Second Line Capital LLC Buys New Position in RTX Corporation $RTX

Key Points

• Second Line Capital LLC invested approximately $214,000 in RTX Corporation by purchasing 1,618 shares, marking a new position for the firm in the first quarter.
• Insider transactions at RTX show significant selling activity, including Philip J. Jasper and Troy D. Brunk, who sold shares worth over $3 million combined, indicating a decrease in their ownership stakes.
• Analysts have been bullish on RTX, with several firms upgrading their ratings and target prices, resulting in a consensus rating of "Moderate Buy" and an average target price of $158.67.

Second Line Capital LLC bought a new position in shares of RTX Corporation (NYSE:RTX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,618 shares of the company's stock, valued at approximately $214,000.

Several other large investors also recently made changes to their positions in RTX. Nuveen LLC bought a new position in RTX in the first quarter valued at about $916,739,000. GAMMA Investing LLC lifted its holdings in shares of RTX by 14,838.5% during the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock valued at $551,460,000 after purchasing an additional 4,135,349 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of RTX by 28.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company's stock valued at $845,784,000 after purchasing an additional 1,394,918 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of RTX by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock valued at $15,873,541,000 after purchasing an additional 1,357,328 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new stake in RTX in the 4th quarter valued at approximately $138,585,000. Institutional investors own 86.50% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on RTX. Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a report on Monday, July 21st. UBS Group lifted their price objective on shares of RTX from $166.00 to $177.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Barclays lifted their price objective on shares of RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. The Goldman Sachs Group lifted their price objective on shares of RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a report on Monday, June 23rd. Finally, Bank of America lifted their price objective on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $158.67.

RTX Price Performance

NYSE:RTX traded down $0.69 during trading hours on Tuesday, hitting $157.91. The company's stock had a trading volume of 3,259,056 shares, compared to its average volume of 3,604,400. The stock has a fifty day simple moving average of $152.45 and a 200-day simple moving average of $138.81. The company has a market capitalization of $211.37 billion, a P/E ratio of 26.35, a PEG ratio of 2.92 and a beta of 0.67. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $161.26.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results 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 return on equity of 12.89% and a net margin of 7.35%.The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. During the same period last year, the company 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. On average, analysts anticipate that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

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

Insider Buying and Selling at RTX

In related news, insider Philip J. Jasper sold 12,847 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the insider owned 17,684 shares of the company's stock, valued at $2,790,888.88. This trade represents a 42.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Shane G. Eddy sold 25,968 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $159.79, for a total value of $4,149,426.72. The disclosure for this sale can be found here. Insiders have sold a total of 56,635 shares of company stock valued at $8,947,010 over the last ninety days. Insiders own 0.15% of the company's stock.

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.