Procyon Advisors LLC Trims Stock Holdings in RTX Corporation $RTX

Key Points

• Procyon Advisors LLC reduced its stake in RTX Corporation by 75.7%, bringing its holdings down to 8,979 shares valued at approximately $1.31 million.
• RTX reported earnings of $1.56 per share for the last quarter, exceeding analysts' expectations, with a revenue increase of 9.4% year-over-year to $21.58 billion.
• The company declared a quarterly dividend of $0.68 per share, reflecting an annualized payout of $2.72 and a yield of 1.7%.

Procyon Advisors LLC lessened its stake in RTX Corporation (NYSE:RTX - Free Report) by 75.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 8,979 shares of the company's stock after selling 28,002 shares during the quarter. Procyon Advisors LLC's holdings in RTX were worth $1,311,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. TrueWealth Advisors LLC lifted its stake in RTX by 3.6% during the second quarter. TrueWealth Advisors LLC now owns 2,007 shares of the company's stock worth $293,000 after purchasing an additional 70 shares during the last quarter. RMR Wealth Builders lifted its stake in RTX by 3.6% during the second quarter. RMR Wealth Builders now owns 2,036 shares of the company's stock worth $297,000 after purchasing an additional 70 shares during the last quarter. Hamilton Capital LLC lifted its stake in RTX by 3.6% during the first quarter. Hamilton Capital LLC now owns 2,122 shares of the company's stock worth $281,000 after purchasing an additional 74 shares during the last quarter. Persium Advisors LLC lifted its stake in RTX by 1.6% during the second quarter. Persium Advisors LLC now owns 4,935 shares of the company's stock worth $721,000 after purchasing an additional 76 shares during the last quarter. Finally, ICW Investment Advisors LLC lifted its stake in RTX by 0.6% during the first quarter. ICW Investment Advisors LLC now owns 13,845 shares of the company's stock worth $1,834,000 after purchasing an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Performance

Shares of NYSE:RTX traded up $0.03 during trading on Friday, reaching $158.22. The company had a trading volume of 7,081,960 shares, compared to its average volume of 5,141,378. The firm has a market capitalization of $211.78 billion, a price-to-earnings ratio of 34.77, a price-to-earnings-growth ratio of 2.92 and a beta of 0.67. 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 fifty day moving average price is $155.64 and its 200 day moving average price is $141.33. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $161.26.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%.The company's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 earnings per share. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, equities research analysts predict that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 15th. RTX's dividend payout ratio is currently 59.78%.

Insider Activity at RTX

In other RTX 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 transaction of $2,027,513.54. Following the sale, the insider directly owned 17,684 shares in the company, valued at approximately $2,790,888.88. The trade was a 42.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Troy D. Brunk sold 7,654 shares of the business's 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 sale, the insider owned 16,442 shares in the company, valued at approximately $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. Insiders sold 56,635 shares of company stock valued at $8,947,010 in the last 90 days. 0.15% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on RTX. Jefferies Financial Group restated a "hold" rating on shares of RTX in a research note on Monday, July 21st. Bank of America boosted their target price on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen lowered RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Barclays lifted their price target on RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Finally, Sanford C. Bernstein lifted 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. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, RTX presently has a consensus rating of "Moderate Buy" and an average target price of $158.87.

RTX Company 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.