Avity Investment Management Inc. Cuts Position in RTX Corporation $RTX

Key Points

• Avity Investment Management Inc. has reduced its shareholding in RTX Corporation by 5.7%, now owning 285,551 shares, which represents about 3.1% of its portfolio.
• Insider selling has occurred recently, with two executives selling a combined total of 56,635 shares worth nearly $9 million over the last ninety days.
• Brokerages have boosted price targets for RTX, with the average target now set at $158.87, reflecting strong analyst support and recent positive earnings performance.

Avity Investment Management Inc. lowered its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 5.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 285,551 shares of the company's stock after selling 17,304 shares during the quarter. RTX makes up approximately 3.1% of Avity Investment Management Inc.'s holdings, making the stock its 10th biggest holding. Avity Investment Management Inc.'s holdings in RTX were worth $41,696,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in RTX. Brighton Jones LLC increased its position in shares of RTX by 24.3% during the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock worth $1,969,000 after purchasing an additional 3,332 shares in the last quarter. Revolve Wealth Partners LLC increased its position in 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 acquiring an additional 159 shares in the last quarter. Toronto Dominion Bank increased its position in RTX by 30.7% in the 4th quarter. Toronto Dominion Bank now owns 765,605 shares of the company's stock valued at $88,595,000 after acquiring an additional 179,698 shares in the last quarter. Stonebrook Private Inc. increased its position in RTX by 7.8% in the 4th quarter. Stonebrook Private Inc. now owns 2,041 shares of the company's stock valued at $236,000 after acquiring an additional 148 shares in the last quarter. Finally, State of Wyoming increased its position in RTX by 245.2% in the 4th quarter. State of Wyoming now owns 9,235 shares of the company's stock valued at $1,069,000 after acquiring an additional 6,560 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Trading Down 0.3%

NYSE RTX traded down $0.46 during trading on Friday, reaching $157.73. 2,408,283 shares of the stock traded hands, compared to its average volume of 5,114,593. The firm has a market cap of $211.13 billion, a price-to-earnings ratio of 34.68, a price-to-earnings-growth ratio of 2.92 and a beta of 0.67. The stock's 50-day moving average price is $155.64 and its 200 day moving average price is $141.33. 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 Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $161.26.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.41 earnings per share. 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 year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were issued a dividend of $0.68 per share. The ex-dividend date was Friday, August 15th. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. RTX's payout ratio is currently 59.78%.

Insider Transactions at RTX

In other RTX news, insider Philip J. Jasper sold 12,847 shares of RTX stock in a transaction that occurred on 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 of the company's stock, valued at approximately $2,790,888.88. The trade was a 42.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Shane G. Eddy sold 25,968 shares of RTX stock in a transaction that occurred 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 90 days, insiders have sold 56,635 shares of company stock valued at $8,947,010. 0.15% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on RTX. Sanford C. Bernstein raised their target price on shares of RTX from $154.00 to $157.00 and gave the company a "market perform" rating in a research note on Wednesday, September 10th. Jefferies Financial Group reaffirmed a "hold" rating on shares of RTX in a research note on Monday, July 21st. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $170.00 target price (up previously from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Bank of America raised their target price on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Barclays raised their target price on shares of RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, RTX currently has a consensus rating of "Moderate Buy" and an average price target of $158.87.

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.