RTX Corporation $RTX Shares Sold by Amundi

Key Points

• Amundi reduced its stake in RTX Corporation by 29.3%, selling 1,843,400 shares, resulting in a total holding of 4,445,159 shares valued at approximately $578.9 million.
• RTX posted a strong earnings report with an EPS of $1.56, exceeding estimates and a year-over-year revenue increase of 9.4% to $21.58 billion.
• The company announced a quarterly dividend of $0.68 per share, representing a 1.7% yield with a payout ratio of 59.78%.

Amundi trimmed its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 29.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,445,159 shares of the company's stock after selling 1,843,400 shares during the period. Amundi owned 0.33% of RTX worth $578,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the business. MorganRosel Wealth Management LLC purchased a new position in RTX in the first quarter valued at approximately $26,000. 10Elms LLP purchased a new stake in shares of RTX during the 4th quarter worth approximately $29,000. Greenline Partners LLC acquired a new position in shares of RTX in the 4th quarter valued at $34,000. Summit Securities Group LLC purchased a new position in shares of RTX in the 1st quarter valued at $40,000. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of RTX in the 1st quarter valued at $44,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Performance

Shares of RTX opened at $157.91 on Wednesday. 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 stock has a market capitalization of $211.37 billion, a P/E ratio of 34.71, a P/E/G ratio of 2.92 and a beta of 0.67. The company's fifty day moving average is $152.78 and its two-hundred day moving average is $138.94. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $161.26.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $20.68 billion. During the same quarter last year, the business earned $1.41 EPS. The business's revenue was up 9.4% on a year-over-year basis. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. On average, sell-side analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be given a dividend of $0.68 per share. The ex-dividend date is Friday, August 15th. This represents a $2.72 annualized dividend and a yield of 1.7%. RTX's payout ratio is presently 59.78%.

Analysts Set New Price Targets

RTX has been the subject of several research analyst reports. Barclays upped their price objective on shares of RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Morgan Stanley upped their target price on RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 price target on the stock in a research report on Wednesday, May 14th. Citigroup boosted 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. Finally, Sanford C. Bernstein set a $154.00 target price on shares of RTX and gave the stock a "market perform" rating in a research report on Friday, July 11th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $158.67.

Insider Buying and Selling at RTX

In other news, insider Troy D. Brunk sold 7,654 shares of the firm's stock in a transaction that occurred on 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 sale, the insider directly owned 16,442 shares of the company's stock, valued at $2,551,798.40. This trade represents a 31.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kevin G. Dasilva sold 8,704 shares of RTX stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total value of $1,359,564.80. Following the completion of the sale, the vice president owned 30,004 shares in the company, valued at approximately $4,686,624.80. This trade represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,635 shares of company stock worth $8,947,010. 0.15% of the stock is currently owned by company insiders.

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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