Hoey Investments Inc. Sells 1,182 Shares of RTX Corporation $RTX

Hoey Investments Inc. trimmed its stake in shares of RTX Corporation (NYSE:RTX) by 15.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,268 shares of the company’s stock after selling 1,182 shares during the period. Hoey Investments Inc.’s holdings in RTX were worth $915,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of RTX. Nuveen LLC bought a new position in RTX in the 1st quarter valued at $916,739,000. GAMMA Investing LLC lifted its stake in shares of RTX by 14,838.5% during the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company’s stock valued at $551,460,000 after acquiring an additional 4,135,349 shares during the period. Goldman Sachs Group Inc. boosted its holdings in RTX by 28.0% in the first quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company’s stock valued at $845,784,000 after acquiring an additional 1,394,918 shares during the last quarter. Vanguard Group Inc. increased its position in RTX by 1.1% in the first 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 period. Finally, 1832 Asset Management L.P. raised its holdings in RTX by 1,178.2% during the 1st quarter. 1832 Asset Management L.P. now owns 1,212,353 shares of the company’s stock worth $160,588,000 after purchasing an additional 1,117,506 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insiders Place Their Bets

In related news, insider Philip J. Jasper sold 12,847 shares of the stock in a transaction 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 completion of the transaction, the insider owned 17,684 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Troy D. Brunk sold 7,654 shares of the firm’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the completion of the transaction, the insider directly owned 16,442 shares of the company’s stock, valued at approximately $2,551,798.40. This trade represents a 31.76% decrease in their position. 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 90 days. 0.15% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

RTX has been the topic of several recent research reports. Susquehanna raised their target price on shares of RTX from $160.00 to $175.00 and gave the company a “positive” rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. increased their price objective on shares of RTX from $145.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Citigroup raised their price objective on shares of RTX from $148.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, July 14th. The Goldman Sachs Group upped their target price on shares of RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a research report on Monday, June 23rd. Finally, Bank of America increased their price target on RTX from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Three 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 MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.87.

RTX Stock Performance

Shares of RTX stock opened at $159.58 on Tuesday. 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 firm has a market cap 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 stock’s 50-day moving average is $156.07 and its 200-day moving average is $141.92. RTX Corporation has a one year low of $112.27 and a one year high of $161.26.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 12.89% and a net margin of 7.35%.RTX’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company earned $1.41 earnings per share. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Equities analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

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

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.