Gabelli Funds LLC Sells 3,130 Shares of RTX Corporation $RTX

Key Points

• Gabelli Funds LLC has reduced its stake in RTX Corporation by 5.9%, owning 50,014 shares worth approximately $6.63 million after selling 3,130 shares in the first quarter.
• Analysts are optimistic about RTX, with a consensus target price of $158.67, as multiple firms have upgraded the stock and set higher price targets.
• RTX announced a quarterly dividend of $0.68 per share, offering a 1.7% dividend yield for stockholders of record by August 15th.

Gabelli Funds LLC decreased its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 5.9% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 50,014 shares of the company's stock after selling 3,130 shares during the period. Gabelli Funds LLC's holdings in RTX were worth $6,625,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In related news, insider Troy D. Brunk sold 7,654 shares of RTX stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the completion of the sale, the insider owned 16,442 shares of the company's stock, valued at approximately $2,551,798.40. The trade was a 31.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Kevin G. Dasilva sold 8,704 shares of the business's 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 of the company's stock, 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. Insiders sold 56,635 shares of company stock valued at $8,947,010 over the last ninety days. Insiders own 0.15% of the company's stock.

RTX Price Performance

RTX stock traded down $0.70 during trading on Tuesday, hitting $157.90. The company had a trading volume of 1,622,016 shares, compared to its average volume of 5,183,005. The company has a fifty day moving average price of $152.45 and a two-hundred day moving average price of $138.81. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $161.26. The company has a market cap of $211.36 billion, a P/E ratio of 34.72, a P/E/G ratio of 2.92 and a beta of 0.67.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%.The firm had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $20.68 billion. During the same period last year, the firm posted $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. Equities research analysts expect that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 15th. RTX's dividend payout ratio (DPR) is currently 59.78%.

Analyst Ratings Changes

RTX has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their price target on RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a report on Monday, June 23rd. Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a report on Monday, July 21st. Morgan Stanley boosted their target price on RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Susquehanna raised their price objective on shares of RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $170.00 target price (up previously from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Three investment 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's stock. According to data from MarketBeat, RTX currently has a consensus rating of "Moderate Buy" and an average target price of $158.67.

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.