SteelPeak Wealth LLC Grows Holdings in RTX Corporation $RTX

Key Points

• SteelPeak Wealth LLC increased its holdings in RTX Corporation by 329.9% in Q2, owning 23,689 shares worth approximately $3.46 million.
• RTX reported earnings of $1.56 per share for the last quarter, exceeding estimates, with revenues reaching $21.58 billion, up 9.4% year-over-year.
• Several hedge funds enhanced their positions in RTX, indicating strong institutional interest, with 86.50% of the stock currently held by such investors.

SteelPeak Wealth LLC increased its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 329.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,689 shares of the company's stock after purchasing an additional 18,179 shares during the quarter. SteelPeak Wealth LLC's holdings in RTX were worth $3,459,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RTX. MorganRosel Wealth Management LLC purchased a new position in RTX during the first quarter worth about $26,000. PFS Partners LLC raised its position in RTX by 101.1% in the second quarter. PFS Partners LLC now owns 177 shares of the company's stock worth $26,000 after acquiring an additional 89 shares during the period. Summit Securities Group LLC bought a new stake in RTX in the first quarter worth about $40,000. McClarren Financial Advisors Inc. bought a new stake in RTX in the first quarter worth about $44,000. Finally, Financial Gravity Asset Management Inc. bought a new stake in RTX in the first quarter worth about $50,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Performance

NYSE RTX opened at $169.03 on Tuesday. The company's 50 day moving average is $158.44 and its 200-day moving average is $144.27. RTX Corporation has a 12-month low of $112.27 and a 12-month high of $169.75. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The firm has a market cap of $226.25 billion, a P/E ratio of 37.15, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 7.35% and a return on equity of 12.89%. The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous 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 predict that RTX Corporation will post 6.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on RTX shares. The Goldman Sachs Group lifted their price objective 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. Sanford C. Bernstein lifted their price objective on shares of RTX from $157.00 to $181.00 and gave the stock a "market perform" rating in a research report on Monday. Barclays lifted their price objective on shares of RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Wall Street Zen lowered shares of RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Jefferies Financial Group reissued a "hold" rating on shares of RTX in a research report on Monday, July 21st. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, RTX has a consensus rating of "Moderate Buy" and a consensus target price of $160.47.

Insider Buying and Selling 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 shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the sale, the executive vice president owned 13,184 shares of the company's stock, valued at approximately $2,007,395.84. This represents a 9.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Philip J. Jasper sold 12,847 shares of the company'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 sale, the insider directly owned 17,684 shares in the company, valued at $2,790,888.88. This trade represents a 42.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,635 shares of company stock worth $8,947,010 in the last ninety days. Insiders own 0.15% of the company's stock.

RTX Company 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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