RTX Corporation $RTX Shares Sold by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP significantly reduced its stake in RTX Corporation by 92.7%, now holding only 2,061 shares after selling 26,020 shares during the first quarter.
• RTX recently reported a quarterly earnings per share (EPS) of $1.56, exceeding analysts' expectations of $1.45, and posted revenue of $21.58 billion, up 9.4% year-over-year.
• The company declared a quarterly dividend of $0.68 per share, to be paid on September 4th, representing a 1.7% yield and a payout ratio of 59.78%.

Quantbot Technologies LP reduced its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 92.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,061 shares of the company's stock after selling 26,020 shares during the quarter. Quantbot Technologies LP's holdings in RTX were worth $273,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. MorganRosel Wealth Management LLC acquired a new stake in shares of RTX during the first quarter worth approximately $26,000. 10Elms LLP acquired a new stake in shares of RTX during the fourth quarter worth approximately $29,000. Greenline Partners LLC acquired a new stake in shares of RTX during the fourth quarter worth approximately $34,000. Summit Securities Group LLC acquired a new stake in shares of RTX during the first quarter worth approximately $40,000. Finally, McClarren Financial Advisors Inc. acquired a new stake in shares of RTX during the first quarter worth approximately $44,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RTX shares. JPMorgan Chase & Co. raised their price target on shares of RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Wall Street Zen cut RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a research note on Wednesday, May 14th. Sanford C. Bernstein set a $154.00 price objective on RTX and gave the stock a "market perform" rating in a research note on Friday, July 11th. Finally, Morgan Stanley raised their price objective on RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $158.67.

RTX Stock Performance

RTX stock traded down $0.69 during mid-day trading on Tuesday, reaching $157.91. The company had a trading volume of 3,259,056 shares, compared to its average volume of 3,604,400. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $211.37 billion, a P/E ratio of 34.71, a P/E/G ratio of 2.92 and a beta of 0.67. RTX Corporation has a one year low of $112.27 and a one year high of $161.26. The stock's 50-day simple moving average is $152.78 and its two-hundred day simple moving average is $138.94.

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

RTX Announces Dividend

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

Insider Activity at RTX

In other news, insider Philip J. Jasper sold 12,847 shares of the firm's stock in a transaction 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 transaction, the insider directly owned 17,684 shares of the company's stock, valued at approximately $2,790,888.88. This trade represents a 42.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total value of $222,604.12. Following the transaction, the executive vice president directly owned 13,184 shares in the company, valued at $2,007,395.84. This trade represents a 9.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 56,635 shares of company stock valued at $8,947,010. 0.15% of the stock is owned by corporate insiders.

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.