Ethic Inc. Has $7.06 Million Stock Position in RTX Corporation $RTX

Key Points

• Ethic Inc. has increased its stake in RTX Corporation by 18.4%, owning 48,788 shares worth approximately $7.06 million as of the last reporting period.
• Multiple institutional investors, including Meadow Creek Wealth Advisors and Caliber Wealth Management, have also raised their positions in RTX during the 2nd quarter, showing strong interest in the company.
• Analyst ratings for RTX show a consensus of Moderate Buy with a target price of $175.80, with several analysts setting high target prices reflecting confidence in the company's growth.

Ethic Inc. grew its position in RTX Corporation (NYSE:RTX - Free Report) by 18.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 48,788 shares of the company's stock after buying an additional 7,593 shares during the period. Ethic Inc.'s holdings in RTX were worth $7,058,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Meadow Creek Wealth Advisors LLC increased its stake in shares of RTX by 4.8% in the 2nd quarter. Meadow Creek Wealth Advisors LLC now owns 4,789 shares of the company's stock valued at $699,000 after buying an additional 221 shares during the period. Caliber Wealth Management LLC KS increased its stake in shares of RTX by 17.9% in the 2nd quarter. Caliber Wealth Management LLC KS now owns 8,246 shares of the company's stock valued at $1,204,000 after buying an additional 1,249 shares during the period. TFB Advisors LLC acquired a new stake in shares of RTX in the 2nd quarter valued at $223,000. Members Trust Co increased its stake in shares of RTX by 19.1% in the 2nd quarter. Members Trust Co now owns 4,110 shares of the company's stock valued at $600,000 after buying an additional 659 shares during the period. Finally, Family Capital Management Inc. increased its stake in shares of RTX by 101.0% in the 2nd quarter. Family Capital Management Inc. now owns 3,679 shares of the company's stock valued at $537,000 after buying an additional 1,849 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RTX has been the subject of several research reports. Morgan Stanley set a $215.00 target price on RTX and gave the company an "overweight" rating in a research note on Wednesday. Weiss Ratings reissued a "buy (b-)" rating on shares of RTX in a research note on Wednesday, October 8th. Sanford C. Bernstein raised their price target on RTX from $157.00 to $181.00 and gave the stock a "market perform" rating in a research report on Monday, October 6th. Bank of America raised their price target on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Robert W. Baird set a $203.00 price target on RTX in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $175.80.

Insiders Place Their Bets

In other news, insider Philip J. Jasper sold 12,847 shares of the business's stock in a transaction dated 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 sale, the insider directly owned 17,684 shares in the company, valued at $2,790,888.88. The trade was a 42.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Troy D. Brunk sold 7,654 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total value of $1,187,900.80. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,469 shares of company stock worth $7,364,841. Corporate insiders own 0.15% of the company's stock.

RTX Stock Performance

RTX stock opened at $177.86 on Thursday. The business's 50-day moving average price is $160.11 and its two-hundred day moving average price is $146.72. 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 firm has a market cap of $238.07 billion, a PE ratio of 36.52, a P/E/G ratio of 3.10 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 earnings results 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 firm had revenue of $22.48 billion for the quarter, compared to analyst estimates of $21.26 billion. RTX had a return on equity of 13.45% and a net margin of 7.67%.The company's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.45 earnings per share. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. As a group, research analysts forecast 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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