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Lockheed Martin Investment Management Co. Has $11.62 Million Stock Position in RTX Corporation (NYSE:RTX)

RTX logo with Aerospace background

Key Points

  • Lockheed Martin Investment Management Co. has reduced its stake in RTX Corporation by 2.3%, now holding 87,750 shares valued at approximately $11.62 million.
  • Various institutional investors have adjusted their stakes in RTX, with Brighton Jones LLC increasing its position by 24.3% in the last quarter.
  • RTX recently reported earnings of $1.56 per share, surpassing analysts' expectations, with revenue of $21.58 billion for the quarter, up 9.4% year-over-year.
  • Looking to export and analyze RTX data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Lockheed Martin Investment Management Co. reduced its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 87,750 shares of the company's stock after selling 2,070 shares during the quarter. Lockheed Martin Investment Management Co.'s holdings in RTX were worth $11,623,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of RTX by 24.3% in the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock worth $1,969,000 after purchasing an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of RTX by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock worth $564,000 after purchasing an additional 159 shares during the last quarter. Heritage Trust Co purchased a new stake in shares of RTX in the fourth quarter worth approximately $1,437,000. Petros Family Wealth LLC purchased a new stake in shares of RTX in the fourth quarter worth approximately $828,000. Finally, Townsquare Capital LLC raised its stake in shares of RTX by 3.6% in the fourth quarter. Townsquare Capital LLC now owns 245,707 shares of the company's stock worth $28,433,000 after purchasing an additional 8,502 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wall Street Zen downgraded RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. JPMorgan Chase & Co. increased their price target on RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Susquehanna increased their price target on RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Morgan Stanley increased their price target on RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Barclays increased their price target on RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, RTX has an average rating of "Moderate Buy" and a consensus target price of $158.67.

Check Out Our Latest Analysis on RTX

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the sale, the executive vice president owned 16,538 shares of the company's stock, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total value of $222,604.12. Following the sale, 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. Over the last quarter, insiders sold 39,935 shares of company stock worth $5,938,488. Company insiders own 0.15% of the company's stock.

RTX Price Performance

RTX stock opened at $154.98 on Friday. RTX Corporation has a one year low of $112.27 and a one year high of $158.79. The business has a fifty day moving average price of $147.87 and a 200-day moving average price of $135.46. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The firm has a market capitalization of $207.45 billion, a P/E ratio of 34.06, a PEG ratio of 2.85 and a beta of 0.69.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.41 EPS. As a group, equities research analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.8%. RTX's dividend payout ratio (DPR) is 59.78%.

RTX Company Profile

(Free Report)

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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Institutional Ownership by Quarter for RTX (NYSE:RTX)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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