T. Rowe Price Investment Management Inc. Sells 3,347,695 Shares of RTX Corporation $RTX

Key Points

• T. Rowe Price Investment Management Inc. has reduced its stake in RTX Corporation by 31.9% during the 1st quarter, now holding approximately 0.54% of the company worth $948.5 million.
• Despite the reduction in holdings, several hedge funds have recently increased their positions in RTX, indicating ongoing interest from institutional investors, who collectively own 86.50% of the company's stock.
• RTX reported a strong quarterly performance with earnings per share of $1.56, surpassing expectations, and has set FY 2025 guidance at $5.800-$5.950 EPS.

T. Rowe Price Investment Management Inc. lowered its stake in RTX Corporation (NYSE:RTX - Free Report) by 31.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,160,967 shares of the company's stock after selling 3,347,695 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 0.54% of RTX worth $948,542,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Bay Capital Advisors LLC bought a new stake in shares of RTX in the first quarter worth $224,000. Dynamic Advisor Solutions LLC increased its holdings in shares of RTX by 8.4% in the first quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company's stock valued at $4,591,000 after purchasing an additional 2,686 shares during the last quarter. Brookwood Investment Group LLC acquired a new position in shares of RTX in the first quarter valued at $1,288,000. Deutsche Bank AG grew its stake in shares of RTX by 46.0% in the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company's stock valued at $344,075,000 after acquiring an additional 936,953 shares in the last quarter. Finally, LBP AM SA grew its stake in shares of RTX by 17.7% in the first quarter. LBP AM SA now owns 279,179 shares of the company's stock valued at $36,980,000 after acquiring an additional 41,990 shares in the last quarter. Institutional investors own 86.50% of the company's stock.

Insider Transactions at RTX

In other news, insider Troy D. Brunk sold 7,654 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total value of $1,187,900.80. Following the sale, the insider directly 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 can be accessed through the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total transaction of $222,604.12. Following the completion of the sale, the executive vice president directly owned 13,184 shares in the company, valued at approximately $2,007,395.84. The trade was a 9.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,589 shares of company stock valued at $7,126,389. Company insiders own 0.15% of the company's stock.

RTX Stock Performance

NYSE RTX traded down $0.0530 during trading on Friday, hitting $156.2670. 4,250,914 shares of the company's stock traded hands, compared to its average volume of 4,034,675. The stock has a market capitalization of $209.17 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 2.88 and a beta of 0.69. RTX Corporation has a 12-month low of $112.27 and a 12-month high of $158.79. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The business has a 50 day moving average of $150.96 and a 200-day moving average of $137.34.

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

RTX Dividend Announcement

The company 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 $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.7%. RTX's payout ratio is 59.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RTX shares. The Goldman Sachs Group upped their price objective on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research report on Monday, June 23rd. Sanford C. Bernstein set a $154.00 target price on shares of RTX and gave the stock a "market perform" rating in a report on Friday, July 11th. Morgan Stanley upped their price objective on RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Citigroup increased their target price on shares of RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $170.00 target price (up previously from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $158.67.

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.