Clough Capital Partners L P Decreases Position in RTX Corporation $RTX

Key Points

• Clough Capital Partners L P reduced its stake in RTX Corporation by 14.2%, selling 11,370 shares, and now holds 68,687 shares worth approximately $9,098,000.
• RTX has received positive analyst ratings, with Bank of America increasing its price target from $150 to $175 and several institutions maintaining or upgrading their buy ratings.
• The company announced a quarterly dividend of $0.68, representing an annual yield of 1.7%, scheduled for payout on September 4th, with an ex-dividend date of August 15th.

Clough Capital Partners L P trimmed its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 14.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,687 shares of the company's stock after selling 11,370 shares during the period. Clough Capital Partners L P's holdings in RTX were worth $9,098,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MorganRosel Wealth Management LLC acquired a new stake in shares of RTX in the 1st quarter valued at $26,000. 10Elms LLP acquired a new stake in shares of RTX in the 4th quarter valued at $29,000. Greenline Partners LLC acquired a new stake in shares of RTX in the 4th quarter valued at $34,000. Summit Securities Group LLC acquired a new stake in shares of RTX in the 1st quarter valued at $40,000. Finally, McClarren Financial Advisors Inc. bought a new position in shares of RTX in the 1st quarter worth $44,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Philip J. Jasper sold 12,847 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $157.82, for a total value of $2,027,513.54. Following the transaction, the insider owned 17,684 shares of the company's stock, valued at approximately $2,790,888.88. This trade represents a 42.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Troy D. Brunk sold 7,654 shares of RTX stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the transaction, the insider directly owned 16,442 shares in the company, valued at approximately $2,551,798.40. This represents a 31.76% decrease in their position. 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. 0.15% of the stock is owned by insiders.

RTX Stock Down 0.4%

Shares of NYSE:RTX traded down $0.69 during midday trading on Tuesday, reaching $157.91. The company had a trading volume of 3,184,322 shares, compared to its average volume of 5,192,990. The business's 50 day moving average price is $152.45 and its 200 day moving average price is $138.81. The stock has a market cap of $211.37 billion, a PE ratio of 34.71, a P/E/G ratio of 2.92 and a beta of 0.67. 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 Corporation has a 1-year low of $112.27 and a 1-year high of $161.26.

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

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, August 15th. RTX's dividend payout ratio is presently 59.78%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on RTX shares. Bank of America raised their price target on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Barclays raised their price target on RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Citigroup raised their price target on RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. The Goldman Sachs Group raised their price target on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research report on Monday, June 23rd. Finally, Susquehanna raised their price target on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.67.

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.