RTX Corporation $RTX Position Lowered by Comerica Bank

Key Points

• Comerica Bank reduced its position in RTX Corporation by 1.3%, owning approximately 737,875 shares valued at $97.74 million after selling 9,903 shares in the first quarter.
• Several institutional investors increased their stakes in RTX, with Southeast Asset Advisors LLC boosting its stake by 80.4%, and Jump Financial LLC increasing theirs by 239.4% during the same period.
• RTX reported a quarterly earnings per share of $1.56, surpassing analyst estimates, with a year-over-year revenue growth of 9.4%.

Comerica Bank lowered its stake in RTX Corporation (NYSE:RTX - Free Report) by 1.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 737,875 shares of the company's stock after selling 9,903 shares during the quarter. Comerica Bank owned approximately 0.06% of RTX worth $97,739,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of RTX. Nuveen LLC acquired a new position in RTX in the 1st quarter valued at $916,739,000. GAMMA Investing LLC raised its holdings in RTX by 14,838.5% in the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock valued at $551,460,000 after acquiring an additional 4,135,349 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in RTX by 28.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company's stock valued at $845,784,000 after acquiring an additional 1,394,918 shares during the last quarter. Vanguard Group Inc. raised 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 valued at $15,873,541,000 after acquiring an additional 1,357,328 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new position in RTX in the 4th quarter valued at $138,585,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Up 0.3%

NYSE RTX traded up $0.41 during trading hours on Wednesday, hitting $159.98. The company had a trading volume of 2,991,223 shares, compared to its average volume of 3,969,021. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $160.21. The company has a market capitalization of $214.14 billion, a price-to-earnings ratio of 35.16, a P/E/G ratio of 2.94 and a beta of 0.69. 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 firm's 50 day moving average is $151.66 and its 200 day moving average is $137.96.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. The company had revenue of $21.58 billion during 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 firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.41 EPS. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Sell-side analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. RTX's payout ratio is currently 59.78%.

Insider Buying and Selling

In other RTX news, insider Philip J. Jasper sold 12,847 shares of the company'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 completion of the transaction, the insider directly owned 17,684 shares of the company's stock, valued at $2,790,888.88. This represents a 42.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,589 shares of company stock worth $7,126,389 over the last quarter. Company insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on RTX shares. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 price target for the company in a report on Wednesday, May 14th. Barclays increased their target price on RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Sanford C. Bernstein set a $154.00 target price on RTX and gave the stock a "market perform" rating in a research report on Friday, July 11th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $170.00 target price (up from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of RTX in a research report on Monday, July 21st. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, RTX currently has a consensus rating of "Moderate Buy" and a consensus target price of $158.67.

About RTX

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.