City Center Advisors LLC Purchases New Holdings in RTX Corporation $RTX

Key Points

• City Center Advisors LLC acquired a new position in RTX Corporation during the second quarter, purchasing 2,371 shares valued at approximately $346,000.
• Several major hedge funds, including Vanguard Group Inc. and Charles Schwab Investment Management Inc., have also increased their stakes in RTX, indicating strong institutional interest in the stock.
• RTX recently reported earnings of $1.56 per share, exceeding expectations, and announced a quarterly dividend of $0.68, reflecting a 1.7% yield.

City Center Advisors LLC purchased a new stake in RTX Corporation (NYSE:RTX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,371 shares of the company's stock, valued at approximately $346,000.

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

Insiders Place Their Bets

In related news, EVP Ramsaran Maharajh sold 1,462 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total value of $222,604.12. Following the sale, the executive vice president directly owned 13,184 shares of the company's stock, valued at approximately $2,007,395.84. The trade was a 9.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Shane G. Eddy sold 25,968 shares of RTX 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 disclosure for this sale can be found here. Insiders sold a total of 56,635 shares of company stock worth $8,947,010 in the last ninety days. 0.15% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on RTX. Morgan Stanley raised their price objective on shares of RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Barclays raised their price objective on shares of RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Jefferies Financial Group reaffirmed a "hold" rating on shares of RTX in a research note on Monday, July 21st. 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. Finally, Susquehanna raised their price objective on shares of RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research note 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 assigned a Hold rating to the stock. According to MarketBeat.com, RTX presently has a consensus rating of "Moderate Buy" and an average price target of $158.87.

RTX Trading Down 1.1%

Shares of NYSE RTX opened at $155.90 on Friday. The company's fifty day moving average is $154.64 and its 200-day moving average is $140.58. The stock has a market cap of $208.68 billion, a price-to-earnings ratio of 34.26, a P/E/G ratio of 2.91 and a beta of 0.67. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $161.26. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60.

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

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 15th. RTX's payout ratio 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.

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