Woodline Partners LP Has $85.28 Million Stock Position in RTX Corporation $RTX

Key Points

• Woodline Partners LP increased its stake in RTX Corporation by 60.5%, owning 643,833 shares worth approximately $85.3 million, making it the firm's 25th largest position.
• RTX reported strong quarterly earnings, beating analyst expectations with an EPS of $1.56 and revenue of $21.58 billion, reflecting a year-over-year revenue increase of 9.4%.
• Analysts have given RTX a consensus target price of $158.67, with various upgrades from firms like Morgan Stanley and Benchmark, indicating a generally positive outlook on the stock.

Woodline Partners LP boosted its position in RTX Corporation (NYSE:RTX - Free Report) by 60.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 643,833 shares of the company's stock after buying an additional 242,745 shares during the quarter. RTX accounts for approximately 0.6% of Woodline Partners LP's holdings, making the stock its 25th biggest holding. Woodline Partners LP's holdings in RTX were worth $85,282,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Hamilton Capital LLC increased its position in RTX by 3.6% in the 1st quarter. Hamilton Capital LLC now owns 2,122 shares of the company's stock worth $281,000 after purchasing an additional 74 shares during the last quarter. ICW Investment Advisors LLC lifted its holdings in shares of RTX by 0.6% during the 1st quarter. ICW Investment Advisors LLC now owns 13,845 shares of the company's stock valued at $1,834,000 after buying an additional 77 shares during the last quarter. Apexium Financial LP grew its stake in shares of RTX by 2.2% in the 1st quarter. Apexium Financial LP now owns 3,629 shares of the company's stock valued at $481,000 after buying an additional 78 shares in the last quarter. Foster Victor Wealth Advisors LLC increased its holdings in RTX by 2.1% in the first quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock worth $505,000 after buying an additional 82 shares during the last quarter. Finally, Weatherly Asset Management L. P. raised its position in RTX by 0.4% during the first quarter. Weatherly Asset Management L. P. now owns 20,888 shares of the company's stock valued at $2,767,000 after acquiring an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Performance

Shares of RTX stock traded up $2.79 during trading on Thursday, reaching $157.79. The company's stock had a trading volume of 4,288,758 shares, compared to its average volume of 3,571,454. RTX Corporation has a one year low of $112.27 and a one year high of $161.26. 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 firm has a market cap of $211.21 billion, a price-to-earnings ratio of 34.68, a price-to-earnings-growth ratio of 2.86 and a beta of 0.67. The business's fifty day moving average price is $154.44 and its 200-day moving average price is $140.38.

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

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 15th were issued a $0.68 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. RTX's dividend payout ratio is 59.78%.

Analyst Ratings Changes

Several brokerages have recently commented on RTX. Barclays increased their price target on shares of RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. 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. Bank of America raised their target price on RTX from $150.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Wall Street Zen downgraded RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, Citigroup increased their price objective on RTX from $148.00 to $182.00 and gave the company a "buy" rating in a report on Monday, July 14th. Three 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $158.87.

Insider Buying and Selling

In related news, EVP Ramsaran Maharajh sold 1,462 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total value of $222,604.12. Following the completion of the sale, the executive vice president owned 13,184 shares in the company, valued at approximately $2,007,395.84. This trade represents a 9.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Troy D. Brunk sold 7,654 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total value of $1,187,900.80. Following the transaction, the insider owned 16,442 shares in the company, valued at $2,551,798.40. This represents a 31.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,635 shares of company stock worth $8,947,010. 0.15% of the stock is currently owned by corporate 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.