Patton Fund Management Inc. Acquires New Holdings in RTX Corporation $RTX

Key Points

• Patton Fund Management Inc. has acquired a new stake in RTX Corporation, purchasing 1,759 shares valued at approximately $257,000 during the second quarter.
• RTX reported quarterly earnings of $1.56 EPS, surpassing expectations, with revenues increasing 9.4% year-over-year, totaling $21.58 billion.
• Several analysts raised their target prices for RTX, with Bank of America setting a new target of $175.00, consolidating a consensus rating of "Moderate Buy" for the stock.

Patton Fund Management Inc. acquired a new stake in RTX Corporation (NYSE:RTX - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,759 shares of the company's stock, valued at approximately $257,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Kathmere Capital Management LLC grew its holdings in RTX by 2.5% in the 2nd quarter. Kathmere Capital Management LLC now owns 8,545 shares of the company's stock valued at $1,248,000 after buying an additional 205 shares during the last quarter. PFS Partners LLC grew its holdings in RTX by 101.1% in the 2nd quarter. PFS Partners LLC now owns 177 shares of the company's stock valued at $26,000 after buying an additional 89 shares during the last quarter. Investment Partners Asset Management Inc. acquired a new stake in RTX in the 2nd quarter valued at approximately $206,000. Destiny Wealth Partners LLC acquired a new stake in RTX in the 2nd quarter valued at approximately $497,000. Finally, ST Germain D J Co. Inc. grew its holdings in RTX by 11.9% in the 2nd quarter. ST Germain D J Co. Inc. now owns 12,831 shares of the company's stock valued at $1,874,000 after buying an additional 1,362 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Price Performance

Shares of RTX stock opened at $163.50 on Friday. The stock's fifty day simple moving average is $156.93 and its 200 day simple moving average is $142.75. 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 $218.85 billion, a price-to-earnings ratio of 35.93, a P/E/G ratio of 3.01 and a beta of 0.67. RTX Corporation has a one year low of $112.27 and a one year high of $165.35.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.45 by $0.11. The business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%.RTX's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.41 EPS. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. On average, analysts expect that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Philip J. Jasper sold 12,847 shares of the business's 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 sale, the insider owned 17,684 shares of the company's stock, valued at $2,790,888.88. The trade was a 42.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ramsaran Maharajh sold 1,462 shares of the business's 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 completion of the sale, the executive vice president directly owned 13,184 shares in the company, valued at approximately $2,007,395.84. This represents a 9.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,635 shares of company stock worth $8,947,010 over the last quarter. Corporate insiders own 0.15% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Bank of America raised their target price on RTX from $150.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Sanford C. Bernstein lifted their price objective on RTX from $154.00 to $157.00 and gave the stock a "market perform" rating in a report on Wednesday, September 10th. Jefferies Financial Group reissued a "hold" rating on shares of RTX in a report on Monday, July 21st. Susquehanna lifted their price objective on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $170.00 price objective (up previously from $165.00) on shares of RTX in a report 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $158.87.

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.

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