DAVENPORT & Co LLC Raises Stock Holdings in RTX Corporation $RTX

Key Points

• DAVENPORT & Co LLC has increased its holdings in RTX Corporation by 2.3%, bringing its total shares to 113,083, valued at approximately $16.5 million.
• Recent insider sales include Philip J. Jasper selling 12,847 shares for over $2 million, resulting in a 42.08% decrease in his position.
• Research analysts maintain a consensus rating of "Moderate Buy" for RTX, with a new average price target of $160.47, reflecting positive outlooks despite some recent downgrades.

DAVENPORT & Co LLC boosted its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 2.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 113,083 shares of the company's stock after purchasing an additional 2,562 shares during the quarter. DAVENPORT & Co LLC's holdings in RTX were worth $16,512,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new stake in shares of RTX in the first quarter worth $26,000. PFS Partners LLC grew its holdings in RTX by 101.1% during the 2nd quarter. PFS Partners LLC now owns 177 shares of the company's stock worth $26,000 after acquiring an additional 89 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of RTX in the 1st quarter worth about $40,000. McClarren Financial Advisors Inc. acquired a new position in RTX in the first quarter worth about $44,000. Finally, Financial Gravity Asset Management Inc. bought a new stake in RTX in the first quarter valued at about $50,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at RTX

In other news, insider Philip J. Jasper sold 12,847 shares of the company's stock in a transaction that occurred on 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shane G. Eddy sold 25,968 shares of the firm's stock in a transaction that occurred 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. Over the last quarter, insiders sold 56,635 shares of company stock valued at $8,947,010. 0.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Weiss Ratings reiterated a "buy (b-)" rating on shares of RTX in a research report on Saturday, September 27th. Barclays lifted their price objective on shares of RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Citigroup increased their target price on shares of RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Susquehanna raised their price target on shares of RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Finally, Wall Street Zen downgraded shares of RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Three 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $160.47.

RTX Trading Up 1.5%

Shares of NYSE:RTX opened at $169.03 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The company's 50-day moving average price is $158.44 and its 200 day moving average price is $144.27. The company has a market cap of $226.25 billion, a PE ratio of 37.15, a P/E/G ratio of 3.07 and a beta of 0.66. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $169.75.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly 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 net margin of 7.35% and a return on equity of 12.89%. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same quarter last year, the business earned $1.41 earnings per share. RTX's revenue was up 9.4% compared to the same quarter last year. 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 year.

RTX 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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