Ion Asset Management Ltd. Sells 4,830 Shares of RTX Corporation $RTX

Key Points

• Ion Asset Management Ltd. sold 4,830 shares of RTX Corporation, reducing its holdings by 61.3%, leaving it with 3,050 shares valued at approximately $404,000.
• Several analysts have increased their price targets for RTX, with UBS Group raising its target to $177.00 and JPMorgan Chase increasing it to $175.00, contributing to an overall consensus rating of "Moderate Buy."
• RTX recently announced a quarterly dividend of $0.68 per share, maintaining an annualized dividend yield of 1.7% and a payout ratio of 59.78%.

Ion Asset Management Ltd. reduced its stake in RTX Corporation (NYSE:RTX - Free Report) by 61.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,050 shares of the company's stock after selling 4,830 shares during the period. Ion Asset Management Ltd.'s holdings in RTX were worth $404,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Bay Capital Advisors LLC acquired a new stake in shares of RTX in the 1st quarter valued at approximately $224,000. Dynamic Advisor Solutions LLC boosted its stake in shares of RTX by 8.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock valued at $4,591,000 after purchasing an additional 2,686 shares in the last quarter. Brookwood Investment Group LLC acquired a new stake in shares of RTX in the 1st quarter valued at approximately $1,288,000. Deutsche Bank AG boosted its stake in shares of RTX by 46.0% in the 4th quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock valued at $344,075,000 after purchasing an additional 936,953 shares in the last quarter. Finally, LBP AM SA boosted its stake in shares of RTX by 17.7% in the 1st quarter. LBP AM SA now owns 279,179 shares of the company's stock valued at $36,980,000 after purchasing an additional 41,990 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Cowen reiterated a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Barclays lifted their target price on shares of RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Wall Street Zen downgraded shares of RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a research report on Monday, July 21st. Finally, Citigroup lifted their target price on shares of RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. 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 company's stock. According to data from MarketBeat, RTX has a consensus rating of "Moderate Buy" and an average target price of $158.67.

RTX Trading Down 0.6%

RTX stock traded down $1.01 during mid-day trading on Friday, hitting $157.67. 4,044,970 shares of the stock were exchanged, compared to its average volume of 3,373,661. 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 Corporation has a 12 month low of $112.27 and a 12 month high of $161.26. The firm's fifty day simple moving average is $153.69 and its two-hundred day simple moving average is $139.75. The stock has a market capitalization of $211.04 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 2.90 and a beta of 0.67.

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 firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $20.68 billion. During the same quarter last year, the business earned $1.41 EPS. The company's 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. Analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 15th were paid a $0.68 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.72 annualized dividend and a dividend yield of 1.7%. RTX's payout ratio is currently 59.78%.

Insider Buying and Selling

In other news, insider Philip J. Jasper sold 12,847 shares of RTX stock in a transaction on Monday, August 4th. The shares were sold at an average price of $157.82, for a total value of $2,027,513.54. Following the completion of the sale, the insider owned 17,684 shares in the company, valued at $2,790,888.88. The trade was a 42.08% decrease in their position. The transaction 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 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 sale, the insider owned 16,442 shares of the company's stock, valued at $2,551,798.40. This represents a 31.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,635 shares of company stock worth $8,947,010 over the last ninety days. 0.15% of the stock is owned by company insiders.

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.