Three Bridge Wealth Advisors LLC Has $1.09 Million Position in RTX Corporation $RTX

Key Points

• Three Bridge Wealth Advisors LLC reduced its stake in RTX Corporation by 33.0%, now holding 7,432 shares worth approximately $1.09 million.
• Insider Troy D. Brunk sold 7,654 shares of RTX stock, resulting in a 31.76% decrease in his ownership.
• RTX Corporation reported a 9.4% increase in quarterly revenue compared to the same quarter last year, achieving earnings of $1.56 per share.

Three Bridge Wealth Advisors LLC lowered its stake in RTX Corporation (NYSE:RTX - Free Report) by 33.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,432 shares of the company's stock after selling 3,659 shares during the period. Three Bridge Wealth Advisors LLC's holdings in RTX were worth $1,085,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Merit Financial Group LLC boosted its position in RTX by 44.7% in the 2nd quarter. Merit Financial Group LLC now owns 105,547 shares of the company's stock valued at $15,412,000 after buying an additional 32,628 shares during the last quarter. Keudell Morrison Wealth Management lifted its stake in shares of RTX by 8.6% during the second quarter. Keudell Morrison Wealth Management now owns 17,248 shares of the company's stock valued at $2,519,000 after acquiring an additional 1,360 shares during the period. Fortitude Advisory Group L.L.C. lifted its stake in shares of RTX by 4.3% during the second quarter. Fortitude Advisory Group L.L.C. now owns 2,094 shares of the company's stock valued at $306,000 after acquiring an additional 87 shares during the period. Marietta Wealth Management LLC lifted its stake in shares of RTX by 1.1% during the second quarter. Marietta Wealth Management LLC now owns 68,849 shares of the company's stock valued at $10,053,000 after acquiring an additional 752 shares during the period. Finally, Simplicity Wealth LLC lifted its stake in shares of RTX by 66.8% during the second quarter. Simplicity Wealth LLC now owns 32,667 shares of the company's stock valued at $4,770,000 after acquiring an additional 13,088 shares during the period. 86.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 stock was sold at an average price of $155.20, for a total value of $1,187,900.80. Following the completion of the transaction, the insider directly owned 16,442 shares of the company's stock, valued at approximately $2,551,798.40. The trade was a 31.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total value of $222,604.12. Following the sale, the executive vice president directly owned 13,184 shares in the company, valued at approximately $2,007,395.84. This represents a 9.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,635 shares of company stock worth $8,947,010 over the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

RTX Stock Up 0.1%

RTX stock opened at $166.73 on Friday. The company's 50 day simple moving average is $158.18 and its 200 day simple moving average is $143.95. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $168.28. The firm has a market capitalization of $223.18 billion, a price-to-earnings ratio of 36.64, a PEG ratio of 3.07 and a beta of 0.66. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.11. The business 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%. RTX's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.41 EPS. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, sell-side analysts anticipate that RTX Corporation will post 6.11 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on the company. Bank of America boosted their price objective on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. UBS Group lifted their price target on shares of RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a research report on Monday, July 21st. The Goldman Sachs Group raised their price objective on shares of RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research note on Monday, June 23rd. Finally, Wall Street Zen cut shares of RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $158.87.

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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