RTX Corporation $RTX Holdings Trimmed by Philip James Wealth Mangement LLC

Key Points

• Philip James Wealth Management LLC reduced its stake in RTX Corporation by 34.4%, now holding 7,849 shares valued at approximately $1.15 million.
• Several institutional investors have recently adjusted their positions, with PFS Partners notably increasing its stake by 101.1% during the same quarter.
• Analysts have raised their price targets for RTX, with estimates now as high as $175.00, reflecting a generally positive outlook on the company's performance.

Philip James Wealth Mangement LLC trimmed its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 34.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,849 shares of the company's stock after selling 4,113 shares during the period. Philip James Wealth Mangement LLC's holdings in RTX were worth $1,146,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RTX. PFS Partners LLC boosted its stake in shares of RTX by 101.1% during the 2nd quarter. PFS Partners LLC now owns 177 shares of the company's stock valued at $26,000 after buying an additional 89 shares during the period. MorganRosel Wealth Management LLC acquired a new stake in shares of RTX during the 1st quarter valued at $26,000. Summit Securities Group LLC acquired a new stake in shares of RTX during the 1st quarter valued at $40,000. McClarren Financial Advisors Inc. acquired a new stake in shares of RTX during the 1st quarter valued at $44,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of RTX during the 1st quarter valued at $50,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Susquehanna lifted their target price on shares of RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd. Bank of America lifted their target price on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their target price on shares of RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Sanford C. Bernstein upped their price objective on shares of RTX from $154.00 to $157.00 and gave the stock a "market perform" rating in a report on Wednesday, September 10th. Finally, UBS Group upped their price objective on shares of RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $158.87.

RTX Trading Up 0.0%

Shares of NYSE:RTX opened at $167.37 on Thursday. The stock has a market capitalization of $224.03 billion, a PE ratio of 36.78, a P/E/G ratio of 3.08 and a beta of 0.66. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $168.28. The firm has a fifty day moving average price of $157.75 and a 200 day moving average price of $143.42. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60.

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, topping analysts' consensus estimates of $1.45 by $0.11. The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The business's revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 EPS. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Analysts expect that RTX Corporation will post 6.11 EPS for the current fiscal year.

Insider Activity

In other RTX news, EVP Ramsaran Maharajh sold 1,462 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the completion of the transaction, the executive vice president owned 13,184 shares of the company's stock, valued at $2,007,395.84. The trade was a 9.98% decrease in their position. 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 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 transaction, the insider directly owned 17,684 shares of the company's stock, valued at approximately $2,790,888.88. This represents a 42.08% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,635 shares of company stock worth $8,947,010. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.