Cullen Frost Bankers Inc. Purchases 12,411 Shares of RTX Corporation $RTX

Key Points

• Cullen Frost Bankers Inc. increased its stake in RTX Corporation by 11.6%, acquiring an additional 12,411 shares, bringing its total holdings to 119,429 shares valued at approximately $17.4 million.
• Analysts have issued positive ratings for RTX, with price targets ranging from $170.00 to $195.00, reflecting strong investor confidence and a consensus rating of "Moderate Buy".
• RTX Corporation reported quarterly earnings of $1.70 per share, beating estimates, and had a revenue of $22.48 billion, a year-over-year increase of 11.9%.

Cullen Frost Bankers Inc. boosted its position in RTX Corporation (NYSE:RTX - Free Report) by 11.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 119,429 shares of the company's stock after acquiring an additional 12,411 shares during the period. Cullen Frost Bankers Inc.'s holdings in RTX were worth $17,439,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gries Financial LLC raised its stake in RTX by 0.7% in the 2nd quarter. Gries Financial LLC now owns 9,780 shares of the company's stock valued at $1,428,000 after acquiring an additional 69 shares during the period. M3 Advisory Group LLC raised its stake in RTX by 2.7% in the 2nd quarter. M3 Advisory Group LLC now owns 2,631 shares of the company's stock valued at $384,000 after acquiring an additional 69 shares during the period. TrueWealth Advisors LLC raised its stake in RTX by 3.6% in the 2nd quarter. TrueWealth Advisors LLC now owns 2,007 shares of the company's stock valued at $293,000 after acquiring an additional 70 shares during the period. RMR Wealth Builders raised its stake in RTX by 3.6% in the 2nd quarter. RMR Wealth Builders now owns 2,036 shares of the company's stock valued at $297,000 after acquiring an additional 70 shares during the period. Finally, Verum Partners LLC raised its stake in RTX by 1.8% in the 2nd quarter. Verum Partners LLC now owns 4,093 shares of the company's stock valued at $598,000 after acquiring an additional 73 shares during the period. 86.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada restated an "outperform" rating and issued a $170.00 price objective (up from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. UBS Group upped their price target on RTX from $166.00 to $177.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Citigroup upped their price target on RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $195.00 price target on shares of RTX in a research report on Wednesday, October 8th. Finally, Sanford C. Bernstein upped their price target on RTX from $157.00 to $181.00 and gave the company a "market perform" rating in a research report on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $164.13.

RTX Stock Up 7.6%

RTX stock opened at $173.00 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The company's 50 day moving average is $159.66 and its 200 day moving average is $146.50. The stock has a market cap of $231.57 billion, a price-to-earnings ratio of 38.02, a price-to-earnings-growth ratio of 2.98 and a beta of 0.66. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $178.76.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.29. The company had revenue of $22.48 billion for the quarter, compared to analysts' expectations of $21.26 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. RTX's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.45 earnings per share. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. Sell-side analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

Insider Transactions at RTX

In other RTX news, VP Kevin G. Dasilva sold 8,704 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $156.20, for a total value of $1,359,564.80. Following the completion of the sale, the vice president owned 30,004 shares of the company's stock, valued at $4,686,624.80. This represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Philip J. Jasper sold 12,847 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $157.82, for a total value of $2,027,513.54. Following the completion of the sale, the insider directly owned 17,684 shares of the company's stock, valued at approximately $2,790,888.88. This represents a 42.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,173 shares of company stock worth $8,724,406 in the last three months. Corporate insiders own 0.15% of the company's stock.

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.

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