52,779 Shares in RTX Corporation $RTX Purchased by SCS Capital Management LLC

Key Points

• SCS Capital Management LLC acquired a stake in RTX Corporation by purchasing 52,779 shares valued at approximately $6.99 million in the 1st quarter of the year.
• RTX's stock recently saw a decline of 2.3%, with a current trading price of $153.97 amid a market cap of $206.09 billion.
• The company reported $1.56 earnings per share for its latest quarter, exceeding estimates and demonstrating a 9.4% increase in revenue compared to the same period last year.

SCS Capital Management LLC bought a new stake in shares of RTX Corporation (NYSE:RTX - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 52,779 shares of the company's stock, valued at approximately $6,991,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new position in shares of RTX during the 1st quarter valued at approximately $26,000. 10Elms LLP purchased a new position in shares of RTX during the 4th quarter valued at approximately $29,000. Summit Securities Group LLC bought a new stake in shares of RTX in the 1st quarter valued at approximately $40,000. McClarren Financial Advisors Inc. bought a new stake in shares of RTX in the 1st quarter valued at approximately $44,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of RTX in the 4th quarter valued at approximately $43,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on RTX shares. Royal Bank Of Canada reiterated an "outperform" rating and set a $170.00 target price (up previously from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their price objective on RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Wall Street Zen lowered RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Cowen restated a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Finally, The Goldman Sachs Group upped their price target 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. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $158.87.

RTX Trading Up 1.8%

RTX traded up $2.79 during trading on Thursday, reaching $157.79. The company had a trading volume of 4,288,758 shares, compared to its average volume of 3,571,454. The firm's 50-day simple moving average is $154.44 and its 200 day simple moving average is $140.38. The company has a market cap of $211.21 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 2.86 and a beta of 0.67. RTX Corporation has a 12-month low of $112.27 and a 12-month high of $161.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01.

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

RTX Dividend Announcement

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

Insider Activity

In other RTX news, insider Shane G. Eddy sold 25,968 shares of RTX stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Ramsaran Maharajh sold 1,462 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total value of $222,604.12. Following the completion of the sale, the executive vice president directly owned 13,184 shares of the company's stock, valued at approximately $2,007,395.84. This trade represents a 9.98% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,635 shares of company stock worth $8,947,010. 0.15% of the stock is owned by corporate insiders.

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.