Princeton Global Asset Management LLC Increases Position in RTX Corporation $RTX

Princeton Global Asset Management LLC increased its stake in RTX Corporation (NYSE:RTX - Free Report) by 227,607.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,602 shares of the company's stock after purchasing an additional 29,589 shares during the quarter. Princeton Global Asset Management LLC's holdings in RTX were worth $4,322,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. PFS Partners LLC increased its holdings in shares of 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 purchasing an additional 89 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in RTX during the 1st quarter valued at about $26,000. Summit Securities Group LLC purchased a new position in RTX during the 1st quarter valued at about $40,000. McClarren Financial Advisors Inc. purchased a new position in RTX during the 1st quarter valued at about $44,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in RTX during the 1st quarter valued at about $50,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Performance

Shares of NYSE RTX opened at $158.04 on Monday. The company has a market cap of $211.55 billion, a PE ratio of 34.73, a price-to-earnings-growth ratio of 2.93 and a beta of 0.66. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $170.85. 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 company has a 50-day simple moving average of $159.20 and a 200-day simple moving average of $146.01.

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

Insiders Place Their Bets

In related 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 value of $1,359,564.80. Following the sale, the vice president directly owned 30,004 shares of the company's stock, valued at approximately $4,686,624.80. This trade represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Philip J. Jasper sold 12,847 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the completion of the sale, the insider directly owned 17,684 shares in the company, valued at $2,790,888.88. This represents a 42.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 56,635 shares of company stock valued at $8,947,010. 0.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RTX. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $195.00 target price on shares of RTX in a report on Wednesday, October 8th. Bank of America raised their target price on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Citigroup raised their target price on shares of RTX from $148.00 to $182.00 and gave the company a "buy" rating in a report on Monday, July 14th. Barclays raised 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. Finally, The Goldman Sachs Group lifted their price target on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $164.13.

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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