OLD National Bancorp IN Sells 4,356 Shares of RTX Corporation $RTX

Key Points

• OLD National Bancorp IN decreased its holdings in RTX Corporation by 13.9%, selling 4,356 shares during the second quarter, reducing its ownership to 26,951 shares valued at approximately $3.9 million.
• Insider sales indicate a 22.49% decrease in holdings as VP Kevin G. Dasilva sold 8,704 shares for $1.36 million, while other executives also offloaded shares, collectively totaling over $8.9 million in insider sales in the last 90 days.
• RTX Corporation reported $1.56 EPS for the last quarter, exceeding estimates, with a revenue growth of 9.4% year-over-year, prompting several analysts to raise their price targets for the stock.

OLD National Bancorp IN lowered its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 13.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,951 shares of the company's stock after selling 4,356 shares during the quarter. OLD National Bancorp IN's holdings in RTX were worth $3,935,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. MorganRosel Wealth Management LLC bought a new position in RTX in the 1st quarter worth approximately $26,000. PFS Partners LLC raised its position in shares of RTX by 101.1% during the second quarter. PFS Partners LLC now owns 177 shares of the company's stock worth $26,000 after acquiring an additional 89 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of RTX during the first quarter valued at $40,000. McClarren Financial Advisors Inc. bought a new position in RTX in the first quarter valued at about $44,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in RTX in the first quarter worth about $50,000. 86.50% of the stock is owned by 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 directly 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ramsaran Maharajh sold 1,462 shares of RTX 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 completion of the transaction, the executive vice president directly 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. Insiders have sold a total of 56,635 shares of company stock valued at $8,947,010 over the last 90 days. Insiders own 0.15% of the company's stock.

RTX Trading Up 0.1%

RTX opened at $166.73 on Monday. The firm's fifty day moving average is $158.18 and its two-hundred day moving average is $144.02. The firm has a market cap of $223.18 billion, a PE ratio of 36.64, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $168.28. 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 (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. The business had revenue of $21.58 billion during 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 firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.41 EPS. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Equities research analysts anticipate that RTX Corporation will post 6.11 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Sanford C. Bernstein upped their target price on shares of RTX from $154.00 to $157.00 and gave the company a "market perform" rating in a research report on Wednesday, September 10th. Susquehanna raised their price objective on shares of RTX from $160.00 to $175.00 and gave the company a "positive" 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 report on Tuesday, July 29th. Morgan Stanley raised their price target on RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of RTX in a research note on Monday, July 21st. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $158.87.

RTX 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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