Shell Asset Management Co. Purchases 17,019 Shares of RTX Corporation $RTX

Key Points

• Shell Asset Management Co. increased its stake in RTX Corporation by 79.1%, owning a total of 38,523 shares valued at approximately $5.625 million.
• RTX reported a quarterly earnings per share of $1.56, exceeding analysts' expectations of $1.45, with revenue of $21.58 billion.
• The stock has an average rating of Moderate Buy from analysts, with a target price of $160.47, following recent adjustments from several investment firms.

Shell Asset Management Co. increased its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 79.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,523 shares of the company's stock after acquiring an additional 17,019 shares during the quarter. Shell Asset Management Co.'s holdings in RTX were worth $5,625,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Gries Financial LLC increased its position in shares of RTX by 0.7% during the second quarter. Gries Financial LLC now owns 9,780 shares of the company's stock valued at $1,428,000 after buying an additional 69 shares during the period. TrueWealth Advisors LLC lifted its holdings in shares of RTX by 3.6% in the second quarter. TrueWealth Advisors LLC now owns 2,007 shares of the company's stock worth $293,000 after buying an additional 70 shares in the last quarter. RMR Wealth Builders lifted its holdings in shares of RTX by 3.6% in the second quarter. RMR Wealth Builders now owns 2,036 shares of the company's stock worth $297,000 after buying an additional 70 shares in the last quarter. Verum Partners LLC increased its position in shares of RTX by 1.8% in the second quarter. Verum Partners LLC now owns 4,093 shares of the company's stock worth $598,000 after purchasing an additional 73 shares during the last quarter. Finally, Hamilton Capital LLC increased its position in shares of RTX by 3.6% in the first quarter. Hamilton Capital LLC now owns 2,122 shares of the company's stock worth $281,000 after purchasing an additional 74 shares during the last quarter. Institutional investors own 86.50% of the company's stock.

RTX Stock Performance

NYSE:RTX opened at $169.03 on Tuesday. The firm has a market cap of $226.25 billion, a PE ratio of 37.15, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $169.75. 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 price of $158.44 and a 200-day moving average price of $144.27.

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 analysts' consensus estimates of $1.45 by $0.11. The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%.The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.41 earnings per share. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Equities research analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wall Street Zen cut shares of RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Morgan Stanley upped their price objective on shares of RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $170.00 target price (up previously from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Barclays upped their target price on RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Finally, Bank of America upped their target price on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $160.47.

Insider Activity at RTX

In related news, EVP Ramsaran Maharajh sold 1,462 shares of the company's stock in a transaction that occurred on 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 transaction, the executive vice president owned 13,184 shares in the company, valued at $2,007,395.84. This represents a 9.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Troy D. Brunk sold 7,654 shares of the company's stock in a transaction that occurred 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 transaction, the insider owned 16,442 shares of the company's stock, valued at approximately $2,551,798.40. This represents a 31.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,635 shares of company stock valued at $8,947,010 over the last 90 days. Company 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.

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