RTX Corporation $RTX Shares Sold by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC reduced its stake in RTX Corporation by 1.6% in the first quarter, holding 1,544,984 shares valued at approximately $203 million.
• RTX has received a mix of ratings from analysts, with target price increases from several firms, including Morgan Stanley raising it to $180, while maintaining a consensus rating of "Moderate Buy."
• The company announced a quarterly dividend of $0.68 per share, with a yield of 1.7%, set to be paid to investors of record on August 15th.

AQR Capital Management LLC trimmed its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,544,984 shares of the company's stock after selling 24,749 shares during the period. AQR Capital Management LLC owned 0.12% of RTX worth $203,104,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RTX. Nuveen LLC purchased a new position in shares of RTX in the first quarter worth about $916,739,000. GAMMA Investing LLC lifted its stake in shares of RTX by 14,838.5% in the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock worth $551,460,000 after buying an additional 4,135,349 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of RTX by 28.0% in the first quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company's stock worth $845,784,000 after buying an additional 1,394,918 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of RTX by 1.1% in the first quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock worth $15,873,541,000 after buying an additional 1,357,328 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in shares of RTX by 1,178.2% in the first quarter. 1832 Asset Management L.P. now owns 1,212,353 shares of the company's stock worth $160,588,000 after buying an additional 1,117,506 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other RTX news, insider Shane G. Eddy sold 25,968 shares of the stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Troy D. Brunk sold 7,654 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the sale, the insider directly owned 16,442 shares of the company's stock, valued at $2,551,798.40. The trade was a 31.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,635 shares of company stock valued at $8,947,010 over the last three months. Company insiders own 0.15% of the company's stock.

RTX Stock Performance

RTX stock traded down $3.55 during trading hours on Monday, reaching $153.97. 5,519,183 shares of the stock were exchanged, compared to its average volume of 5,162,587. The stock has a market cap of $206.09 billion, a P/E ratio of 33.84, a P/E/G ratio of 2.90 and a beta of 0.67. 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 $161.26. The firm's 50 day moving average is $153.69 and its 200 day moving average is $139.75.

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

RTX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 15th were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, August 15th. RTX's dividend payout ratio is 59.78%.

Analysts Set New Price Targets

Several research firms have recently weighed in on RTX. The Goldman Sachs Group raised their price target on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research note on Monday, June 23rd. Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price target for the company in a research report on Wednesday, May 14th. Citigroup lifted their price objective on shares of RTX from $148.00 to $182.00 and gave the company a "buy" rating in a report on Monday, July 14th. UBS Group boosted their price target on shares of RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Cowen reiterated a "buy" rating on shares of RTX in a report on Friday, May 23rd. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, RTX currently has an average rating of "Moderate Buy" and a consensus price target of $158.67.

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.