Legacy Wealth Management LLC MS Decreases Stock Position in RTX Corporation $RTX

Key Points

• Legacy Wealth Management LLC MS reduced its stake in RTX Corporation by 4.6%, owning 36,456 shares worth approximately $5.32 million, making it the 12th largest position in their portfolio.
• Several institutional investors, including Nuveen LLC and GAMMA Investing LLC, increased their positions significantly in RTX, contributing to 86.50% of the stock being owned by institutional investors.
• RTX announced a quarterly dividend of $0.68, with an annualized dividend yield of 1.7% and a payout ratio of 59.78%.

Legacy Wealth Management LLC MS cut its holdings in RTX Corporation (NYSE:RTX - Free Report) by 4.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,456 shares of the company's stock after selling 1,761 shares during the quarter. RTX comprises 1.6% of Legacy Wealth Management LLC MS's holdings, making the stock its 12th largest position. Legacy Wealth Management LLC MS's holdings in RTX were worth $5,323,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RTX. Nuveen LLC acquired a new position in shares of RTX in the first quarter valued at about $916,739,000. GAMMA Investing LLC increased its holdings in shares of RTX by 14,838.5% in the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock valued at $551,460,000 after purchasing an additional 4,135,349 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of RTX by 28.0% in the first quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company's stock valued at $845,784,000 after purchasing an additional 1,394,918 shares during the period. Vanguard Group Inc. increased its holdings in shares of RTX by 1.1% in the first quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock valued at $15,873,541,000 after purchasing an additional 1,357,328 shares during the period. Finally, 1832 Asset Management L.P. increased its holdings in shares of RTX by 1,178.2% in the first quarter. 1832 Asset Management L.P. now owns 1,212,353 shares of the company's stock valued at $160,588,000 after purchasing an additional 1,117,506 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Down 1.1%

Shares of RTX opened at $155.90 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.75 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 stock's 50 day moving average is $154.64 and its two-hundred day moving average is $140.58. The firm has a market cap of $208.68 billion, a P/E ratio of 34.26, a PEG ratio of 2.91 and a beta of 0.67.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating 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 company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same period last year, the company earned $1.41 earnings per share. RTX'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. Analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal 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 issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 15th. RTX's dividend payout ratio (DPR) is presently 59.78%.

Insider Transactions at RTX

In related news, insider Troy D. Brunk sold 7,654 shares of the business'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 transaction 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. The trade was a 31.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president owned 13,184 shares of the company's stock, 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. Over the last three months, insiders sold 56,635 shares of company stock valued at $8,947,010. Insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on RTX shares. Cowen reissued a "buy" rating on shares of RTX in a report on Friday, May 23rd. Sanford C. Bernstein increased their price objective on RTX from $154.00 to $157.00 and gave the company a "market perform" rating in a report on Wednesday. Jefferies Financial Group reaffirmed a "hold" rating on shares of RTX in a report on Monday, July 21st. Barclays raised their target price on RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. raised their target price on 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 issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, RTX currently has a consensus rating of "Moderate Buy" and an average target price of $158.87.

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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