Greenleaf Trust Sells 17,743 Shares of RTX Corporation $RTX

Key Points

• Greenleaf Trust reduced its holdings in RTX Corporation by 20.3%, selling 17,743 shares and now owns 69,601 shares worth approximately $10.16 million.
• Institutional investors, including Brighton Jones LLC and NBC Securities Inc., have recently adjusted their positions in RTX, contributing to a total of 86.50% ownership of the company's stock.
• Recent earnings report showed RTX exceeding estimates with a net income growth of 9.4% year-over-year, reporting $21.58 billion in revenue and $1.56 EPS for the quarter.

Greenleaf Trust trimmed its position in RTX Corporation (NYSE:RTX - Free Report) by 20.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,601 shares of the company's stock after selling 17,743 shares during the quarter. Greenleaf Trust's holdings in RTX were worth $10,163,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RTX. Brighton Jones LLC grew its holdings in RTX by 24.3% during the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock worth $1,969,000 after acquiring an additional 3,332 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of RTX by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock valued at $564,000 after purchasing an additional 159 shares in the last quarter. Enterprise Bank & Trust Co lifted its position in shares of RTX by 157.9% in the 1st quarter. Enterprise Bank & Trust Co now owns 9,229 shares of the company's stock worth $1,222,000 after purchasing an additional 5,650 shares during the period. NBC Securities Inc. boosted its stake in shares of RTX by 159,475.0% during the first quarter. NBC Securities Inc. now owns 12,766 shares of the company's stock valued at $1,690,000 after purchasing an additional 12,758 shares in the last quarter. Finally, Strong Tower Advisory Services boosted its stake in shares of RTX by 14.0% during the first quarter. Strong Tower Advisory Services now owns 24,130 shares of the company's stock valued at $3,196,000 after purchasing an additional 2,957 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on RTX shares. Royal Bank Of Canada reissued an "outperform" rating and issued a $170.00 price objective (up previously from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Susquehanna boosted their price target on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Morgan Stanley upped their price objective on RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Sanford C. Bernstein raised their price objective on RTX from $154.00 to $157.00 and gave the company a "market perform" rating in a research report on Wednesday, September 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, RTX presently has an average rating of "Moderate Buy" and an average price target of $158.87.

Insiders Place Their Bets

In other RTX news, EVP Ramsaran Maharajh sold 1,462 shares of the firm's 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 transaction, the executive vice president owned 13,184 shares in the company, valued at approximately $2,007,395.84. This trade represents a 9.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Troy D. Brunk sold 7,654 shares of RTX stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the sale, the insider directly owned 16,442 shares in the company, valued at approximately $2,551,798.40. This trade represents a 31.76% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,635 shares of company stock valued at $8,947,010. 0.15% of the stock is owned by corporate insiders.

RTX Stock Performance

NYSE:RTX opened at $163.74 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The stock has a market capitalization of $219.17 billion, a PE ratio of 35.99, a P/E/G ratio of 3.01 and a beta of 0.67. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $168.28. The company has a fifty day moving average of $157.17 and a two-hundred day moving average of $143.08.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.11. The business had revenue of $21.58 billion during 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 company's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.41 earnings per share. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal 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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