Envestnet Portfolio Solutions Inc. Has $8.58 Million Stock Holdings in RTX Corporation $RTX

Key Points

• Envestnet Portfolio Solutions Inc. reduced its stake in RTX Corporation by 9.6%, owning 58,780 shares valued at approximately $8.58 million after selling 6,272 shares in the second quarter.
• Wall Street analysts have a positive outlook on RTX, with buy ratings from firms like Citigroup and Bank of America, and a consensus price target of $164.13.
• Insider trading activity shows significant sales of company stock totaling $8.9 million in the last quarter, indicating confidence in the company's future performance amid growth forecasts.

Envestnet Portfolio Solutions Inc. trimmed its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 9.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,780 shares of the company's stock after selling 6,272 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in RTX were worth $8,583,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. MorganRosel Wealth Management LLC bought a new stake in RTX during the 1st quarter worth approximately $26,000. PFS Partners LLC lifted 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 buying an additional 89 shares in the last quarter. Summit Securities Group LLC acquired a new position in RTX during the 1st quarter worth $40,000. McClarren Financial Advisors Inc. acquired a new position in RTX during the 1st quarter worth $44,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in RTX during the 1st quarter worth $50,000. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RTX. Citigroup increased their price target on RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Bank of America upped their price objective on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $195.00 price objective on shares of RTX in a research report on Wednesday, October 8th. Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a report on Monday, July 21st. Finally, Susquehanna increased their target price on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, RTX has an average rating of "Moderate Buy" and a consensus price target of $164.13.

Insider Buying and Selling

In other RTX news, EVP Ramsaran Maharajh sold 1,462 shares of the business's 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 completion of the transaction, the executive vice president directly owned 13,184 shares in the company, valued at $2,007,395.84. The trade was 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 this link. Also, insider Troy D. Brunk sold 7,654 shares of the business's 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 of the company's stock, valued at approximately $2,551,798.40. This represents a 31.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,635 shares of company stock valued at $8,947,010 in the last quarter. Corporate insiders own 0.15% of the company's stock.

RTX Trading Up 0.4%

Shares of RTX stock opened at $159.45 on Wednesday. The firm has a 50 day moving average price of $159.09 and a two-hundred day moving average price of $145.39. 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 has a market capitalization of $213.43 billion, a PE ratio of 35.04, a price-to-earnings-growth ratio of 2.95 and a beta of 0.66. RTX Corporation has a 12-month low of $112.27 and a 12-month high of $170.85.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results 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. RTX had a net margin of 7.35% and a return on equity of 12.89%. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. During the same period in the previous year, the business earned $1.41 earnings per share. The firm's quarterly revenue was up 9.4% on a year-over-year basis. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

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.

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