TCV Trust & Wealth Management Inc. Sells 1,778 Shares of RTX Corporation $RTX

Key Points

• TCV Trust & Wealth Management Inc. reduced its holding in RTX Corporation by 13.3%, selling 1,778 shares to now own 11,612 shares, valued at approximately $1.7 million.
• Analysts have very positive coverage of RTX, with price targets raised by institutions such as Bank of America and JPMorgan Chase, indicating continued investor confidence.
• RTX's recent earnings report showed $1.56 earnings per share, exceeding analyst expectations and reflecting a 9.4% revenue increase year-over-year.

TCV Trust & Wealth Management Inc. decreased its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 13.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,612 shares of the company's stock after selling 1,778 shares during the quarter. TCV Trust & Wealth Management Inc.'s holdings in RTX were worth $1,696,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RTX. Susquehanna increased their target price on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. Wall Street Zen cut RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Morgan Stanley raised their price target on RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. The Goldman Sachs Group boosted their price objective on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a research note on Monday, June 23rd. Finally, Jefferies Financial Group restated a "hold" rating on shares of RTX in a report on Monday, July 21st. Three 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. According to data from MarketBeat, RTX currently has an average rating of "Moderate Buy" and an average price target of $158.87.

RTX Price Performance

NYSE RTX traded up $0.01 on Tuesday, hitting $159.44. 808,839 shares of the company's stock were exchanged, compared to its average volume of 5,106,867. The stock has a 50-day moving average of $156.07 and a 200-day moving average of $141.92. The stock has a market cap of $213.42 billion, a price-to-earnings ratio of 35.00, a P/E/G ratio of 2.92 and a beta of 0.67. The company has a current ratio of 1.01, a quick ratio of 0.75 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 $161.40.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.11. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 earnings per share. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Analysts expect that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 15th were issued a dividend of $0.68 per share. 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 (DPR) is presently 59.78%.

Insider Activity

In other news, insider Philip J. Jasper sold 12,847 shares of the firm'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 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Troy D. Brunk sold 7,654 shares of the firm's stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,635 shares of company stock worth $8,947,010. 0.15% of the stock is owned by insiders.

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.