RTX Corporation $RTX Shares Sold by Puzo Michael J

Key Points

• Puzo Michael J cut its RTX stake by 8.5% in the first quarter, selling 6,586 shares and ending with 70,659 shares worth about $13.63 million.
• RTX continues to benefit from positive business momentum, including a $1 billion Pratt & Whitney sustainment contract and new engine wins from British Airways and Jackson Square Aviation.
• The company recently beat earnings expectations, reporting $1.78 EPS on $22.08 billion in revenue, while analysts still view the stock as a Moderate Buy with an average price target of $211.38.

Puzo Michael J reduced its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 8.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,659 shares of the company's stock after selling 6,586 shares during the quarter. RTX accounts for approximately 4.0% of Puzo Michael J's investment portfolio, making the stock its 7th biggest holding. Puzo Michael J's holdings in RTX were worth $13,630,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of RTX. Navalign LLC acquired a new position in RTX in the 4th quarter worth about $25,000. Commonwealth Retirement Investments LLC acquired a new stake in RTX in the fourth quarter valued at approximately $26,000. Core Wealth Advisors LLC acquired a new stake in RTX in the fourth quarter valued at approximately $31,000. 1 North Wealth Services LLC increased its position in shares of RTX by 456.7% in the fourth quarter. 1 North Wealth Services LLC now owns 167 shares of the company's stock valued at $31,000 after buying an additional 137 shares in the last quarter. Finally, Evergreen Advisors LLC purchased a new stake in shares of RTX in the first quarter valued at approximately $31,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

More RTX News

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Pratt & Whitney won a nine-year, $1 billion sustainment contract to overhaul more than 750 PT6A-68 engines for the U.S. JPATS T-6 trainer fleet, adding to RTX’s long-term defense revenue visibility. Article Title
• Positive Sentiment: British Airways selected RTX’s Pratt & Whitney GTF engines to power up to 63 Airbus A320neo aircraft, including a 12-year maintenance agreement, boosting the outlook for RTX’s commercial engines and services backlog. Article Title
• Positive Sentiment: Jackson Square Aviation also chose Pratt & Whitney GTF engines for an undisclosed number of Airbus A320neo jets, reinforcing demand for RTX’s geared-turbofan platform at the Farnborough Airshow. Article Title
• Positive Sentiment: Pratt & Whitney completed successful testing of its 3D-printed TJ150 engine, highlighting manufacturing innovation and potential efficiency gains. Article Title
• Neutral Sentiment: Analysts are reviewing RTX’s Q2 metric projections ahead of earnings, which keeps attention on whether the company can match or exceed expectations. Article Title
• Neutral Sentiment: RTX was mentioned as one of several drone-tech names to watch as adoption rises, but the piece is more sector-focused than a direct company-specific catalyst. Article Title
• Positive Sentiment: RTX also picked up additional attention from Boeing/Airbus Farnborough deal activity, which underscores a healthy commercial aerospace backdrop for its engine business. Article Title

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wells Fargo & Company initiated coverage on RTX in a research report on Wednesday, April 1st. They set an "equal weight" rating and a $200.00 target price on the stock. Morgan Stanley cut their price target on shares of RTX from $235.00 to $220.00 and set an "overweight" rating for the company in a report on Wednesday, April 22nd. Erste Group Bank cut shares of RTX from a "buy" rating to a "hold" rating in a research report on Monday, April 27th. UBS Group decreased their price objective on shares of RTX from $209.00 to $199.00 and set a "neutral" rating on the stock in a report on Wednesday, April 22nd. Finally, Citigroup reiterated a "buy" rating on shares of RTX in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $211.38.

RTX Stock Performance

NYSE RTX opened at $194.64 on Tuesday. The company has a market cap of $262.12 billion, a PE ratio of 36.52, a price-to-earnings-growth ratio of 2.65 and a beta of 0.30. The stock's 50 day simple moving average is $184.95 and its 200-day simple moving average is $191.74. RTX Corporation has a 1-year low of $143.56 and a 1-year high of $214.50. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.02 and a quick ratio of 0.78.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.52 by $0.26. RTX had a return on equity of 13.50% and a net margin of 8.03%.The firm had revenue of $22.08 billion during the quarter, compared to analysts' expectations of $21.38 billion. During the same period in the previous year, the business earned $1.47 earnings per share. The firm's revenue for the quarter was up 8.7% on a year-over-year basis. As a group, equities research analysts anticipate that RTX Corporation will post 6.92 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Friday, August 14th will be paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 14th. RTX's payout ratio is 54.78%.

About RTX

RTX NYSE: RTX is a U.S.-based aerospace and defense company that designs, manufactures and services advanced systems for commercial, military and governmental customers worldwide. The company was created through the 2020 combination of Raytheon Company and United Technologies Corporation and later adopted the RTX name, positioning itself as a diversified provider across the aerospace and defense value chain.

RTX's operations span a broad set of capabilities. Its commercial aerospace businesses include Pratt & Whitney aircraft engines and Collins Aerospace systems, which supply propulsion, avionics, aerostructures, interiors and integrated aircraft systems.

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