Ieq Capital LLC Sells 3,099 Shares of RTX Corporation $RTX

Key Points

• Ieq Capital LLC reduced its stake in RTX Corporation by 3.5%, selling 3,099 shares, leaving it with 86,431 shares valued at approximately $11.4 million.
• Despite the minor reduction from Ieq Capital, institutional investors hold 86.50% of RTX's stock, indicating strong institutional support for the company.
• RTX recently announced a quarterly dividend of $0.68, with a payout ratio of 59.78%, reflecting ongoing profitability and commitment to returning value to shareholders.

Ieq Capital LLC cut its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 3.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 86,431 shares of the company's stock after selling 3,099 shares during the period. Ieq Capital LLC's holdings in RTX were worth $11,449,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Nuveen LLC bought a new stake in RTX in the first quarter worth $916,739,000. GAMMA Investing LLC increased its position in RTX by 14,838.5% in the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock worth $551,460,000 after buying an additional 4,135,349 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in RTX by 28.0% during the first quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company's stock valued at $845,784,000 after buying an additional 1,394,918 shares during the last quarter. Vanguard Group Inc. boosted its stake in RTX by 1.1% during the first quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock valued at $15,873,541,000 after buying an additional 1,357,328 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new stake in shares of RTX in the 4th quarter valued at approximately $138,585,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RTX shares. The Goldman Sachs Group raised their price objective on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research report on Monday, June 23rd. JPMorgan Chase & Co. boosted their target price on RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a 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 report on Wednesday, July 23rd. Wall Street Zen lowered shares of RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $170.00 price target (up previously from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $158.67.

Insider Activity

In other news, VP Kevin G. Dasilva sold 8,704 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The stock was 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 directly owned 30,004 shares of the company's stock, valued at $4,686,624.80. This trade represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Shane G. Eddy sold 25,968 shares of RTX stock in a transaction on Wednesday, August 27th. The shares were 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. In the last ninety days, insiders sold 56,635 shares of company stock valued at $8,947,010. Corporate insiders own 0.15% of the company's stock.

RTX Stock Down 0.5%

Shares of RTX stock traded down $0.73 during trading on Tuesday, hitting $157.87. 964,159 shares of the stock traded hands, compared to its average volume of 5,178,367. The stock has a market cap of $211.32 billion, a P/E ratio of 34.71, a PEG ratio of 2.92 and a beta of 0.67. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $161.26. The company has a fifty day moving average price of $152.45 and a two-hundred day moving average price of $138.81.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly 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. The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%.The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.41 EPS. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Equities research analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

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

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.