Intech Investment Management LLC Lowers Stock Holdings in RTX Corporation $RTX

Key Points

• Intech Investment Management LLC reduced its holdings in RTX Corporation by 7.9%, selling 4,165 shares, leaving them with 48,512 shares valued at approximately $6.43 million.
• RTX reported better-than-expected quarterly earnings with a net margin of 7.35% and revenue of $21.58 billion, surpassing analysts’ expectations of $20.68 billion.
• Several hedge funds adjusted their stakes in RTX, with Vanguard Group Inc. increasing their holdings by 1.1% during the first quarter, now owning nearly 120 million shares valued at about $15.87 billion.

Intech Investment Management LLC cut its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 7.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,512 shares of the company's stock after selling 4,165 shares during the quarter. Intech Investment Management LLC's holdings in RTX were worth $6,426,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in RTX. Vanguard Group Inc. grew its holdings in RTX by 1.1% during 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 in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in RTX by 1.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,351,568 shares of the company's stock worth $1,371,171,000 after purchasing an additional 104,139 shares in the last quarter. Invesco Ltd. raised its holdings in RTX by 1.5% during the first quarter. Invesco Ltd. now owns 10,312,313 shares of the company's stock worth $1,365,969,000 after purchasing an additional 154,544 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in RTX by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,713,131 shares of the company's stock worth $1,021,623,000 after acquiring an additional 65,493 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in RTX during the 1st quarter worth $916,739,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Performance

RTX opened at $157.79 on Friday. The stock has a market cap of $211.21 billion, a P/E ratio of 34.68, a P/E/G ratio of 2.86 and a beta of 0.67. 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 stock's 50 day simple moving average is $154.44 and its 200 day simple moving average is $140.38. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $161.26.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data 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 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 period in the previous year, the firm posted $1.41 EPS. The company'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. As a group, equities analysts anticipate that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The firm 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

RTX has been the topic of several research analyst reports. Cowen reiterated a "buy" rating on shares of RTX in a research note on Friday, May 23rd. Jefferies Financial Group reissued a "hold" rating on shares of RTX in a report on Monday, July 21st. Susquehanna increased their price objective on RTX from $160.00 to $175.00 and gave the company a "positive" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. increased their price objective on RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, UBS Group increased their price objective on RTX from $166.00 to $177.00 and gave the company a "buy" 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 given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $158.87.

Insider Buying and Selling

In related news, insider Shane G. Eddy sold 25,968 shares of the firm's stock in a transaction that occurred 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 filing with the SEC, which is accessible through the SEC website. Also, insider Troy D. Brunk sold 7,654 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total value of $1,187,900.80. Following the completion of 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. Insiders have sold 56,635 shares of company stock valued at $8,947,010 over the last three months. Company insiders own 0.15% of the company's stock.

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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