RTX Corporation $RTX Shares Purchased by TOWER TRUST & INVESTMENT Co

Key Points

• TOWER TRUST & INVESTMENT Co significantly increased its holdings in RTX Corporation by 8,585.2%, owning 7,035 shares valued at approximately $1,027,000 by the end of the second quarter.
• RTX Corporation reported $1.56 earnings per share for the last quarter, exceeding estimates, with quarterly revenue of $21.58 billion, a 9.4% year-over-year increase.
• Institutional investors own about 86.50% of RTX stock, reflecting strong interest, with several analysts raising their price targets, some up to $177.00.

TOWER TRUST & INVESTMENT Co increased its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 8,585.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,035 shares of the company's stock after acquiring an additional 6,954 shares during the quarter. TOWER TRUST & INVESTMENT Co's holdings in RTX were worth $1,027,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. MorganRosel Wealth Management LLC purchased a new stake in shares of RTX in the 1st quarter valued at approximately $26,000. PFS Partners LLC raised its stake in shares of RTX by 101.1% in the 2nd quarter. PFS Partners LLC now owns 177 shares of the company's stock valued at $26,000 after acquiring an additional 89 shares during the period. Summit Securities Group LLC purchased a new stake in shares of RTX in the 1st quarter valued at approximately $40,000. McClarren Financial Advisors Inc. acquired a new position in shares of RTX in the first quarter valued at approximately $44,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of RTX in the first quarter valued at approximately $50,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Trading Up 1.9%

Shares of RTX stock opened at $163.50 on Friday. The firm has a market cap of $218.85 billion, a P/E ratio of 35.93, a PEG ratio of 2.96 and a beta of 0.67. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $165.35. 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 firm's 50-day simple moving average is $156.93 and its 200-day simple moving average is $142.65.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data 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. RTX had a net margin of 7.35% and a return on equity of 12.89%. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same quarter last year, the firm posted $1.41 earnings per share. The business's quarterly revenue was up 9.4% on a year-over-year basis. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, equities analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

Insiders Place Their Bets

In related news, insider Philip J. Jasper sold 12,847 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $157.82, for a total value of $2,027,513.54. Following the completion of the sale, the insider owned 17,684 shares of the company's stock, valued at $2,790,888.88. This represents a 42.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shane G. Eddy sold 25,968 shares of the business's 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,635 shares of company stock valued at $8,947,010. Corporate insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. The Goldman Sachs Group boosted their price target on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $170.00 price target (up previously from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. upped their price target on shares of RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. 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 research report on Wednesday, July 23rd. Finally, Bank of America upped their price objective on shares of RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, RTX presently has a consensus rating of "Moderate Buy" and a consensus price target of $158.87.

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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