Wealth Enhancement Advisory Services LLC Increases Holdings in RTX Corporation $RTX

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in RTX Corporation by 3.7%, acquiring an additional 26,794 shares, bringing its total ownership to 746,430 shares valued at approximately $108.8 million.
• Recent insider transactions include the sale of 20,501 shares by insiders Troy D. Brunk and Philip J. Jasper, indicating significant decreases in their ownership of the stock.
• RTX's quarterly earnings reported a 9.4% year-over-year revenue increase, with earnings per share (EPS) of $1.56, exceeding analysts' expectations.

Wealth Enhancement Advisory Services LLC boosted its stake in RTX Corporation (NYSE:RTX - Free Report) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 746,430 shares of the company's stock after acquiring an additional 26,794 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.06% of RTX worth $108,792,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its position 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 last quarter. Charles Schwab Investment Management Inc. raised its position in RTX by 1.0% in 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 last quarter. Invesco Ltd. raised its position in RTX by 1.5% in 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 last quarter. Dimensional Fund Advisors LP increased 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 valued at $1,021,623,000 after purchasing an additional 65,493 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of RTX during the 1st quarter valued at about $916,739,000. Institutional investors own 86.50% of the company's stock.

RTX Stock Up 0.8%

RTX stock traded up $1.34 during trading on Monday, reaching $159.58. 3,294,972 shares of the company traded hands, compared to its average volume of 3,943,100. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $161.26. The business has a 50 day simple moving average of $156.07 and a 200 day simple moving average of $141.92. The company has a market capitalization of $213.60 billion, a price-to-earnings ratio of 35.07, a price-to-earnings-growth ratio of 2.92 and a beta of 0.67. 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 (NYSE:RTX - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $20.68 billion. During the same quarter last year, the company earned $1.41 earnings per share. The firm'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. On average, equities research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 15th were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 15th. RTX's dividend payout ratio (DPR) is currently 59.78%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RTX shares. Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a research note on Monday, July 21st. Royal Bank Of Canada restated an "outperform" rating and issued a $170.00 price target (up from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Bank of America upped their price target on RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Citigroup upped their price target on RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Finally, UBS Group increased their target price on RTX from $166.00 to $177.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, RTX presently has an average rating of "Moderate Buy" and a consensus price target of $158.87.

Insiders Place Their Bets

In other RTX news, EVP Ramsaran Maharajh sold 1,462 shares of the firm's stock in a transaction dated 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 sale, the executive vice president owned 13,184 shares of the company's stock, valued at approximately $2,007,395.84. This trade represents a 9.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Troy D. Brunk sold 7,654 shares of the firm's stock in a transaction dated 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 sale, the insider directly owned 16,442 shares of the company's stock, valued at approximately $2,551,798.40. This represents a 31.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,635 shares of company stock valued at $8,947,010. 0.15% of the stock is currently owned by corporate insiders.

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.