Beacon Investment Advisory Services Inc. Sells 11,827 Shares of RTX Corporation $RTX

Key Points

• Beacon Investment Advisory Services Inc. reduced its stake in RTX Corporation by 13.3%, selling 11,827 shares, and now holds a total of 77,137 shares valued at approximately $11.26 million.
• Several analysts have upgraded their price targets for RTX, with Morgan Stanley increasing it from $165 to $180, indicating a strong interest in the stock.
• RTX recently declared a quarterly dividend of $0.68 per share, contributing to an annualized dividend yield of 1.7% and a payout ratio of 59.78%.

Beacon Investment Advisory Services Inc. lessened its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 13.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,137 shares of the company's stock after selling 11,827 shares during the period. Beacon Investment Advisory Services Inc.'s holdings in RTX were worth $11,264,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Gries Financial LLC boosted its stake in shares of RTX by 0.7% in the second quarter. Gries Financial LLC now owns 9,780 shares of the company's stock valued at $1,428,000 after buying an additional 69 shares during the period. TrueWealth Advisors LLC boosted its stake in shares of RTX by 3.6% in the second quarter. TrueWealth Advisors LLC now owns 2,007 shares of the company's stock valued at $293,000 after buying an additional 70 shares during the period. RMR Wealth Builders boosted its stake in shares of RTX by 3.6% in the second quarter. RMR Wealth Builders now owns 2,036 shares of the company's stock valued at $297,000 after buying an additional 70 shares during the period. Verum Partners LLC boosted its stake in shares of RTX by 1.8% in the second quarter. Verum Partners LLC now owns 4,093 shares of the company's stock valued at $598,000 after buying an additional 73 shares during the period. Finally, Hamilton Capital LLC boosted its stake in shares of RTX by 3.6% in the first quarter. Hamilton Capital LLC now owns 2,122 shares of the company's stock valued at $281,000 after buying an additional 74 shares during the period. Institutional investors own 86.50% of the company's stock.

Analyst Upgrades and Downgrades

RTX has been the subject of several recent research reports. Royal Bank Of Canada reiterated an "outperform" rating and issued a $170.00 price target (up from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Morgan Stanley boosted their price objective on shares of RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Barclays boosted their price objective on shares of RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Sanford C. Bernstein boosted their price objective on shares of RTX from $154.00 to $157.00 and gave the company a "market perform" rating in a research report on Wednesday, September 10th. Finally, Susquehanna boosted their price objective on shares of RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $158.87.

Insider Activity at RTX

In other news, insider Troy D. Brunk sold 7,654 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the completion of the transaction, the insider directly owned 16,442 shares in the company, valued at approximately $2,551,798.40. This represents a 31.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of the company's stock in a transaction 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. This trade represents a 9.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,635 shares of company stock valued at $8,947,010. 0.15% of the stock is owned by company insiders.

RTX Stock Up 0.7%

Shares of NYSE:RTX opened at $161.59 on Thursday. The company has a fifty day moving average of $156.52 and a 200-day moving average of $142.18. The company has a market capitalization of $216.30 billion, a PE ratio of 35.51, a price-to-earnings-growth ratio of 2.96 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 $163.03.

RTX (NYSE:RTX - Get Free Report) last announced 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 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%. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 earnings per share. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. On average, equities analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders 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 annualized dividend and a dividend yield of 1.7%. RTX's dividend payout ratio is 59.78%.

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.

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