Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stock Position in RTX Corporation $RTX

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in RTX Corporation by 4.3%, now holding a total of 164,639 shares valued at approximately $24 million.
• Insiders have sold a total of 56,635 shares of RTX stock in the past 90 days, with significant sales made by executives Ramsaran Maharajh and Philip J. Jasper.
• RTX reported earnings per share of $1.56 for the last quarter, exceeding analysts' expectations and demonstrating a year-over-year revenue growth of 9.4%.

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 4.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 164,639 shares of the company's stock after buying an additional 6,786 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in RTX were worth $24,041,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of RTX. Nuveen LLC purchased a new position in shares of RTX during the first quarter valued at approximately $916,739,000. GAMMA Investing LLC boosted its position in shares of RTX by 14,838.5% during the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock valued at $551,460,000 after buying an additional 4,135,349 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of RTX by 28.0% during the first quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company's stock valued at $845,784,000 after buying an additional 1,394,918 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of RTX by 1.1% during the first quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock valued at $15,873,541,000 after buying an additional 1,357,328 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its position in shares of RTX by 1,178.2% during the first quarter. 1832 Asset Management L.P. now owns 1,212,353 shares of the company's stock valued at $160,588,000 after buying an additional 1,117,506 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on RTX. UBS Group lifted their price target on RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a report on Monday, July 21st. Wall Street Zen lowered RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Citigroup lifted their price target on RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, Bank of America lifted their price target on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Three 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $158.87.

RTX Stock Performance

Shares of NYSE:RTX traded up $1.34 during midday trading on Monday, reaching $159.58. 3,294,972 shares of the company traded hands, compared to its average volume of 3,943,100. 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 12 month low of $112.27 and a 12 month high of $161.26. The firm has a market capitalization of $213.60 billion, a price-to-earnings ratio of 35.07, a price-to-earnings-growth ratio of 2.92 and a beta of 0.67. The firm's fifty day moving average price is $156.07 and its two-hundred day moving average price is $141.92.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data 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. RTX had a return on equity of 12.89% and a net margin of 7.35%.The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same period in the previous year, the company posted $1.41 EPS. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. On average, equities analysts expect that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

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

Insiders Place Their Bets

In other RTX news, VP Kevin G. Dasilva sold 8,704 shares of the company's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $156.20, for a total value of $1,359,564.80. Following the transaction, the vice president directly owned 30,004 shares in the company, valued at $4,686,624.80. This represents a 22.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Philip J. Jasper sold 12,847 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $157.82, for a total value of $2,027,513.54. Following the completion of the transaction, the insider owned 17,684 shares in the company, valued at $2,790,888.88. This represents a 42.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,635 shares of company stock worth $8,947,010. 0.15% of the stock is owned by corporate insiders.

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.