Gradient Investments LLC Decreases Stake in RTX Corporation $RTX

Key Points

• Gradient Investments LLC has reduced its stake in RTX Corporation by 2.1%, owning 109,162 shares valued at approximately $15.94 million after selling 2,333 shares in the second quarter.
• Institutional investors collectively own 86.50% of RTX stock, with notable increases from firms like Nuveen LLC and GAMMA Investing LLC, significantly boosting their holdings during the first quarter.
• RTX recently announced a quarterly dividend of $0.68 per share, contributing to an annualized dividend yield of 1.7%, with a current dividend payout ratio of 59.78%.

Gradient Investments LLC lowered its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 2.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 109,162 shares of the company's stock after selling 2,333 shares during the quarter. Gradient Investments LLC's holdings in RTX were worth $15,940,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of RTX. Nuveen LLC purchased a new stake in shares of RTX during the 1st quarter worth about $916,739,000. GAMMA Investing LLC boosted its holdings in RTX by 14,838.5% in the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock worth $551,460,000 after acquiring an additional 4,135,349 shares during the period. Goldman Sachs Group Inc. boosted its holdings in RTX by 28.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company's stock worth $845,784,000 after acquiring an additional 1,394,918 shares during the period. Vanguard Group Inc. boosted its holdings in RTX by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock worth $15,873,541,000 after acquiring an additional 1,357,328 shares during the period. Finally, 1832 Asset Management L.P. boosted its holdings in RTX by 1,178.2% in the 1st quarter. 1832 Asset Management L.P. now owns 1,212,353 shares of the company's stock worth $160,588,000 after acquiring an additional 1,117,506 shares during the period. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insider Transactions at RTX

In other RTX news, insider Shane G. Eddy sold 25,968 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $159.79, for a total value of $4,149,426.72. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Ramsaran Maharajh sold 1,462 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total value of $222,604.12. Following the completion of the transaction, the executive vice president directly owned 13,184 shares of the company's stock, valued at approximately $2,007,395.84. The trade was a 9.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,635 shares of company stock valued at $8,947,010 over the last three months. 0.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on RTX shares. JPMorgan Chase & Co. upped their price target on RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Morgan Stanley upped their target price on RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Susquehanna upped their target price on RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Sanford C. Bernstein upped their target price on RTX from $154.00 to $157.00 and gave the company a "market perform" rating in a research report on Wednesday. Finally, Wall Street Zen lowered RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $158.87.

RTX Price Performance

Shares of NYSE RTX opened at $155.90 on Monday. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $161.26. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The business's fifty day moving average price is $154.64 and its two-hundred day moving average price is $140.74. The firm has a market capitalization of $208.68 billion, a PE ratio of 34.26, a P/E/G ratio of 2.87 and a beta of 0.67.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $20.68 billion. During the same period last year, the company earned $1.41 earnings per share. The firm'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. On average, research analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 15th were given a $0.68 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.72 annualized dividend and a yield of 1.7%. RTX's dividend payout ratio (DPR) is currently 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.

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