RTX Corporation $RTX Shares Sold by Harbour Investment Management LLC

Key Points

• Harbour Investment Management LLC reduced its stake in RTX Corporation by 8.4%, owning 24,089 shares, valued at approximately $3.5 million.
• A number of analysts raised their price targets for RTX, with Susquehanna setting it at $205, and the consensus rating being a "Moderate Buy" with an average price target of $175.80.
• Insider trading activity was reported, with notable sales by Troy D. Brunk and Philip J. Jasper, resulting in a total sale of 46,469 shares valued at about $7.36 million over the last 90 days.

Harbour Investment Management LLC lessened its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 8.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,089 shares of the company's stock after selling 2,215 shares during the period. RTX makes up approximately 1.5% of Harbour Investment Management LLC's portfolio, making the stock its 17th biggest holding. Harbour Investment Management LLC's holdings in RTX were worth $3,518,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RTX. MorganRosel Wealth Management LLC acquired a new position in shares of RTX during the 1st quarter worth $26,000. PFS Partners LLC boosted its holdings in RTX by 101.1% during the second quarter. PFS Partners LLC now owns 177 shares of the company's stock worth $26,000 after buying an additional 89 shares in the last quarter. Summit Securities Group LLC acquired a new position in RTX during the first quarter worth about $40,000. McClarren Financial Advisors Inc. purchased a new position in RTX in the first quarter valued at about $44,000. Finally, Briaud Financial Planning Inc increased its holdings in RTX by 25.4% in the second quarter. Briaud Financial Planning Inc now owns 321 shares of the company's stock valued at $46,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Susquehanna upped their price target on RTX from $175.00 to $205.00 and gave the stock a "positive" rating in a report on Wednesday. JPMorgan Chase & Co. boosted 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. Bank of America upped 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. Citigroup lifted their price target on RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Finally, The Goldman Sachs Group increased their price objective on shares of RTX from $151.00 to $168.00 and gave the company a "neutral" rating in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $175.80.

Insider Activity

In related news, insider Troy D. Brunk sold 7,654 shares of the company's stock in a transaction that occurred on 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 transaction, the insider owned 16,442 shares of the company's stock, valued at approximately $2,551,798.40. This represents a 31.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Philip J. Jasper sold 12,847 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the sale, the insider owned 17,684 shares in the company, valued at approximately $2,790,888.88. This trade represents a 42.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,469 shares of company stock valued at $7,364,841 over the last 90 days. Insiders own 0.15% of the company's stock.

RTX Stock Performance

NYSE RTX opened at $179.33 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.07 and a debt-to-equity ratio of 0.58. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $179.98. The business has a fifty day moving average of $160.59 and a 200-day moving average of $147.14. The stock has a market cap of $240.45 billion, a price-to-earnings ratio of 36.82, a price-to-earnings-growth ratio of 3.23 and a beta of 0.66.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $1.70 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.29. The firm had revenue of $22.48 billion during the quarter, compared to analysts' expectations of $21.26 billion. RTX had a return on equity of 13.28% and a net margin of 7.67%.The firm's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.45 EPS. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. As a group, analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

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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