Sovran Advisors LLC Has $633,000 Stake in RTX Corporation $RTX

Key Points

• Sovran Advisors LLC increased its stake in RTX Corporation by 137.5% in the second quarter, bringing its total holdings to 4,367 shares valued at approximately $633,000.
• Insider transactions revealed significant sales, with VP Kevin G. Dasilva selling 8,704 shares for about $1.36 million, resulting in a decrease of 22.49% in his position.
• RTX reported a quarterly earnings per share of $1.56, exceeding expectations, with a net revenue of $21.58 billion, marking a 9.4% increase compared to the same quarter last year.

Sovran Advisors LLC raised its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 137.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,367 shares of the company's stock after purchasing an additional 2,528 shares during the period. Sovran Advisors LLC's holdings in RTX were worth $633,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RTX. MorganRosel Wealth Management LLC acquired a new position in RTX during the first quarter valued at approximately $26,000. Summit Securities Group LLC acquired a new position in RTX during the first quarter valued at approximately $40,000. McClarren Financial Advisors Inc. acquired a new position in RTX during the first quarter valued at approximately $44,000. Capital A Wealth Management LLC acquired a new position in RTX during the fourth quarter valued at approximately $45,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in RTX during the first quarter valued at approximately $50,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at RTX

In other news, VP Kevin G. Dasilva sold 8,704 shares of the stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the transaction, the vice president owned 30,004 shares of the company's stock, valued at $4,686,624.80. This represents a 22.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction, the executive vice president directly owned 13,184 shares in the company, valued at $2,007,395.84. This trade represents a 9.98% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,635 shares of company stock worth $8,947,010. 0.15% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Sanford C. Bernstein boosted their price objective on shares of RTX from $154.00 to $157.00 and gave the company a "market perform" rating in a research report on Wednesday, September 10th. Morgan Stanley upped their price target on shares of RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. UBS Group upped their price target on shares of RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Wall Street Zen downgraded shares of RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a report on Monday, July 21st. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $158.87.

RTX Stock Performance

Shares of RTX stock opened at $158.22 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $161.26. The stock has a market cap of $211.78 billion, a price-to-earnings ratio of 34.77, a P/E/G ratio of 2.92 and a beta of 0.67. The company's fifty day moving average is $155.86 and its 200 day moving average is $141.53.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. The business had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. 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. Sell-side analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

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

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.

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