RTX Corporation $RTX Position Boosted by Bleakley Financial Group LLC

Key Points

• Bleakley Financial Group LLC increased its holdings in RTX Corporation by 20.9%, acquiring 9,193 additional shares worth approximately $7.77 million.
• RTX reported earnings of $1.70 per share, exceeding estimates by $0.29, and achieved quarterly revenue of $22.48 billion, up 11.9% year-over-year.
• Institutional investors own 86.50% of RTX stock, highlighting strong interest in the company among financial institutions.

Bleakley Financial Group LLC increased its holdings in RTX Corporation (NYSE:RTX - Free Report) by 20.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,224 shares of the company's stock after purchasing an additional 9,193 shares during the quarter. Bleakley Financial Group LLC's holdings in RTX were worth $7,772,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RTX. Strategic Blueprint LLC grew its position in RTX by 20.7% in the second quarter. Strategic Blueprint LLC now owns 10,115 shares of the company's stock worth $1,477,000 after buying an additional 1,732 shares during the last quarter. Clifford Swan Investment Counsel LLC boosted its stake in shares of RTX by 0.3% during the 2nd quarter. Clifford Swan Investment Counsel LLC now owns 219,297 shares of the company's stock worth $32,022,000 after acquiring an additional 609 shares in the last quarter. Granite Harbor Advisors Inc. grew its holdings in shares of RTX by 11.2% in the 2nd quarter. Granite Harbor Advisors Inc. now owns 1,974 shares of the company's stock worth $288,000 after acquiring an additional 199 shares during the last quarter. Ethic Inc. grew its holdings in shares of RTX by 18.4% in the 2nd quarter. Ethic Inc. now owns 48,788 shares of the company's stock worth $7,058,000 after acquiring an additional 7,593 shares during the last quarter. Finally, Meadow Creek Wealth Advisors LLC raised its position in shares of RTX by 4.8% during the second quarter. Meadow Creek Wealth Advisors LLC now owns 4,789 shares of the company's stock worth $699,000 after purchasing an additional 221 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Performance

RTX stock opened at $177.86 on Thursday. The firm has a 50 day simple moving average of $160.11 and a 200 day simple moving average of $146.72. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $178.76. The stock has a market cap of $238.07 billion, a P/E ratio of 36.52, a P/E/G ratio of 3.10 and a beta of 0.66. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, October 21st. The company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.29. The firm had revenue of $22.48 billion for the quarter, compared to analyst estimates of $21.26 billion. RTX had a net margin of 7.67% and a return on equity of 13.45%. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.45 EPS. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. Research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

Insider Transactions at RTX

In other news, insider Shane G. Eddy sold 25,968 shares of RTX stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $159.79, for a total transaction of $4,149,426.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Philip J. Jasper sold 12,847 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $157.82, for a total value of $2,027,513.54. Following the completion of the transaction, the insider owned 17,684 shares in the company, valued at $2,790,888.88. This represents a 42.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,469 shares of company stock valued at $7,364,841 in the last three months. Corporate insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RTX. Bank of America increased their price target on RTX from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. The Goldman Sachs Group raised their target price on shares of RTX from $151.00 to $168.00 and gave the stock a "neutral" rating in a report on Wednesday. Morgan Stanley set a $215.00 target price on shares of RTX and gave the stock an "overweight" rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of RTX in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $175.80.

About RTX

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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