Phraction Management LLC Cuts Stake in RTX Corporation $RTX

Key Points

• Phraction Management LLC reduced its stake in RTX Corporation by 26.7%, selling 25,180 shares, which now accounts for about 3.2% of their portfolio.
• Insiders at RTX have sold a total of 56,635 shares valued at approximately $8.9 million over the last ninety days, indicating a decrease in personal investment in the company.
• RTX reported earnings of $1.56 per share for the last quarter, exceeding analyst expectations and reflecting a 9.4% year-over-year revenue increase.

Phraction Management LLC reduced its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 26.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,213 shares of the company's stock after selling 25,180 shares during the period. RTX accounts for approximately 3.2% of Phraction Management LLC's portfolio, making the stock its 10th largest position. Phraction Management LLC's holdings in RTX were worth $10,106,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 1,357,328 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in RTX by 1.0% in the 1st 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 in the last quarter. Invesco Ltd. lifted its position in shares of RTX by 1.5% in the 1st 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. Dimensional Fund Advisors LP increased its position in shares of RTX by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 7,713,131 shares of the company's stock valued at $1,021,623,000 after buying an additional 65,493 shares during the period. Finally, Nuveen LLC bought a new position in RTX in the first quarter worth about $916,739,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insider Transactions at RTX

In other RTX news, insider Troy D. Brunk sold 7,654 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the transaction, the insider owned 16,442 shares in the company, valued at approximately $2,551,798.40. This represents a 31.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shane G. Eddy sold 25,968 shares of the firm's stock in a transaction dated Wednesday, August 27th. The shares were 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. Over the last ninety days, insiders have sold 56,635 shares of company stock valued at $8,947,010. Insiders own 0.15% of the company's stock.

RTX Stock Performance

Shares of RTX stock opened at $166.68 on Friday. The company has a market capitalization of $223.11 billion, a price-to-earnings ratio of 36.63, a price-to-earnings-growth ratio of 3.08 and a beta of 0.66. 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 Corporation has a one year low of $112.27 and a one year high of $168.28. The company's 50-day moving average is $157.98 and its 200 day moving average is $143.66.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) 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 business had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $20.68 billion. During the same period in the previous year, the company earned $1.41 earnings per share. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Sell-side analysts expect that RTX Corporation will post 6.11 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on RTX. Morgan Stanley upped their target price on RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Bank of America increased their price objective on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Barclays boosted their target price on shares of RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Wall Street Zen lowered shares of RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, UBS Group lifted their price target on shares of RTX from $166.00 to $177.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target 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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