State of Alaska Department of Revenue Decreases Stock Position in RTX Corporation $RTX

Key Points

• The State of Alaska Department of Revenue reduced its stake in RTX Corporation by 3.8% during the second quarter, bringing its holdings to 150,189 shares valued at approximately $21.93 million.
• Insider sales include Troy D. Brunk and VP Kevin G. Dasilva, who sold 7,654 and 8,704 shares respectively, reflecting a significant decrease in their ownership stakes.
• Research analysts have mixed ratings on RTX, with three analysts rating it as a Strong Buy and a target price ranging from $130.00 to $175.00, indicating a generally positive outlook for the stock.

State of Alaska Department of Revenue lowered its position in RTX Corporation (NYSE:RTX - Free Report) by 3.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 150,189 shares of the company's stock after selling 5,890 shares during the period. State of Alaska Department of Revenue's holdings in RTX were worth $21,930,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gries Financial LLC lifted its stake in RTX by 0.7% in the 2nd quarter. Gries Financial LLC now owns 9,780 shares of the company's stock worth $1,428,000 after purchasing an additional 69 shares in the last quarter. TrueWealth Advisors LLC lifted its position in RTX by 3.6% during 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 position in RTX by 3.6% during 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 raised its holdings in shares of RTX by 1.8% during the 2nd quarter. Verum Partners LLC now owns 4,093 shares of the company's stock worth $598,000 after acquiring an additional 73 shares during the period. Finally, Hamilton Capital LLC raised its holdings in shares of RTX by 3.6% during the 1st quarter. Hamilton Capital LLC now owns 2,122 shares of the company's stock worth $281,000 after acquiring an additional 74 shares during the period. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insider Transactions at RTX

In other RTX news, insider Troy D. Brunk sold 7,654 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the sale, the insider directly owned 16,442 shares in the company, valued at $2,551,798.40. This represents a 31.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kevin G. Dasilva sold 8,704 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the sale, the vice president directly owned 30,004 shares in the company, valued at approximately $4,686,624.80. The trade was a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,635 shares of company stock worth $8,947,010. 0.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on RTX shares. Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a report on Monday, July 21st. Barclays lifted their target price on shares of RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Bank of America lifted their price target on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Susquehanna lifted their price target on shares of RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $170.00 target price (up previously from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. 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 company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $158.87.

RTX Stock Up 1.9%

Shares of NYSE RTX opened at $163.50 on Friday. The firm has a market cap of $218.85 billion, a price-to-earnings ratio of 35.93, a PEG ratio of 2.96 and a beta of 0.67. 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 52-week low of $112.27 and a 52-week high of $165.35. The business's 50 day moving average is $156.93 and its two-hundred day moving average is $142.65.

RTX (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. The company had revenue of $21.58 billion for 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 firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.41 earnings per share. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Research analysts predict that RTX Corporation will post 6.11 EPS for the current year.

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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