Baird Financial Group Inc. Purchases 25,845 Shares of RTX Corporation $RTX

Key Points

• Baird Financial Group Inc. increased its stake in RTX Corporation by 3.5%, owning approximately $101.69 million worth of shares after acquiring an additional 25,845 shares in the first quarter.
• Insiders have been selling shares of RTX, with notable sales including EVP Ramsaran Maharajh and insider Philip J. Jasper selling a combined total of 73,557 shares valued at over $11 million in the last three months.
• RTX's recent quarterly earnings show a profit of $1.56 EPS, surpassing expectations, while the company has announced a quarterly dividend of $0.68, representing a yield of 1.7%.

Baird Financial Group Inc. grew its holdings in RTX Corporation (NYSE:RTX - Free Report) by 3.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 767,675 shares of the company's stock after acquiring an additional 25,845 shares during the quarter. Baird Financial Group Inc. owned 0.06% of RTX worth $101,686,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Apexium Financial LP raised its holdings in RTX by 2.2% during the 1st quarter. Apexium Financial LP now owns 3,629 shares of the company's stock worth $481,000 after buying an additional 78 shares during the period. Guardian Wealth Advisors LLC NC increased its position in shares of RTX by 1.7% during the fourth quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock worth $576,000 after acquiring an additional 82 shares in the last quarter. Foster Victor Wealth Advisors LLC raised its holdings in shares of RTX by 2.1% during the first quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock worth $505,000 after acquiring an additional 82 shares during the period. Weatherly Asset Management L. P. lifted its position in RTX by 0.4% in the 1st quarter. Weatherly Asset Management L. P. now owns 20,888 shares of the company's stock valued at $2,767,000 after acquiring an additional 82 shares in the last quarter. Finally, CLG LLC boosted its stake in RTX by 2.3% in the 1st quarter. CLG LLC now owns 3,686 shares of the company's stock worth $488,000 after purchasing an additional 83 shares during the period. Institutional investors own 86.50% of the company's stock.

Insiders Place Their Bets

In other RTX news, EVP Ramsaran Maharajh sold 1,462 shares of the business's stock in a transaction that occurred on 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 $2,007,395.84. The trade was a 9.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shane G. Eddy sold 25,968 shares of the firm's 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 disclosure for this sale can be found here. Insiders sold a total of 56,635 shares of company stock worth $8,947,010 in the last three months. Insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on RTX. Wall Street Zen cut RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a report on Wednesday, May 14th. Morgan Stanley boosted their target price on RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. UBS Group upped their price target on RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a report on Monday, July 21st. Three research 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $158.67.

RTX Stock Down 0.4%

Shares of NYSE RTX traded down $0.69 during trading hours on Tuesday, hitting $157.91. The company had a trading volume of 3,259,056 shares, compared to its average volume of 5,193,481. RTX Corporation has a 1-year low of $112.27 and a 1-year 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 firm's 50 day moving average is $152.45 and its 200-day moving average is $138.81. The stock has a market capitalization of $211.37 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 posted its quarterly earnings results 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. The firm 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 company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.41 earnings per share. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. On average, analysts expect that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors 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 is Friday, August 15th. RTX's dividend payout ratio (DPR) is 59.78%.

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.