Bahl & Gaynor Inc. Has $103.66 Million Stock Holdings in RTX Corporation $RTX

Key Points

• Bahl & Gaynor Inc. has reduced its stake in RTX Corporation by 0.3% during Q1, now holding approximately $103.66 million in shares, which constitutes about 0.06% of the company.
• Several research firms have recently raised their target prices for RTX, with Citigroup increasing it to $182.00 and Morgan Stanley to $180.00, indicating strong analyst support for the stock.
• RTX Corporation announced a quarterly dividend of $0.68 per share, with a 1.7% dividend yield, set to be paid on September 4th.

Bahl & Gaynor Inc. cut its holdings in RTX Corporation (NYSE:RTX - Free Report) by 0.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 782,551 shares of the company's stock after selling 2,010 shares during the period. Bahl & Gaynor Inc. owned 0.06% of RTX worth $103,657,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC bought a new position in RTX during the first quarter valued at about $26,000. 10Elms LLP bought a new position in RTX during the fourth quarter valued at about $29,000. Greenline Partners LLC bought a new position in RTX during the fourth quarter valued at about $34,000. Summit Securities Group LLC bought a new position in RTX during the first quarter valued at about $40,000. Finally, McClarren Financial Advisors Inc. bought a new position in RTX during the first quarter valued at about $44,000. 86.50% of the stock is currently owned by institutional investors.

Insider Transactions at RTX

In other news, insider Philip J. Jasper sold 12,847 shares of the stock in a transaction dated 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 transaction, the insider directly owned 17,684 shares in the company, valued at $2,790,888.88. This represents a 42.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total transaction of $222,604.12. Following the transaction, the executive vice president owned 13,184 shares of the company's stock, valued at approximately $2,007,395.84. This represents a 9.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,589 shares of company stock worth $7,126,389. Company insiders own 0.15% of the company's stock.

RTX Price Performance

Shares of RTX traded down $0.02 on Monday, hitting $156.22. The company's stock had a trading volume of 2,430,243 shares, compared to its average volume of 4,010,900. The company has a 50 day moving average price of $151.16 and a 200 day moving average price of $137.65. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $158.79. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The company has a market capitalization of $209.11 billion, a PE ratio of 34.33, a PEG ratio of 2.88 and a beta of 0.69.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%.The firm 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 business earned $1.41 EPS. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. On average, research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RTX shares. UBS Group boosted their price target on RTX from $166.00 to $177.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. The Goldman Sachs Group lifted their price objective on RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a report on Monday, June 23rd. Cowen reaffirmed a "buy" rating on shares of RTX in a report on Friday, May 23rd. Barclays lifted their price objective on RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Finally, Citigroup lifted their price objective on RTX from $148.00 to $182.00 and gave the company a "buy" rating in a report on Monday, July 14th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, RTX currently has an average 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.