RTX Corporation $RTX is Oak Asset Management LLC's 6th Largest Position

Key Points

• Oak Asset Management LLC has reduced its stake in RTX Corporation by 11.7%, selling 8,509 shares and bringing its total holdings to 64,233 shares, valued at approximately $9.38 million.
• Several institutional investors have increased their stakes in RTX, with ownership by these entities standing at 86.50% of the company's stock.
• Analysts have raised their price targets for RTX, with Morgan Stanley increasing it from $165 to $180, and Citigroup raising it to $182, reflecting a generally positive outlook on the stock.

Oak Asset Management LLC cut its holdings in RTX Corporation (NYSE:RTX - Free Report) by 11.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,233 shares of the company's stock after selling 8,509 shares during the quarter. RTX makes up about 3.4% of Oak Asset Management LLC's holdings, making the stock its 6th biggest holding. Oak Asset Management LLC's holdings in RTX were worth $9,379,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RTX. TrueWealth Advisors LLC grew its position in RTX by 3.6% during the 2nd quarter. TrueWealth Advisors LLC now owns 2,007 shares of the company's stock valued at $293,000 after purchasing an additional 70 shares during the last quarter. RMR Wealth Builders grew its position in RTX by 3.6% during the 2nd quarter. RMR Wealth Builders now owns 2,036 shares of the company's stock valued at $297,000 after purchasing an additional 70 shares during the last quarter. Hamilton Capital LLC grew its position in RTX by 3.6% during the 1st quarter. Hamilton Capital LLC now owns 2,122 shares of the company's stock valued at $281,000 after purchasing an additional 74 shares during the last quarter. Persium Advisors LLC grew its position in RTX by 1.6% during the 2nd quarter. Persium Advisors LLC now owns 4,935 shares of the company's stock valued at $721,000 after purchasing an additional 76 shares during the last quarter. Finally, ICW Investment Advisors LLC grew its position in RTX by 0.6% during the 1st quarter. ICW Investment Advisors LLC now owns 13,845 shares of the company's stock valued at $1,834,000 after purchasing an additional 77 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at RTX

In other RTX news, VP Kevin G. Dasilva sold 8,704 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the sale, the vice president owned 30,004 shares in the company, valued at approximately $4,686,624.80. This trade represents a 22.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shane G. Eddy sold 25,968 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $159.79, for a total transaction of $4,149,426.72. The disclosure for this sale can be found here. Insiders have sold 56,635 shares of company stock worth $8,947,010 in the last 90 days. Insiders own 0.15% of the company's stock.

Analyst Ratings Changes

RTX has been the topic of several research analyst reports. Royal Bank Of Canada restated an "outperform" rating and set a $170.00 target price (up previously from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. UBS Group upped their target price on shares of RTX from $166.00 to $177.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Morgan Stanley upped their target price on shares of RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Barclays upped their target price on shares of RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Finally, JPMorgan Chase & Co. upped their target price on shares of RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, RTX currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.87.

RTX Stock Performance

Shares of NYSE:RTX traded up $1.34 during trading on Monday, hitting $159.58. The company's stock had a trading volume of 3,294,972 shares, compared to its average volume of 5,131,123. The company has a 50-day moving average of $155.86 and a 200-day moving average of $141.71. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $161.26. 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 cap of $213.60 billion, a price-to-earnings ratio of 35.07, a P/E/G ratio of 2.92 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 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.11. RTX had a net margin of 7.35% and a return on equity of 12.89%. The firm had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. During the same quarter in the prior year, the business earned $1.41 EPS. The business's quarterly revenue was up 9.4% on a year-over-year basis. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. On average, sell-side analysts expect that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

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

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.