Uptick Partners LLC Boosts Stock Holdings in RTX Corporation $RTX

Key Points

• Uptick Partners LLC has significantly increased its stake in RTX Corporation by 100%, now holding 3,270 shares valued at $477,000.
• Multiple institutional investors, including Chesapeake Wealth Management and Ritholtz Wealth Management, have also boosted their holdings in RTX during the second quarter.
• Wall Street analysts maintain a positive outlook on RTX, with several raising price targets and maintaining a majority "buy" rating for the stock.

Uptick Partners LLC increased its stake in RTX Corporation (NYSE:RTX - Free Report) by 100.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,270 shares of the company's stock after acquiring an additional 1,635 shares during the period. Uptick Partners LLC's holdings in RTX were worth $477,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Chesapeake Wealth Management increased its holdings in RTX by 7.2% during the 2nd quarter. Chesapeake Wealth Management now owns 13,081 shares of the company's stock worth $1,910,000 after purchasing an additional 880 shares during the period. Ritholtz Wealth Management boosted its stake in shares of RTX by 15.1% in the 2nd quarter. Ritholtz Wealth Management now owns 42,758 shares of the company's stock valued at $6,244,000 after buying an additional 5,621 shares during the period. Sterling Financial Planning Inc. grew its position in shares of RTX by 136.2% during the second quarter. Sterling Financial Planning Inc. now owns 12,657 shares of the company's stock worth $1,848,000 after buying an additional 7,298 shares in the last quarter. Private Wealth Asset Management LLC increased its stake in shares of RTX by 3.3% during the second quarter. Private Wealth Asset Management LLC now owns 13,857 shares of the company's stock worth $2,023,000 after buying an additional 444 shares during the period. Finally, Harbour Investments Inc. raised its holdings in RTX by 0.6% in the second quarter. Harbour Investments Inc. now owns 20,420 shares of the company's stock valued at $2,982,000 after acquiring an additional 115 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Bank of America increased their price objective on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $195.00 target price on shares of RTX in a report on Wednesday, October 8th. Wall Street Zen downgraded RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Citigroup increased their price objective on RTX from $148.00 to $182.00 and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Royal Bank Of Canada reissued 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. Two investment 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 company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $164.13.

RTX Stock Up 0.4%

RTX stock opened at $159.45 on Wednesday. The company has a market capitalization of $213.43 billion, a P/E ratio of 35.04, a PEG ratio of 2.95 and a beta of 0.66. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $170.85. The stock has a 50-day simple moving average of $159.09 and a 200-day simple moving average of $145.39.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, topping the consensus estimate 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 firm's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 earnings per share. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Equities research analysts expect that RTX Corporation will post 6.11 earnings per share for the current year.

Insider Transactions at RTX

In other news, insider Philip J. Jasper sold 12,847 shares of the company's stock in a transaction dated Monday, August 4th. The shares were 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 represents a 42.08% decrease in their ownership of the stock. The sale 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 the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the sale, the vice president owned 30,004 shares of the company's stock, valued at $4,686,624.80. This trade represents a 22.49% 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. Company insiders own 0.15% of the company's stock.

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.

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