Townsend & Associates Inc Cuts Position in RTX Corporation $RTX

Townsend & Associates Inc trimmed its position in RTX Corporation (NYSE:RTX - Free Report) by 5.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,047 shares of the company's stock after selling 8,044 shares during the quarter. RTX accounts for approximately 2.1% of Townsend & Associates Inc's portfolio, making the stock its 15th largest holding. Townsend & Associates Inc's holdings in RTX were worth $21,029,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. 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 purchasing an additional 1,357,328 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of RTX by 1.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,351,568 shares of the company's stock valued at $1,371,171,000 after buying an additional 104,139 shares during the period. Invesco Ltd. raised its holdings in shares of RTX by 1.5% during the 1st quarter. Invesco Ltd. now owns 10,312,313 shares of the company's stock valued at $1,365,969,000 after buying an additional 154,544 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of RTX by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,713,131 shares of the company's stock valued at $1,021,623,000 after buying an additional 65,493 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of RTX during the 1st quarter valued at about $916,739,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Barclays raised their target price on RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. The Goldman Sachs Group raised their target price on RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a report on Monday, June 23rd. UBS Group raised their target price on RTX from $166.00 to $177.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Morgan Stanley raised their target price on RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, Bank of America raised their target price on RTX from $150.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $164.13.

RTX Price Performance

RTX stock opened at $158.04 on Monday. 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 $170.85. The stock's 50 day moving average is $159.20 and its two-hundred day moving average is $146.01. The company has a market capitalization of $211.55 billion, a PE ratio of 34.73, a P/E/G ratio of 2.93 and a beta of 0.66.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data 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. 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 the consensus estimate of $20.68 billion. During the same period in the previous year, the business earned $1.41 EPS. RTX'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. Analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Troy D. Brunk sold 7,654 shares of RTX stock in a transaction that occurred on 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 owned 16,442 shares in the company, valued at approximately $2,551,798.40. This trade represents a 31.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total value of $222,604.12. Following the completion of the transaction, the executive vice president owned 13,184 shares of the company's stock, valued at approximately $2,007,395.84. The trade was a 9.98% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,635 shares of company stock worth $8,947,010. 0.15% of the stock is currently 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.

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