Bridgeway Capital Management LLC Lowers Stock Position in RTX Corporation $RTX

Key Points

• Bridgeway Capital Management LLC reduced its stake in RTX Corporation by 9.8%, owning 143,944 shares valued at approximately $19 million after selling 15,578 shares in Q1.
• Several analysts have upgraded their price targets for RTX, with Bank of America raising it from $150 to $175 and Royal Bank Of Canada raising it from $165 to $170, maintaining an "outperform" rating.
• RTX recently declared a quarterly dividend of $0.68 per share, reflecting a 1.7% yield and a payout ratio of 59.78%.

Bridgeway Capital Management LLC cut its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 9.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 143,944 shares of the company's stock after selling 15,578 shares during the period. Bridgeway Capital Management LLC's holdings in RTX were worth $19,067,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new stake in RTX during the 1st quarter valued at $26,000. 10Elms LLP purchased a new stake in shares of RTX during the 4th quarter worth $29,000. Greenline Partners LLC purchased a new stake in shares of RTX during the 4th quarter worth $34,000. Summit Securities Group LLC bought a new stake in RTX during the first quarter valued at about $40,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in RTX in the fourth quarter valued at about $43,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on RTX. Bank of America increased their price target on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Barclays lifted their price objective on shares of RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Jefferies Financial Group reissued a "hold" rating on shares of RTX in a research report on Monday, July 21st. Royal Bank Of Canada restated an "outperform" rating and issued a $170.00 target price (up from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Finally, Sanford C. Bernstein set a $154.00 price target on RTX and gave the stock a "market perform" rating in a research report on Friday, July 11th. 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 stock. Based on data from MarketBeat.com, RTX has an average rating of "Moderate Buy" and an average target price of $158.67.

Insider Buying and Selling 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 value 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. This represents a 31.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shane G. Eddy sold 25,968 shares of the stock in a transaction on Wednesday, August 27th. The stock was 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 sold 56,635 shares of company stock worth $8,947,010. Corporate insiders own 0.15% of the company's stock.

RTX Stock Performance

Shares of RTX opened at $157.91 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The stock has a 50-day moving average of $152.78 and a two-hundred day moving average of $138.94. The stock has a market cap of $211.37 billion, a P/E ratio of 34.71, a P/E/G ratio of 2.92 and a beta of 0.67. RTX Corporation has a one year low of $112.27 and a one year high of $161.26.

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

RTX Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. RTX's dividend payout ratio (DPR) is currently 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.

Want to see what other hedge funds are holding RTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RTX Corporation (NYSE:RTX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.