Wellington Management Group LLP Decreases Stock Position in RTX Corporation $RTX

Key Points

• Wellington Management Group LLP has reduced its stake in RTX Corporation by 10.9%, now owning approximately 2.34 million shares valued at $310.3 million.
• RTX reported earnings per share of $1.56 for the last quarter, exceeding estimates by $0.11, with revenues of $21.58 billion reflecting a 9.4% increase year-over-year.
• The company plans to pay a quarterly dividend of $0.68 per share on September 4th, representing an annualized dividend yield of 1.8%.

Wellington Management Group LLP lowered its stake in RTX Corporation (NYSE:RTX - Free Report) by 10.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,342,935 shares of the company's stock after selling 286,713 shares during the quarter. Wellington Management Group LLP owned about 0.18% of RTX worth $310,345,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of RTX. MorganRosel Wealth Management LLC purchased a new stake in RTX in the 1st quarter worth $26,000. 10Elms LLP purchased a new position in shares of RTX in the fourth quarter valued at $29,000. Greenline Partners LLC purchased a new position in shares of RTX in the fourth quarter valued at $34,000. Summit Securities Group LLC purchased a new position in shares of RTX in the first quarter valued at $40,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of RTX in the fourth quarter valued at $43,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Down 1.1%

NYSE:RTX opened at $153.7310 on Wednesday. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $158.79. The company has a market cap of $205.78 billion, a price-to-earnings ratio of 33.79, a price-to-earnings-growth ratio of 2.87 and a beta of 0.69. The stock has a fifty day simple moving average of $150.14 and a 200-day simple moving average of $136.83. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX - Get Free Report) last released its 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. RTX had a return on equity of 12.89% and a net margin of 7.35%.The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. During the same period last year, the company earned $1.41 earnings per share. The business'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. Analysts anticipate that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.8%. RTX's dividend payout ratio (DPR) is presently 59.78%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley boosted their target price on shares of RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their target price on shares of RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Cowen restated a "buy" rating on shares of RTX in a report on Friday, May 23rd. Bank of America boosted their target price on shares of RTX from $150.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Citigroup boosted their target price on shares of RTX from $148.00 to $182.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Three investment 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $158.67.

Insider Buying and Selling at RTX

In other RTX news, 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 transaction, the vice president directly owned 30,004 shares of the company's stock, valued at approximately $4,686,624.80. The trade was a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Philip J. Jasper sold 12,847 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the transaction, the insider owned 17,684 shares in the company, valued at $2,790,888.88. The trade was a 42.08% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,589 shares of company stock worth $7,126,389. 0.15% of the stock is currently owned by company insiders.

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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