Gotham Asset Management LLC Buys 19,954 Shares of RTX Corporation $RTX

Key Points

• Gotham Asset Management LLC increased its holdings in RTX Corporation by 29.8% in the first quarter, acquiring an additional 19,954 shares, bringing its total to 86,999 shares valued at approximately $11.5 million.
• Several research analysts have upgraded their ratings for RTX, with Citigroup raising its price target from $148.00 to $182.00, and a consensus rating of "Moderate Buy" with an average price target of $158.67.
• RTX recently reported strong quarterly earnings, with EPS of $1.56 surpassing estimates, and announced a quarterly dividend of $0.68, equating to an annual yield of 1.7%.

Gotham Asset Management LLC lifted its position in RTX Corporation (NYSE:RTX - Free Report) by 29.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,999 shares of the company's stock after buying an additional 19,954 shares during the period. Gotham Asset Management LLC's holdings in RTX were worth $11,524,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Brighton Jones LLC boosted its stake in RTX by 24.3% in the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock worth $1,969,000 after purchasing an additional 3,332 shares during the period. Revolve Wealth Partners LLC boosted its stake in RTX by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock worth $564,000 after purchasing an additional 159 shares during the period. Clark Capital Management Group Inc. boosted its stake in RTX by 2.7% in the 4th quarter. Clark Capital Management Group Inc. now owns 10,599 shares of the company's stock worth $1,226,000 after purchasing an additional 281 shares during the period. Ethic Inc. boosted its stake in RTX by 191.5% in the 4th quarter. Ethic Inc. now owns 34,773 shares of the company's stock worth $4,024,000 after purchasing an additional 22,846 shares during the period. Finally, Full Sail Capital LLC boosted its stake in shares of RTX by 1.1% during the 4th quarter. Full Sail Capital LLC now owns 7,721 shares of the company's stock worth $893,000 after buying an additional 86 shares during the last quarter. Institutional investors own 86.50% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on RTX shares. JPMorgan Chase & Co. raised their target price on shares of RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Wall Street Zen cut RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 price target for the company in a report on Wednesday, May 14th. Morgan Stanley lifted their price target on RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $170.00 price target (up previously from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $158.67.

Insiders Place Their Bets

In related news, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total value of $222,604.12. Following the transaction, the executive vice president directly owned 13,184 shares of the company's stock, valued at $2,007,395.84. This trade represents a 9.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Troy D. Brunk sold 7,654 shares of RTX 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 completion of the transaction, the insider directly owned 16,442 shares in the company, valued at $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. Insiders sold a total of 56,635 shares of company stock valued at $8,947,010 over the last three months. 0.15% of the stock is owned by corporate insiders.

RTX Stock Performance

Shares of RTX traded down $2.38 during mid-day trading on Tuesday, hitting $151.84. 5,459,307 shares of the company's stock were exchanged, compared to its average volume of 3,471,159. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $161.26. The stock's 50-day simple moving average is $153.99 and its 200-day simple moving average is $140.05. The firm has a market cap of $203.24 billion, a price-to-earnings ratio of 33.37, a price-to-earnings-growth ratio of 2.84 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 (NYSE:RTX - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $1.41 earnings per share. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. On average, equities research analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, August 15th. RTX's dividend payout ratio (DPR) is 59.78%.

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.