Altrinsic Global Advisors LLC Lowers Stock Position in RTX Corporation $RTX

Key Points

• Altrinsic Global Advisors LLC reduced its stake in RTX Corporation by 5.9%, now holding 116,760 shares worth approximately $15.47 million, making it the firm's 19th largest holding.
• RTX reported quarterly earnings of $1.56 per share, exceeding analysts' estimates, with a revenue of $21.58 billion, a 9.4% increase from the previous year.
• The company announced a quarterly dividend of $0.68 per share, translating to an annualized dividend of $2.72 and a yield of 1.7%.

Altrinsic Global Advisors LLC cut its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 116,760 shares of the company's stock after selling 7,358 shares during the quarter. RTX accounts for approximately 0.8% of Altrinsic Global Advisors LLC's holdings, making the stock its 19th biggest position. Altrinsic Global Advisors LLC's holdings in RTX were worth $15,466,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RTX. PKS Advisory Services LLC lifted its stake in shares of RTX by 2.4% in the 1st quarter. PKS Advisory Services LLC now owns 5,932 shares of the company's stock worth $786,000 after acquiring an additional 140 shares during the period. J. Stern & Co. LLP raised its holdings in RTX by 9.3% during the first quarter. J. Stern & Co. LLP now owns 364,274 shares of the company's stock worth $48,252,000 after purchasing an additional 30,930 shares in the last quarter. Widmann Financial Services Inc. lifted its position in RTX by 1.0% in the first quarter. Widmann Financial Services Inc. now owns 16,272 shares of the company's stock valued at $2,155,000 after purchasing an additional 161 shares during the period. Orion Capital Management LLC boosted its holdings in RTX by 574.1% in the 1st quarter. Orion Capital Management LLC now owns 6,337 shares of the company's stock valued at $839,000 after purchasing an additional 5,397 shares in the last quarter. Finally, South Plains Financial Inc. increased its position in RTX by 57.1% during the 1st quarter. South Plains Financial Inc. now owns 4,916 shares of the company's stock worth $651,000 after purchasing an additional 1,786 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Price Performance

Shares of RTX traded up $0.92 during trading hours on Thursday, reaching $160.76. 3,116,368 shares of the company traded hands, compared to its average volume of 3,918,701. The stock has a market capitalization of $215.18 billion, a PE ratio of 35.33, a price-to-earnings-growth ratio of 2.95 and a beta of 0.69. The stock has a fifty day simple moving average of $151.96 and a 200 day simple moving average of $138.18. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two 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.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.41 EPS. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, research analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

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

Insider Buying and Selling

In other RTX news, insider Philip J. Jasper sold 12,847 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $157.82, for a total value of $2,027,513.54. Following the completion of the transaction, the insider directly owned 17,684 shares in the company, valued at approximately $2,790,888.88. The trade was a 42.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the sale, the executive vice president owned 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,557 shares of company stock worth $11,275,816 in the last three months. 0.15% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

RTX has been the subject of several recent analyst reports. Sanford C. Bernstein set a $154.00 price target on RTX and gave the company a "market perform" rating in a report on Friday, July 11th. The Goldman Sachs Group raised 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. Morgan Stanley boosted their target price on shares of RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Susquehanna boosted their price objective on shares of RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. Finally, Bank of America upped 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. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.67.

RTX 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.