OLD Point Trust & Financial Services N A Trims Stock Position in RTX Corporation $RTX

Key Points

• OLD Point Trust & Financial Services N A reduced its stake in RTX Corporation by 3.3% during Q2, holding 61,616 shares worth approximately $8.99 million.
• Insider trading activity shows that key executives sold a significant number of shares recently, with one insider reducing their position by over 42%.
• RTX stock is currently trading at $167.31, with a year-to-date high of $168.28, reflecting a strong earnings report that surpassed expectations.

OLD Point Trust & Financial Services N A lessened its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 3.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,616 shares of the company's stock after selling 2,100 shares during the period. RTX comprises 3.1% of OLD Point Trust & Financial Services N A's portfolio, making the stock its 6th largest position. OLD Point Trust & Financial Services N A's holdings in RTX were worth $8,997,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new position in RTX during the 1st quarter worth approximately $26,000. PFS Partners LLC lifted its holdings in RTX by 101.1% during the 2nd quarter. PFS Partners LLC now owns 177 shares of the company's stock worth $26,000 after buying an additional 89 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of RTX during the 1st quarter worth approximately $40,000. McClarren Financial Advisors Inc. acquired a new stake in shares of RTX during the 1st quarter worth approximately $44,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of RTX during the 1st quarter worth approximately $50,000. Institutional investors own 86.50% of the company's stock.

Insiders Place Their Bets

In related news, insider Philip J. Jasper sold 12,847 shares of RTX stock in a transaction on Monday, August 4th. The stock was sold at an average price of $157.82, for a total value of $2,027,513.54. Following the transaction, the insider directly owned 17,684 shares in the company, valued at $2,790,888.88. The trade was a 42.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Troy D. Brunk sold 7,654 shares of RTX stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total value of $1,187,900.80. Following the completion of the transaction, the insider owned 16,442 shares in the company, valued at $2,551,798.40. The trade was a 31.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,635 shares of company stock worth $8,947,010. Corporate insiders own 0.15% of the company's stock.

RTX Stock Up 2.2%

Shares of RTX stock opened at $167.31 on Wednesday. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $168.28. The stock has a market cap of $223.95 billion, a PE ratio of 36.77, a price-to-earnings-growth ratio of 3.02 and a beta of 0.67. The business's fifty day moving average is $157.53 and its 200-day moving average is $143.25. 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 issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.11. The company 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 revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $1.41 EPS. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Equities analysts expect that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RTX. Sanford C. Bernstein increased their price target on RTX from $154.00 to $157.00 and gave the stock a "market perform" rating in a research report on Wednesday, September 10th. Citigroup increased their price target on RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Morgan Stanley increased 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. Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. lifted their target price on RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus 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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