United Bank Acquires 4,131 Shares of RTX Corporation $RTX

Key Points

• United Bank increased its stake in RTX Corporation by 68% during Q2, acquiring an additional 4,131 shares, bringing its total holdings to 10,202 shares valued at approximately $1.49 million.
• A significant portion of RTX's stock, approximately 86.50%, is owned by institutional investors, indicating strong institutional interest in the company.
• Several analysts have adjusted their ratings and price targets for RTX, with Morgan Stanley increasing the target to $180.00 and a consensus rating of "Moderate Buy" based on multiple buy and hold assessments.

United Bank boosted its holdings in RTX Corporation (NYSE:RTX - Free Report) by 68.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,202 shares of the company's stock after buying an additional 4,131 shares during the period. United Bank's holdings in RTX were worth $1,490,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. PFS Partners LLC increased its position in shares of RTX by 101.1% during the second quarter. PFS Partners LLC now owns 177 shares of the company's stock valued at $26,000 after purchasing an additional 89 shares during the period. MorganRosel Wealth Management LLC bought a new stake in shares of RTX during the first quarter valued at approximately $26,000. Summit Securities Group LLC bought a new stake in shares of RTX during the first quarter valued at approximately $40,000. McClarren Financial Advisors Inc. bought a new stake in shares of RTX during the first quarter valued at approximately $44,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of RTX during the first quarter valued at approximately $50,000. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of research reports. Wall Street Zen cut RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of RTX in a research note on Wednesday, October 8th. Morgan Stanley boosted their price target on RTX from $165.00 to $180.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their price target on RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, UBS Group boosted 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. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $164.13.

Insider Activity at RTX

In other news, insider Troy D. Brunk sold 7,654 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the completion of the sale, the insider owned 16,442 shares in the company, valued at $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 SEC, which is available through this link. Also, insider Shane G. Eddy sold 25,968 shares of the business's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $159.79, for a total value of $4,149,426.72. The disclosure for this sale can be found here. Insiders have sold a total of 56,635 shares of company stock valued at $8,947,010 over the last quarter. 0.15% of the stock is currently owned by corporate insiders.

RTX Price Performance

RTX stock opened at $158.04 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The firm has a market cap of $211.55 billion, a P/E ratio of 34.73, a P/E/G ratio of 2.92 and a beta of 0.66. The business's fifty day moving average is $159.20 and its two-hundred day moving average is $145.82. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $170.85.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.11. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%.The business's revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.41 earnings per share. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Equities research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.