Czech National Bank Acquires 20,585 Shares of RTX Corporation $RTX

Key Points

• The Czech National Bank increased its stake in RTX Corporation by 6.7% in the second quarter, now holding shares worth approximately $47.68 million.
• RTX reported a quarterly earnings per share of $1.56, exceeding estimates, with revenue reaching $21.58 billion, up 9.4% compared to the previous year.
• The company also declared a quarterly dividend of $0.68 per share, yielding approximately 1.7% annually.

Czech National Bank lifted its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 6.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 326,554 shares of the company's stock after buying an additional 20,585 shares during the quarter. Czech National Bank's holdings in RTX were worth $47,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of RTX. MorganRosel Wealth Management LLC purchased a new position in shares of RTX during the first quarter valued at about $26,000. 10Elms LLP purchased a new stake in RTX in the fourth quarter worth about $29,000. Summit Securities Group LLC purchased a new stake in RTX in the first quarter worth about $40,000. Mpwm Advisory Solutions LLC purchased a new stake in RTX in the fourth quarter worth about $43,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in RTX in the first quarter worth about $44,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Performance

RTX stock traded down $0.10 during midday trading on Thursday, reaching $158.21. 3,691,511 shares of the company traded hands, compared to its average volume of 5,130,204. The firm has a market capitalization of $211.77 billion, a price-to-earnings ratio of 34.77, a price-to-earnings-growth ratio of 2.92 and a beta of 0.67. The business has a 50 day moving average of $155.40 and a two-hundred day moving average of $141.16. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $161.26. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75.

RTX (NYSE:RTX - Get Free Report) last issued 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 for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.41 earnings per share. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, research analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

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 dividend of $0.68 per share. The ex-dividend date was Friday, August 15th. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. RTX's dividend payout ratio is 59.78%.

Insider Activity at RTX

In related news, EVP Ramsaran Maharajh sold 1,462 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the transaction, the executive vice president owned 13,184 shares in the company, valued at $2,007,395.84. This represents a 9.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Troy D. Brunk sold 7,654 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the transaction, the insider owned 16,442 shares in the company, valued at approximately $2,551,798.40. This trade represents a 31.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,635 shares of company stock valued at $8,947,010 over the last quarter. 0.15% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RTX shares. The Goldman Sachs Group upped their price objective on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Wall Street Zen cut shares of RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Morgan Stanley upped their price objective on shares of RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Citigroup upped their price objective on shares of RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, Bank of America upped their price objective on shares of RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $158.87.

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.