Carnegie Investment Counsel Sells 7,092 Shares of RTX Corporation $RTX

Key Points

• Carnegie Investment Counsel has reduced its stake in RTX Corporation by 3.0%, selling 7,092 shares, leaving it with 229,048 shares valued at approximately $33.4 million.
• RTX reported earnings of $1.70 per share for the last quarter, exceeding analysts' expectations, with revenues reaching $22.48 billion, an increase of 11.9% year-over-year.
• Insiders have sold a total of 46,469 shares of RTX stock worth $7.36 million in the last quarter, indicating significant insider trading activity.

Carnegie Investment Counsel cut its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 229,048 shares of the company's stock after selling 7,092 shares during the quarter. Carnegie Investment Counsel's holdings in RTX were worth $33,446,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new stake in shares of RTX during the 1st quarter valued at approximately $26,000. PFS Partners LLC grew its holdings in RTX by 101.1% during the 2nd quarter. PFS Partners LLC now owns 177 shares of the company's stock worth $26,000 after acquiring an additional 89 shares during the last quarter. Summit Securities Group LLC bought a new stake in RTX during the 1st quarter worth approximately $40,000. McClarren Financial Advisors Inc. bought a new stake in RTX during the 1st quarter worth approximately $44,000. Finally, Briaud Financial Planning Inc grew its holdings in RTX by 25.4% during the 2nd quarter. Briaud Financial Planning Inc now owns 321 shares of the company's stock worth $46,000 after acquiring an additional 65 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

RTX Stock Up 0.8%

Shares of NYSE RTX opened at $179.33 on Friday. The company has a market capitalization of $240.45 billion, a P/E ratio of 36.82, a price-to-earnings-growth ratio of 3.23 and a beta of 0.66. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $179.98. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.75 and a current ratio of 1.07. The company's 50 day moving average price is $160.59 and its 200-day moving average price is $147.14.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.29. The firm had revenue of $22.48 billion for the quarter, compared to the consensus estimate of $21.26 billion. RTX had a net margin of 7.67% and a return on equity of 13.28%. The company's revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.45 EPS. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. Equities analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

Insider Activity at RTX

In related news, insider Shane G. Eddy sold 25,968 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $159.79, for a total transaction of $4,149,426.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Philip J. Jasper sold 12,847 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the transaction, the insider owned 17,684 shares in the company, valued at $2,790,888.88. The trade was a 42.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,469 shares of company stock worth $7,364,841 in the last quarter. Company insiders own 0.15% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on RTX. Weiss Ratings reissued a "buy (b-)" rating on shares of RTX in a report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Bank of America boosted their target price on shares of RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Robert W. Baird set a $203.00 target price on shares of RTX in a report on Wednesday. Finally, Susquehanna boosted their target price on shares of RTX from $175.00 to $205.00 and gave the stock a "positive" rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average 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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