Transcendent Capital Group LLC Takes Position in RTX Corporation $RTX

Key Points

• Transcendent Capital Group LLC acquired a new position in RTX Corporation, purchasing 2,796 shares valued at approximately $408,000 in the second quarter.
• Institutional investors own 86.50% of RTX Corporation, with Vanguard Group Inc. increasing its holdings by 1.1%, raising its total to about $15.87 billion.
• Analysts have boosted their price targets for RTX, with Royal Bank of Canada setting a new target of $170.00, up from $165.00, and Bank of America also raising its target to $175.00.

Transcendent Capital Group LLC acquired a new position in shares of RTX Corporation (NYSE:RTX - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,796 shares of the company's stock, valued at approximately $408,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in 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 buying an additional 1,357,328 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position 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 worth $1,371,171,000 after buying an additional 104,139 shares during the period. Invesco Ltd. lifted its position in shares of RTX by 1.5% during the 1st quarter. Invesco Ltd. now owns 10,312,313 shares of the company's stock worth $1,365,969,000 after buying an additional 154,544 shares during the period. Dimensional Fund Advisors LP lifted its position 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 worth $1,021,623,000 after buying an additional 65,493 shares during the period. Finally, Nuveen LLC bought a new position in shares of RTX during the 1st quarter worth approximately $916,739,000. Institutional investors own 86.50% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Weiss Ratings restated a "buy (b-)" rating on shares of RTX in a research report on Wednesday. Royal Bank Of Canada restated an "outperform" rating and set a $170.00 target price (up previously from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Susquehanna raised their target price on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Barclays raised their target price on RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Finally, Bank of America raised their price target 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 given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $164.13.

Insider Buying and Selling

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

RTX Trading Down 2.8%

RTX stock opened at $157.64 on Friday. The business has a fifty day moving average price of $159.00 and a 200 day moving average price of $145.03. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $170.85. The stock has a market capitalization of $211.01 billion, a price-to-earnings ratio of 34.65, a P/E/G ratio of 2.91 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 results on Tuesday, July 22nd. The company reported $1.56 earnings per share 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 firm had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $20.68 billion. During the same period last year, the firm posted $1.41 EPS. The business's revenue was up 9.4% on a year-over-year basis. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Analysts expect that RTX Corporation will post 6.11 EPS for the current fiscal year.

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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