LeConte Wealth Management LLC Acquires Shares of 1,642 RTX Corporation $RTX

Key Points

• LeConte Wealth Management LLC acquired 1,642 shares of RTX Corporation valued at approximately $240,000 during the second quarter.
• Several analysts have recently increased their price targets for RTX, with Morgan Stanley raising it from $165.00 to $180.00, indicating a positive outlook for the stock.
• RTX announced a quarterly dividend of $0.68, representing an annual yield of 1.7%, with a payout ratio of 59.78%.

LeConte Wealth Management LLC bought a new stake in RTX Corporation (NYSE:RTX - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 1,642 shares of the company's stock, valued at approximately $240,000.

Other hedge funds have also recently modified their holdings of the company. Bay Capital Advisors LLC purchased a new position in shares of RTX in the 1st quarter valued at $224,000. Dynamic Advisor Solutions LLC grew its position 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 buying an additional 2,686 shares during the last quarter. Brookwood Investment Group LLC purchased a new position in shares of RTX in the 1st quarter valued at $1,288,000. LBP AM SA grew its position 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 buying an additional 41,990 shares during the last quarter. Finally, Arizona State Retirement System grew its position in shares of RTX by 1.4% in the 1st quarter. Arizona State Retirement System now owns 390,617 shares of the company's stock valued at $51,741,000 after buying an additional 5,356 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RTX has been the topic of several research reports. Morgan Stanley raised their price objective on shares of RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Susquehanna raised their price objective on shares of RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $170.00 price objective (up from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Barclays raised their price objective 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. Finally, The Goldman Sachs Group raised their price objective on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research report on Monday, June 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $158.87.

RTX Trading Up 0.7%

NYSE RTX opened at $161.59 on Thursday. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $216.30 billion, a P/E ratio of 35.51, a P/E/G ratio of 2.96 and a beta of 0.67. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $163.03. The firm has a 50-day moving average price of $156.52 and a 200 day moving average price of $142.18.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%.The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.41 EPS. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Equities research analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently disclosed 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 was Friday, August 15th. This represents a $2.72 annualized dividend and a yield of 1.7%. RTX's dividend payout ratio is presently 59.78%.

Insider Buying and Selling

In related news, insider Shane G. Eddy sold 25,968 shares of the firm's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $159.79, for a total value of $4,149,426.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total transaction of $222,604.12. Following the transaction, the executive vice president owned 13,184 shares in the company, valued at $2,007,395.84. The trade was a 9.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,635 shares of company stock valued at $8,947,010 in the last quarter. Corporate insiders own 0.15% of the company's stock.

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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