Cadinha & Co. LLC Grows Position in RTX Corporation $RTX

Key Points

• Cadinha & Co. LLC increased its position in RTX Corporation by an extraordinary 3,838.9% in Q2, now holding 129,276 shares valued at approximately $18.9 million.
• RTX reported strong quarterly earnings with an EPS of $1.70, exceeding estimates, and a year-over-year revenue increase of 11.9%, totaling $22.48 billion.
• Institutional investors now hold 86.50% of RTX's stock, indicating substantial confidence in the company among large financial entities.

Cadinha & Co. LLC grew its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 3,838.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 129,276 shares of the company's stock after purchasing an additional 125,994 shares during the quarter. RTX comprises approximately 3.1% of Cadinha & Co. LLC's portfolio, making the stock its 14th biggest holding. Cadinha & Co. LLC's holdings in RTX were worth $18,877,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of RTX. Vanguard Group Inc. boosted its holdings in RTX by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock worth $15,873,541,000 after buying an additional 1,357,328 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of RTX by 1.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,351,568 shares of the company's stock worth $1,371,171,000 after acquiring an additional 104,139 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of RTX by 1.5% in the first quarter. Invesco Ltd. now owns 10,312,313 shares of the company's stock worth $1,365,969,000 after acquiring an additional 154,544 shares during the period. Dimensional Fund Advisors LP grew its position in shares of RTX by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 7,713,131 shares of the company's stock valued at $1,021,623,000 after purchasing an additional 65,493 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in RTX during the 1st quarter worth about $916,739,000. Institutional investors own 86.50% of the company's stock.

RTX Trading Up 2.3%

NYSE RTX opened at $177.07 on Thursday. The stock's 50-day simple moving average is $160.11 and its two-hundred day simple moving average is $146.72. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $178.76. 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 company has a market capitalization of $237.01 billion, a price-to-earnings ratio of 36.52, a PEG ratio of 3.10 and a beta of 0.66.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.41 by $0.29. The firm had revenue of $22.48 billion for the quarter, compared to analyst estimates of $21.26 billion. RTX had a return on equity of 13.45% and a net margin of 7.67%.The company's revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.45 EPS. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. Research analysts forecast that RTX Corporation will post 6.11 EPS for the current fiscal year.

Insider Transactions 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 completion of the sale, the insider owned 16,442 shares of the company's stock, valued at approximately $2,551,798.40. This represents a 31.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shane G. Eddy sold 25,968 shares of RTX 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 ninety days, insiders sold 46,469 shares of company stock worth $7,364,841. 0.15% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Jefferies Financial Group reaffirmed a "hold" rating on shares of RTX in a report on Monday, July 21st. Barclays upped their target price on shares of RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Bank of America raised their price target on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Sanford C. Bernstein upped their price target on shares of RTX from $157.00 to $181.00 and gave the stock a "market perform" rating in a report on Monday, October 6th. Finally, JPMorgan Chase & Co. lifted their price objective on RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, RTX currently has a consensus rating of "Moderate Buy" and a consensus price target of $175.80.

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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