Their Bets

In other news, VP Kevin G. Dasilva sold 8,704 shares of the 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 owned 30,004 shares of the company's stock, valued at approximately $4,686,624.80. This represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Shane G. Eddy sold 25,968 shares of the 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. In the last quarter, insiders have sold 56,635 shares of company stock valued at $8,947,010. 0.15% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RTX. Jefferies Financial Group reissued a "hold" rating on shares of RTX in a report on Monday, July 21st. Wall Street Zen downgraded shares of RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. UBS Group boosted their target price on shares of RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada reiterated an "outperform" rating and set a $170.00 price objective (up previously from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Finally, Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a research report on Wednesday, May 14th. 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 data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $158.67.

RTX Price Performance

RTX stock opened at $157.95 on Thursday. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $161.26. 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 company has a fifty day simple moving average of $153.11 and a two-hundred day simple moving average of $139.07. The firm has a market capitalization of $211.42 billion, a P/E ratio of 34.71, a price-to-earnings-growth ratio of 2.92 and a beta of 0.67.

RTX (NYSE:RTX - Get Free Report) last announced its 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. RTX had a net margin of 7.35% and a return on equity of 12.89%. The business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $20.68 billion. During the same quarter in the prior year, the firm posted $1.41 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.72 annualized dividend and a dividend yield of 1.7%. RTX's dividend payout ratio is currently 59.78%.

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.

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