Triangle Securities Wealth Management Sells 1,681 Shares of RTX Corporation $RTX

Key Points

• Triangle Securities Wealth Management has reduced its stake in RTX Corporation by 7.2%, selling 1,681 shares and now holding 21,665 shares valued at $3,164,000.
• Several institutional investors, including Vanguard Group and Charles Schwab, have increased their stakes in RTX, with 86.5% of the stock owned by institutional investors.
• RTX announced a quarterly dividend of $0.68 per share with a dividend yield of 1.7%, and recent earnings surpassed analysts' estimates with a reported $1.56 EPS for the quarter.

Triangle Securities Wealth Management reduced its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 7.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,665 shares of the company's stock after selling 1,681 shares during the period. Triangle Securities Wealth Management's holdings in RTX were worth $3,164,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. MorganRosel Wealth Management LLC acquired a new stake in RTX during the 1st quarter worth about $26,000. 10Elms LLP acquired a new stake in shares of RTX in the 4th quarter valued at about $29,000. Summit Securities Group LLC acquired a new stake in shares of RTX in the 1st quarter valued at about $40,000. McClarren Financial Advisors Inc. acquired a new stake in shares of RTX in the 1st quarter valued at about $44,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of RTX in the 1st quarter valued at about $50,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. UBS Group lifted their price target on RTX from $166.00 to $177.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. The Goldman Sachs Group lifted their price target on RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research note on Monday, June 23rd. Citigroup lifted their target price on shares of RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Susquehanna lifted their target price on shares of RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $158.87.

RTX Trading Down 0.2%

RTX stock traded down $0.25 during mid-day trading on Tuesday, hitting $159.18. The company's stock had a trading volume of 635,782 shares, compared to its average volume of 5,105,932. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The stock has a market cap of $213.06 billion, a price-to-earnings ratio of 35.01, a price-to-earnings-growth ratio of 2.92 and a beta of 0.67. The business has a 50 day moving average price of $156.07 and a 200-day moving average price of $141.92. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $161.40.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results 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 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 firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.41 earnings per share. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, analysts forecast that RTX Corporation will post 6.11 EPS 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 paid a $0.68 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.72 annualized dividend and a yield of 1.7%. RTX's payout ratio is currently 59.78%.

Insider Activity

In other news, EVP Ramsaran Maharajh sold 1,462 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the completion of the transaction, the executive vice president directly owned 13,184 shares of the company's stock, valued at approximately $2,007,395.84. This represents a 9.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Kevin G. Dasilva sold 8,704 shares of the company's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the transaction, the vice president directly owned 30,004 shares of the company's stock, valued at approximately $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 quarter, insiders sold 56,635 shares of company stock valued at $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.