Rice Partnership LLC Grows Position in RTX Corporation $RTX

Key Points

• Rice Partnership LLC increased its stake in RTX Corporation by 2.8% during the 2nd quarter, owning a total of 89,953 shares valued at approximately $13.1 million.
• RTX reported a quarterly earnings per share of $1.56, surpassing expectations and showing a 9.4% increase in revenue year-over-year, totaling $21.58 billion.
• The stock has received multiple upgrades from analysts, with target prices ranging from $126 to $182, indicating strong market confidence.

Rice Partnership LLC grew its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 89,953 shares of the company's stock after acquiring an additional 2,458 shares during the quarter. RTX comprises approximately 2.3% of Rice Partnership LLC's portfolio, making the stock its 15th biggest position. Rice Partnership LLC's holdings in RTX were worth $13,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of RTX by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock worth $15,873,541,000 after purchasing an additional 1,357,328 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of 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. grew its holdings 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 acquiring an additional 154,544 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of RTX by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 7,713,131 shares of the company's stock worth $1,021,623,000 after acquiring an additional 65,493 shares during the period. Finally, Nuveen LLC bought a new stake in shares of RTX in the first quarter worth $916,739,000. Institutional investors own 86.50% of the company's stock.

RTX Trading Down 0.5%

Shares of NYSE RTX opened at $168.47 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The business's 50 day moving average price is $158.89 and its 200-day moving average price is $144.61. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $170.85. The company has a market cap of $225.50 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 3.12 and a beta of 0.66.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%.The firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $20.68 billion. During the same period in the prior year, the business posted $1.41 earnings per share. The company'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. On average, sell-side analysts expect that RTX Corporation will post 6.11 earnings per share for the current year.

Wall Street Analyst Weigh In

RTX has been the subject of several research analyst reports. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of RTX in a report on Wednesday. Citigroup lifted their price objective on RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Bank of America boosted their price target on RTX from $150.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $170.00 price target (up previously from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Finally, The Goldman Sachs Group boosted their price target on RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a report on Monday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $164.13.

Insider Activity at RTX

In other RTX news, insider Troy D. Brunk sold 7,654 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the transaction, the insider directly owned 16,442 shares in the company, valued at $2,551,798.40. This trade represents a 31.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Kevin G. Dasilva sold 8,704 shares of the stock in a transaction 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 in the company, valued at $4,686,624.80. This trade represents a 22.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,635 shares of company stock worth $8,947,010 over the last three months. Corporate insiders own 0.15% of the company's stock.

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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