Franklin Parlapiano Turner & Welch LLC Trims Stock Position in RTX Corporation $RTX

Key Points

• Franklin Parlapiano Turner & Welch LLC reduced its stake in RTX Corporation by 3.7%, holding 71,685 shares valued at approximately $10.47 million.
• Insider Shane G. Eddy sold 25,968 shares of RTX stock for around $4.15 million recently, contributing to a total of 56,635 shares sold by insiders in the last ninety days.
• RTX's most recent earnings report exceeded expectations with an EPS of $1.56 and revenue of $21.58 billion, reflecting a 9.4% year-over-year growth.

Franklin Parlapiano Turner & Welch LLC lessened its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 3.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,685 shares of the company's stock after selling 2,748 shares during the period. RTX comprises approximately 2.7% of Franklin Parlapiano Turner & Welch LLC's holdings, making the stock its 7th largest holding. Franklin Parlapiano Turner & Welch LLC's holdings in RTX were worth $10,467,000 at the end of the most recent quarter.

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

Insider Activity at RTX

In other RTX news, insider Shane G. Eddy sold 25,968 shares of the firm's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $159.79, for a total value of $4,149,426.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Kevin G. Dasilva sold 8,704 shares of RTX stock in a transaction on 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 sale, the vice president owned 30,004 shares of the company's stock, valued at $4,686,624.80. The trade was a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,635 shares of company stock worth $8,947,010 over the last ninety days. Corporate insiders own 0.15% of the company's stock.

RTX Trading Down 2.8%

Shares of NYSE RTX opened at $157.64 on Friday. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $170.85. The business has a fifty day moving average price of $159.00 and a 200 day moving average price of $145.03. The stock has a market capitalization of $211.01 billion, a P/E ratio of 34.65, a price-to-earnings-growth ratio of 2.91 and a beta of 0.66. 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 released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping 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 business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same period in the previous year, the company earned $1.41 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Equities research analysts expect that RTX Corporation will post 6.11 EPS for the current fiscal year.

Analyst Ratings Changes

RTX has been the topic of a number of research reports. Barclays raised 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 lifted their target price on shares of RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $195.00 target price on shares of RTX in a research report on Wednesday. The Goldman Sachs Group boosted their price target on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Finally, Wall Street Zen lowered shares of RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $164.13.

About RTX

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.