Brookmont Capital Management Reduces Holdings in RTX Corporation $RTX

Key Points

• Bropmont Capital Management decreased its holdings in RTX Corporation by 24.4%, resulting in ownership of 10,160 shares valued at approximately $1.48 million after selling 3,272 shares.
• Several hedge funds have recently adjusted their stakes in RTX, with Pure Financial Advisors LLC notably increasing its investment by 149.8% during the same period.
• The stock currently has an average rating of "Moderate Buy" from analysts, with a consensus price target of $158.87 following various ratings adjustments from major firms.

Brookmont Capital Management trimmed its stake in RTX Corporation (NYSE:RTX - Free Report) by 24.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,160 shares of the company's stock after selling 3,272 shares during the period. Brookmont Capital Management's holdings in RTX were worth $1,484,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. EWA LLC purchased a new position in shares of RTX in the 2nd quarter valued at $291,000. McGuire Investment Group LLC boosted its stake in RTX by 7.0% during the 2nd quarter. McGuire Investment Group LLC now owns 36,918 shares of the company's stock worth $5,391,000 after purchasing an additional 2,413 shares during the period. Pure Financial Advisors LLC boosted its stake in RTX by 149.8% during the 2nd quarter. Pure Financial Advisors LLC now owns 42,489 shares of the company's stock worth $6,204,000 after purchasing an additional 25,479 shares during the period. RKL Wealth Management LLC boosted its stake in RTX by 8.6% during the 2nd quarter. RKL Wealth Management LLC now owns 2,704 shares of the company's stock worth $395,000 after purchasing an additional 214 shares during the period. Finally, Consolidated Planning Corp boosted its stake in RTX by 0.3% during the 2nd quarter. Consolidated Planning Corp now owns 34,857 shares of the company's stock worth $5,090,000 after purchasing an additional 98 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on RTX shares. Morgan Stanley raised their target price on shares of RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Wall Street Zen cut shares of RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Barclays raised their target price on shares of RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. The Goldman Sachs Group raised their target price on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research note on Monday, June 23rd. Finally, UBS Group raised their price objective on shares of RTX from $166.00 to $177.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $158.87.

RTX Stock Performance

Shares of NYSE RTX opened at $167.37 on Thursday. The company has a market cap of $224.03 billion, a PE ratio of 36.78, a price-to-earnings-growth ratio of 3.08 and a beta of 0.66. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $168.28. 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 50-day simple moving average of $157.75 and a 200-day simple moving average of $143.42.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.11. The business 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 quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.41 earnings per share. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. On average, equities analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.

Insider Buying and Selling at RTX

In related news, VP Kevin G. Dasilva sold 8,704 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total value of $1,359,564.80. Following the sale, the vice president directly owned 30,004 shares of the company's stock, valued at approximately $4,686,624.80. This trade represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shane G. Eddy sold 25,968 shares of the firm's stock in a transaction that occurred 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. Over the last quarter, insiders sold 56,635 shares of company stock valued at $8,947,010. Corporate insiders own 0.15% of the company's stock.

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.

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