Leo Wealth LLC Sells 2,836 Shares of RTX Corporation $RTX

Key Points

• Leo Wealth LLC has reduced its stake in RTX Corporation by 34.7%, selling 2,836 shares, and now owns a total of 5,336 shares valued at approximately $779,000.
• Insider Troy D. Brunk sold 7,654 shares of RTX for around $1.19 million, resulting in a 31.76% decrease in their ownership.
• Analysts have revised their price targets for RTX, with Susquehanna increasing it from $160 to $175, and Morgan Stanley raising theirs from $165 to $180, reflecting strong market interest.

Leo Wealth LLC trimmed its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 34.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,336 shares of the company's stock after selling 2,836 shares during the period. Leo Wealth LLC's holdings in RTX were worth $779,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of RTX by 1.1% during the first quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock valued at $15,873,541,000 after acquiring an additional 1,357,328 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of RTX by 1.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,351,568 shares of the company's stock valued at $1,371,171,000 after acquiring an additional 104,139 shares during the last quarter. Invesco Ltd. raised its stake in shares of RTX by 1.5% during the first quarter. Invesco Ltd. now owns 10,312,313 shares of the company's stock valued at $1,365,969,000 after acquiring an additional 154,544 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of RTX by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 7,713,131 shares of the company's stock valued at $1,021,623,000 after acquiring an additional 65,493 shares during the last quarter. Finally, Nuveen LLC bought a new position in RTX in the first quarter worth about $916,739,000. 86.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Troy D. Brunk sold 7,654 shares of the stock in a transaction that occurred 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 sale, the insider owned 16,442 shares in the company, valued at $2,551,798.40. This represents a 31.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of the 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 sale, the executive vice president owned 13,184 shares in the company, valued at approximately $2,007,395.84. The trade was a 9.98% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,635 shares of company stock valued at $8,947,010. Insiders own 0.15% of the company's stock.

RTX Price Performance

Shares of RTX opened at $162.08 on Friday. The stock has a market cap of $216.95 billion, a PE ratio of 35.62, a price-to-earnings-growth ratio of 3.11 and a beta of 0.66. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $170.85. The firm's 50-day simple moving average is $158.98 and its two-hundred day simple moving average is $144.80.

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, topping analysts' consensus estimates of $1.45 by $0.11. The business had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The business's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.41 earnings per share. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group reissued a "hold" rating on shares of RTX in a research note on Monday, July 21st. Susquehanna increased their price target on shares of RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada reissued an "outperform" rating and issued a $170.00 price target (up from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Morgan Stanley increased their price target on shares of RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, UBS Group increased their price target on shares of RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $164.13.

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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