Fifth Third Bancorp Reduces Holdings in RTX Corporation $RTX

Key Points

• Fifth Third Bancorp reduced its holdings in RTX Corporation by 2.1% in the second quarter, selling 11,098 shares and retaining 517,071 shares valued at approximately $75.5 million.
• Several hedge funds, including Gries Financial LLC and TrueWealth Advisors LLC, have also adjusted their positions in RTX, contributing to institutional investors owning 86.50% of the stock.
• RTX recently declared a quarterly dividend of $0.68 per share, yielding 1.7% annually, while reporting strong earnings with a 9.4% revenue increase compared to the same quarter last year.

Fifth Third Bancorp reduced its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 2.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 517,071 shares of the company's stock after selling 11,098 shares during the quarter. Fifth Third Bancorp's holdings in RTX were worth $75,503,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Gries Financial LLC increased its holdings in RTX by 0.7% during 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 in the last quarter. TrueWealth Advisors LLC raised its holdings in shares of RTX by 3.6% in the second quarter. TrueWealth Advisors LLC now owns 2,007 shares of the company's stock worth $293,000 after acquiring an additional 70 shares during the last quarter. RMR Wealth Builders raised its holdings in shares of RTX by 3.6% in the second quarter. RMR Wealth Builders now owns 2,036 shares of the company's stock worth $297,000 after acquiring an additional 70 shares during the last quarter. Hamilton Capital LLC raised its holdings in shares of RTX by 3.6% in the first quarter. Hamilton Capital LLC now owns 2,122 shares of the company's stock worth $281,000 after acquiring an additional 74 shares during the last quarter. Finally, Persium Advisors LLC raised its holdings in shares of RTX by 1.6% in the second quarter. Persium Advisors LLC now owns 4,935 shares of the company's stock worth $721,000 after acquiring an additional 76 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other RTX news, VP Kevin G. Dasilva sold 8,704 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $156.20, for a total transaction 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 approximately $4,686,624.80. The trade was a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Philip J. Jasper sold 12,847 shares of the business's stock in a transaction dated 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 sale, the insider directly owned 17,684 shares of the company's stock, valued at approximately $2,790,888.88. This trade represents a 42.08% 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 in the last 90 days. 0.15% of the stock is owned by corporate insiders.

RTX Price Performance

Shares of NYSE:RTX opened at $160.32 on Wednesday. The company has a market cap of $214.59 billion, a P/E ratio of 35.23, a P/E/G ratio of 2.94 and a beta of 0.67. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $161.40. The business has a fifty day simple moving average of $156.30 and a 200-day simple moving average of $142.05.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%.The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. During the same quarter in the previous year, the business earned $1.41 earnings per share. The firm's quarterly 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. Equities research analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 15th were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 15th. RTX's payout ratio is 59.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Sanford C. Bernstein boosted their price target on RTX from $154.00 to $157.00 and gave the stock a "market perform" rating in a report on Wednesday, September 10th. Wall Street Zen cut RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Susquehanna boosted their price target on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. UBS Group boosted their price target on RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Barclays boosted their price target on RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. 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 data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.

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