Legal Advantage Investments Inc. Purchases 5,366 Shares of RTX Corporation $RTX

Key Points

• Legal Advantage Investments Inc. increased its stake in RTX Corporation by 25.4%, purchasing an additional 5,366 shares, which now makes RTX about 1.8% of their investment portfolio.
• Several large institutional investors have also recently modified their positions in RTX, with notable investments from Nuveen LLC and Goldman Sachs Group Inc., indicating growing interest in the company.
• RTX reported a strong earnings performance, with a quarterly EPS of $1.56, surpassing market expectations, and anticipates posting a full year EPS of 6.11 for the current year.

Legal Advantage Investments Inc. grew its position in RTX Corporation (NYSE:RTX - Free Report) by 25.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 26,493 shares of the company's stock after acquiring an additional 5,366 shares during the period. RTX accounts for approximately 1.8% of Legal Advantage Investments Inc.'s investment portfolio, making the stock its 22nd biggest position. Legal Advantage Investments Inc.'s holdings in RTX were worth $3,868,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RTX. Nuveen LLC bought a new position in shares of RTX in the 1st quarter valued at $916,739,000. Goldman Sachs Group Inc. lifted its stake in shares of RTX by 28.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company's stock valued at $845,784,000 after acquiring an additional 1,394,918 shares during the last quarter. Vanguard Group Inc. increased its holdings in 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. 1832 Asset Management L.P. increased its holdings in 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. Finally, Zurich Insurance Group Ltd FI acquired a new stake in RTX in the first quarter valued at $130,194,000. 86.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Troy D. Brunk sold 7,654 shares of the firm's stock in a transaction dated 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 $2,551,798.40. This trade represents a 31.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Philip J. Jasper sold 12,847 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $2,790,888.88. This represents a 42.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,635 shares of company stock worth $8,947,010 over the last 90 days. 0.15% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RTX shares. Royal Bank Of Canada restated an "outperform" rating and issued a $170.00 price objective (up from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $195.00 price objective on shares of RTX in a report on Wednesday. Bank of America increased their price objective on RTX from $150.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Sanford C. Bernstein increased their price objective on RTX from $157.00 to $181.00 and gave the company a "market perform" rating in a report on Monday, October 6th. Finally, Wall Street Zen downgraded RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $164.13.

RTX Stock Performance

Shares of RTX stock opened at $157.64 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. The business has a 50-day moving average price of $159.00 and a two-hundred day moving average price of $145.03. The company has a market cap of $211.01 billion, a P/E ratio of 34.65, a PEG ratio of 2.91 and a beta of 0.66. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $170.85.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.45 by $0.11. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate 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 period last year, the business posted $1.41 EPS. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, analysts anticipate 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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