Legacy Trust Cuts Position in RTX Corporation $RTX

Key Points

• Legacy Trust reduced its stake in RTX Corporation by 5.4%, now holding 52,419 shares valued at approximately $7.65 million, making it the 19th largest position in their portfolio.
• Insiders sold a total of 56,635 shares of RTX stock over the last quarter, with significant transactions from Shane G. Eddy and Ramsaran Maharajh, decreasing their ownership amounts.
• Several research firms have upgraded their ratings and target prices for RTX, with analysts giving it a consensus rating of "Moderate Buy" and a target price of $158.87.

Legacy Trust cut its stake in RTX Corporation (NYSE:RTX - Free Report) by 5.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,419 shares of the company's stock after selling 3,010 shares during the period. RTX comprises approximately 1.9% of Legacy Trust's portfolio, making the stock its 19th largest position. Legacy Trust's holdings in RTX were worth $7,654,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new stake in RTX during the first quarter valued at about $26,000. PFS Partners LLC boosted its position in RTX by 101.1% during the second quarter. PFS Partners LLC now owns 177 shares of the company's stock valued at $26,000 after buying an additional 89 shares during the period. Summit Securities Group LLC purchased a new stake in RTX during the first quarter valued at about $40,000. McClarren Financial Advisors Inc. purchased a new stake in RTX during the first quarter valued at about $44,000. Finally, Financial Gravity Asset Management Inc. purchased a new stake in RTX during the first quarter valued at about $50,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other RTX news, insider Shane G. Eddy sold 25,968 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $159.79, for a total transaction of $4,149,426.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ramsaran Maharajh sold 1,462 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the transaction, the executive vice president directly owned 13,184 shares of the company's stock, valued at $2,007,395.84. This represents 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 quarter. 0.15% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RTX. Sanford C. Bernstein increased their target price on shares of RTX from $154.00 to $157.00 and gave the stock a "market perform" rating in a report on Wednesday, September 10th. Royal Bank Of Canada reiterated an "outperform" rating and set a $170.00 target price (up from $165.00) on shares of RTX in a report on Wednesday, July 23rd. UBS Group increased their target price on shares of RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. increased 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. Finally, Morgan Stanley increased their target price on shares of RTX from $165.00 to $180.00 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, fourteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, RTX currently has a consensus rating of "Moderate Buy" and a consensus target price of $158.87.

RTX Price Performance

RTX stock opened at $166.73 on Friday. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $168.28. The company has a market cap of $223.18 billion, a P/E ratio of 36.64, a PEG ratio of 3.07 and a beta of 0.66. The firm has a 50-day moving average of $158.18 and a 200 day moving average of $143.95. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75.

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 analysts' consensus estimates of $1.45 by $0.11. RTX had a net margin of 7.35% and a return on equity of 12.89%. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. During the same period in the prior year, the firm earned $1.41 earnings per share. RTX's revenue 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, sell-side analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

About RTX

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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