Shell Asset Management Co. Grows Position in RTX Corporation $RTX

Shell Asset Management Co. lifted its holdings in shares of RTX Corporation (NYSE:RTX) by 79.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 38,523 shares of the company’s stock after acquiring an additional 17,019 shares during the quarter. Shell Asset Management Co.’s holdings in RTX were worth $5,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Nuveen LLC bought a new stake in RTX during the 1st quarter valued at approximately $916,739,000. Goldman Sachs Group Inc. boosted its holdings in shares of RTX by 28.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company’s stock worth $845,784,000 after purchasing an additional 1,394,918 shares during the period. Vanguard Group Inc. boosted its holdings 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 period. 1832 Asset Management L.P. boosted its holdings in shares of RTX by 1,178.2% in 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 period. Finally, Zurich Insurance Group Ltd FI purchased a new position in RTX during the 1st quarter valued at $130,194,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Trading Up 1.5%

RTX opened at $169.03 on Tuesday. The stock has a fifty day moving average price of $158.44 and a 200-day moving average price of $144.27. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $169.75. The firm has a market cap of $226.25 billion, a price-to-earnings ratio of 37.15, a PEG ratio of 3.07 and a beta of 0.66. 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) last announced its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating 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 quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.41 EPS. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, equities research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Susquehanna boosted their price objective on RTX from $160.00 to $175.00 and gave the company a “positive” rating in a report on Wednesday, July 23rd. Citigroup boosted 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. Bank of America boosted their price objective on RTX from $150.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. UBS Group boosted their price objective on RTX from $166.00 to $177.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Finally, The Goldman Sachs Group upped their target price on RTX from $114.00 to $126.00 and gave the stock a “neutral” rating in a report on Monday, June 23rd. Three equities research 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 company. Based on data from MarketBeat, RTX currently has an average rating of “Moderate Buy” and an average price target of $160.47.

Insider Activity

In related news, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total transaction of $222,604.12. Following the transaction, the executive vice president owned 13,184 shares in the company, 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 filing with the SEC, which can be accessed through this link. Also, insider Shane G. Eddy sold 25,968 shares of the firm’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 in the last 90 days. 0.15% of the stock is owned by 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.