RTX Corporation $RTX Shares Sold by Parsons Capital Management Inc. RI

Key Points

• Parsons Capital Management Inc. RI has reduced its stake in RTX Corporation by 57.6%, owning 51,513 shares after selling 70,007 shares in the second quarter.
• Despite Parsons Capital's reduction, other investors like Pure Financial Advisors LLC and RKL Wealth Management LLC have increased their stakes in RTX during the same period.
• RTX reported a quarterly earnings per share (EPS) of $1.56, beating analyst estimates of $1.45 and also achieved a revenue of $21.58 billion, surpassing expectations of $20.68 billion.

Parsons Capital Management Inc. RI reduced its position in RTX Corporation (NYSE:RTX - Free Report) by 57.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,513 shares of the company's stock after selling 70,007 shares during the period. Parsons Capital Management Inc. RI's holdings in RTX were worth $7,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Pure Financial Advisors LLC lifted its stake in shares of RTX by 149.8% in the 2nd quarter. Pure Financial Advisors LLC now owns 42,489 shares of the company's stock valued at $6,204,000 after purchasing an additional 25,479 shares during the period. RKL Wealth Management LLC raised its position in RTX by 8.6% during the second quarter. RKL Wealth Management LLC now owns 2,704 shares of the company's stock worth $395,000 after acquiring an additional 214 shares during the period. Consolidated Planning Corp raised its position in RTX by 0.3% during the second quarter. Consolidated Planning Corp now owns 34,857 shares of the company's stock worth $5,090,000 after acquiring an additional 98 shares during the period. Cantor Fitzgerald Investment Advisors L.P. raised its position in RTX by 0.6% during the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 138,790 shares of the company's stock worth $20,266,000 after acquiring an additional 854 shares during the period. Finally, Woodward Diversified Capital LLC raised its position in RTX by 11.0% during the second quarter. Woodward Diversified Capital LLC now owns 5,656 shares of the company's stock worth $826,000 after acquiring an additional 560 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Price Performance

Shares of NYSE RTX opened at $167.37 on Thursday. The firm has a 50-day simple moving average of $157.75 and a 200-day simple moving average of $143.42. The stock has a market capitalization of $224.03 billion, a price-to-earnings ratio of 36.78, a price-to-earnings-growth ratio of 3.08 and a beta of 0.66. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $168.28.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. The business had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 earnings per share. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. On average, equities analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

Insider Transactions at RTX

In related news, insider Shane G. Eddy sold 25,968 shares of the company's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $159.79, for a total value of $4,149,426.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Troy D. Brunk sold 7,654 shares of the company's 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 directly owned 16,442 shares of the company's stock, valued at $2,551,798.40. This represents a 31.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,635 shares of company stock valued at $8,947,010 in the last three months. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RTX shares. UBS Group upped their price objective on shares of RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Susquehanna upped their price objective on shares of RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Citigroup upped their price objective on shares of RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Sanford C. Bernstein upped their price objective on shares of RTX from $154.00 to $157.00 and gave the stock a "market perform" rating in a research report on Wednesday, September 10th. Finally, Bank of America upped their price objective on shares of RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, RTX has a consensus rating of "Moderate Buy" and a consensus price target of $158.87.

RTX Company 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.

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