RTX Corporation $RTX Shares Sold by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC reduced its holdings in RTX Corporation by 91.4% in the second quarter, ending the period with 8,921 shares valued at approximately $1.3 million.
• RTX reported $1.56 earnings per share for the last quarter, beating the consensus estimate of $1.45, with revenue of $21.58 billion.
• The company recently declared a quarterly dividend of $0.68, representing an annualized dividend yield of 1.7%.

Exchange Traded Concepts LLC decreased its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 91.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,921 shares of the company's stock after selling 95,409 shares during the quarter. Exchange Traded Concepts LLC's holdings in RTX were worth $1,303,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new stake in RTX in the first quarter valued at approximately $26,000. Summit Securities Group LLC acquired a new position in shares of RTX in the first 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. Capital A Wealth Management LLC acquired a new position in shares of RTX in the fourth quarter valued at approximately $45,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of RTX in the first quarter valued at approximately $50,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Performance

Shares of RTX stock opened at $159.58 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $161.26. The stock's 50-day moving average is $156.07 and its two-hundred day moving average is $141.92. The firm has a market cap of $213.60 billion, a P/E ratio of 35.07, a PEG ratio of 2.92 and a beta of 0.67.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.11. The company 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 business's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.41 EPS. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RTX shares. Morgan Stanley boosted their target price on RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Barclays increased their target price on RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. increased their target price on RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Wall Street Zen downgraded RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Citigroup raised their price objective on RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $158.87.

Insiders Place Their Bets

In other news, insider Philip J. Jasper sold 12,847 shares of the firm's stock in a transaction 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 transaction, the insider directly owned 17,684 shares in the company, valued at $2,790,888.88. This trade represents a 42.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $4,149,426.72. The disclosure for this sale can be found here. Insiders sold 56,635 shares of company stock worth $8,947,010 over the last three months. Insiders own 0.15% of the company's stock.

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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