Ritholtz Wealth Management Has $6.24 Million Position in RTX Corporation $RTX

Key Points

• Ritholtz Wealth Management increased its stake in RTX Corporation by 15.1% in Q2, owning 42,758 shares valued at $6.24 million as of the latest SEC filing.
• Various hedge funds have adjusted their positions in RTX, with 86.50% of the stock now owned by institutional investors, reflecting a significant interest from the investment community.
• Analysts have upgraded RTX's pricing targets, with UBS Group raising it from $166.00 to $177.00, while Citigroup increased it from $148.00 to $182.00, indicating positive market sentiment.

Ritholtz Wealth Management lifted its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 15.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,758 shares of the company's stock after acquiring an additional 5,621 shares during the period. Ritholtz Wealth Management's holdings in RTX were worth $6,244,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Bay Capital Advisors LLC acquired a new stake in RTX in the first quarter valued at about $224,000. Brookwood Investment Group LLC acquired a new stake in shares of RTX in the 1st quarter valued at approximately $1,288,000. LBP AM SA increased its position in RTX by 17.7% during the 1st quarter. LBP AM SA now owns 279,179 shares of the company's stock worth $36,980,000 after purchasing an additional 41,990 shares in the last quarter. Arizona State Retirement System lifted its stake in RTX by 1.4% in the 1st quarter. Arizona State Retirement System now owns 390,617 shares of the company's stock valued at $51,741,000 after purchasing an additional 5,356 shares during the last quarter. Finally, Redwood Financial Network Corp acquired a new stake in RTX in the first quarter valued at approximately $243,000. 86.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. UBS Group upped their price target on shares of RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Morgan Stanley boosted their price objective on RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Weiss Ratings reiterated a "buy (b-)" rating on shares of RTX in a research report on Wednesday, October 8th. Sanford C. Bernstein lifted their price target on RTX from $157.00 to $181.00 and gave the company a "market perform" rating in a research note on Monday, October 6th. Finally, Citigroup upped their price objective on RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $164.13.

RTX Price Performance

Shares of RTX opened at $159.45 on Wednesday. The business has a 50-day moving average of $159.09 and a 200-day moving average of $145.39. 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 market capitalization of $213.43 billion, a price-to-earnings ratio of 35.04, a price-to-earnings-growth ratio of 2.95 and a beta of 0.66. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $170.85.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $20.68 billion. During the same quarter in the prior year, the firm posted $1.41 EPS. The company'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. As a group, equities research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.

Insider Activity at RTX

In other news, insider Troy D. Brunk sold 7,654 shares of RTX stock in a transaction dated 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 completion of the transaction, the insider directly owned 16,442 shares of the company's stock, valued at approximately $2,551,798.40. This trade represents a 31.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shane G. Eddy sold 25,968 shares of the company's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $159.79, for a total value of $4,149,426.72. The disclosure for this sale can be found here. Insiders sold a total of 56,635 shares of company stock valued at $8,947,010 over the last 90 days. 0.15% of the stock is owned by company insiders.

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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