Philadelphia Trust Co. Lowers Position in RTX Corporation $RTX

Key Points

• Philadelphia Trust Co. reduced its stake in RTX Corporation by 10.9%, selling 28,106 shares in the first quarter, but still maintaining 230,211 shares valued at approximately $30.5 million.
• RTX reported $1.56 earnings per share in its latest quarterly earnings, surpassing the consensus estimate by $0.11, with revenue reaching $21.58 billion, up 9.4% year-over-year.
• The company announced a quarterly dividend of $0.68 per share, translating to an annualized yield of 1.8%, with a payout ratio of 59.78%.

Philadelphia Trust Co. trimmed its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 10.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 230,211 shares of the company's stock after selling 28,106 shares during the period. RTX makes up 2.6% of Philadelphia Trust Co.'s investment portfolio, making the stock its 9th largest holding. Philadelphia Trust Co.'s holdings in RTX were worth $30,494,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in RTX by 1.1% during the first quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock valued at $15,873,541,000 after buying an additional 1,357,328 shares during the last quarter. Northern Trust Corp boosted its position in shares of RTX by 8.4% in the fourth quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock worth $1,494,257,000 after purchasing an additional 997,806 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of RTX by 43.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock worth $1,216,063,000 after purchasing an additional 3,164,844 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of RTX by 1.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,351,568 shares of the company's stock worth $1,371,171,000 after purchasing an additional 104,139 shares during the period. Finally, Invesco Ltd. boosted its position in shares of RTX by 1.5% in the first quarter. Invesco Ltd. now owns 10,312,313 shares of the company's stock worth $1,365,969,000 after purchasing an additional 154,544 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other RTX news, VP Kevin G. Dasilva sold 8,704 shares of the stock in a transaction dated 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 transaction, the vice president directly owned 30,004 shares in the company, valued at $4,686,624.80. This represents a 22.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,589 shares of company stock worth $7,126,389 over the last ninety days. 0.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RTX. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price target for the company in a research report on Friday, April 25th. Morgan Stanley upped their target price on shares of RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Barclays upped their target price on shares of RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. UBS Group upped their target price on shares of RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Citigroup upped their target price on shares of RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $158.67.

RTX Trading Up 1.9%

Shares of RTX traded up $2.9960 during midday trading on Wednesday, hitting $156.6560. The stock had a trading volume of 2,374,243 shares, compared to its average volume of 5,267,802. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $158.79. The firm has a market cap of $209.69 billion, a PE ratio of 34.43, a price-to-earnings-growth ratio of 2.87 and a beta of 0.69. 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 stock's 50 day moving average is $150.14 and its 200 day moving average is $136.83.

RTX (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating 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 business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $20.68 billion. During the same quarter in the prior year, the firm posted $1.41 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, analysts forecast that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.7%. RTX's dividend payout ratio is presently 59.78%.

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.