Rafferty Asset Management LLC Has $33.20 Million Holdings in RTX Corporation $RTX

Key Points

• Rafferty Asset Management LLC reduced its holdings in RTX Corporation by 16.9%, owning 250,665 shares worth approximately $33.2 million after selling 51,099 shares.
• Insider sales included EVP Ramsaran Maharajh and insider Troy D. Brunk, who sold shares representing significant decreases in their positions of 9.98% and 31.76%, respectively.
• RTX's quarterly earnings surpassed estimates, reporting a revenue of $21.58 billion and earnings per share of $1.56, with a net margin of 7.35%.

Rafferty Asset Management LLC cut its stake in RTX Corporation (NYSE:RTX - Free Report) by 16.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 250,665 shares of the company's stock after selling 51,099 shares during the period. Rafferty Asset Management LLC's holdings in RTX were worth $33,203,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Nuveen LLC acquired a new position in RTX during the 1st quarter worth $916,739,000. GAMMA Investing LLC lifted its stake in shares of RTX by 14,838.5% during the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock valued at $551,460,000 after acquiring an additional 4,135,349 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of 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 acquiring an additional 1,394,918 shares during the period. Vanguard Group Inc. boosted its holdings in RTX by 1.1% in the first quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock valued at $15,873,541,000 after acquiring an additional 1,357,328 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new stake in RTX in the fourth quarter worth about $138,585,000. 86.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Troy D. Brunk sold 7,654 shares of the firm's stock in a transaction on 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 completion of the transaction, the insider owned 16,442 shares of the company's stock, valued at approximately $2,551,798.40. This trade represents a 31.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $4,149,426.72. The disclosure for this sale can be found here. Insiders have sold 73,557 shares of company stock valued at $11,275,816 in the last quarter. Company insiders own 0.15% of the company's stock.

RTX Trading Up 0.6%

Shares of RTX stock traded up $0.92 during trading hours on Thursday, hitting $160.76. The company's stock had a trading volume of 3,116,368 shares, compared to its average volume of 3,918,701. The company has a market capitalization of $215.18 billion, a PE ratio of 35.33, a price-to-earnings-growth ratio of 2.95 and a beta of 0.69. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The stock has a 50 day moving average of $151.96 and a 200 day moving average of $138.18. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $161.26.

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

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a $0.68 dividend. 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 payout ratio is currently 59.78%.

Wall Street Analysts Forecast Growth

RTX has been the topic of several recent research reports. Bank of America raised their target price on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Benchmark raised shares of 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. Wall Street Zen lowered shares of RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Susquehanna increased their price target on RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd. Finally, Jefferies Financial Group restated a "hold" rating on shares of RTX in a research report on Monday, July 21st. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $158.67.

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.