Lewis Asset Management LLC Increases Stock Holdings in RTX Corporation $RTX

Key Points

• Lewis Asset Management LLC increased its holdings in RTX Corporation by 97.7% during the second quarter, owning a total of 6,317 shares valued at approximately $922,000.
• Insiders at RTX Corporation have recently sold a total of 56,635 shares valued at around $8.9 million, indicating potential shifts in ownership dynamics.
• Analysts have raised their target prices for RTX shares, with Bank of America setting a new target at $175.00 and Citigroup increasing it to $182.00, reflecting strong market expectations.

Lewis Asset Management LLC increased its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 97.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,317 shares of the company's stock after buying an additional 3,122 shares during the quarter. Lewis Asset Management LLC's holdings in RTX were worth $922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Whitener Capital Management Inc. grew its stake in RTX by 0.6% during the 2nd quarter. Whitener Capital Management Inc. now owns 17,613 shares of the company's stock valued at $2,572,000 after purchasing an additional 98 shares during the last quarter. Sowell Financial Services LLC grew its stake in RTX by 35.7% during the 2nd quarter. Sowell Financial Services LLC now owns 21,255 shares of the company's stock valued at $3,104,000 after purchasing an additional 5,590 shares during the last quarter. Physician Wealth Advisors Inc. boosted its stake in shares of RTX by 4.1% in the second quarter. Physician Wealth Advisors Inc. now owns 2,347 shares of the company's stock worth $343,000 after buying an additional 93 shares during the last quarter. Wealth Management Partners LLC boosted its stake in shares of RTX by 2.6% in the second quarter. Wealth Management Partners LLC now owns 4,408 shares of the company's stock worth $643,000 after buying an additional 113 shares during the last quarter. Finally, Arthur M. Cohen & Associates LLC boosted its stake in shares of RTX by 2.6% in the second quarter. Arthur M. Cohen & Associates LLC now owns 35,915 shares of the company's stock worth $5,244,000 after buying an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insiders Place Their Bets

In other RTX news, insider Shane G. Eddy sold 25,968 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $159.79, for a total value of $4,149,426.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Troy D. Brunk sold 7,654 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were 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 owned 16,442 shares in the company, valued at approximately $2,551,798.40. This represents a 31.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,635 shares of company stock valued at $8,947,010. 0.15% of the stock is owned by company insiders.

RTX Trading Up 0.0%

Shares of RTX stock opened at $158.22 on Monday. The firm has a market capitalization of $211.78 billion, a price-to-earnings ratio of 34.77, a PEG ratio of 2.92 and a beta of 0.67. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $161.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The stock has a 50 day moving average of $155.86 and a 200 day moving average of $141.71.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $20.68 billion. During the same period in the prior year, the business posted $1.41 earnings per share. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, research analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 15th were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, August 15th. RTX's dividend payout ratio (DPR) is presently 59.78%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on RTX shares. Bank of America upped their target price on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. The Goldman Sachs Group upped their target price on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research note on Monday, June 23rd. Royal Bank Of Canada restated an "outperform" rating and issued a $170.00 target price (up previously from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Citigroup upped their target price on RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Finally, Morgan Stanley upped their target price on RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $158.87.

RTX Company 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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