RTX Corporation $RTX is Puzo Michael J’s 10th Largest Position

Puzo Michael J lessened its stake in RTX Corporation (NYSE:RTX) by 6.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,934 shares of the company’s stock after selling 5,417 shares during the quarter. RTX accounts for 3.4% of Puzo Michael J’s investment portfolio, making the stock its 10th largest position. Puzo Michael J’s holdings in RTX were worth $11,964,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in RTX by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company’s stock valued at $15,873,541,000 after acquiring an additional 1,357,328 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in RTX by 1.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,351,568 shares of the company’s stock valued at $1,371,171,000 after acquiring an additional 104,139 shares in the last quarter. Invesco Ltd. increased its holdings in RTX by 1.5% during the 1st quarter. Invesco Ltd. now owns 10,312,313 shares of the company’s stock valued at $1,365,969,000 after acquiring an additional 154,544 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in 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 acquiring an additional 65,493 shares in the last quarter. Finally, Nuveen LLC purchased a new position in RTX during the 1st quarter valued at about $916,739,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RTX shares. Weiss Ratings restated a “buy (b-)” rating on shares of RTX in a report on Saturday, September 27th. JPMorgan Chase & Co. raised their target price on shares of RTX from $145.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Barclays raised their price target on shares of RTX from $130.00 to $153.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 29th. UBS Group raised their price target on shares of RTX from $166.00 to $177.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of RTX in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $160.47.

RTX Price Performance

RTX opened at $169.48 on Wednesday. The company’s 50 day simple moving average is $158.69 and its 200 day simple moving average is $144.45. 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 1 year low of $112.27 and a 1 year high of $170.36. The stock has a market capitalization of $226.86 billion, a PE ratio of 37.25, a P/E/G ratio of 3.11 and a beta of 0.66.

RTX (NYSE:RTX) last released its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.11. RTX had a net margin of 7.35% and a return on equity of 12.89%. The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $20.68 billion. During the same period last year, the company earned $1.41 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, sell-side analysts expect that RTX Corporation will post 6.11 EPS for the current year.

Insiders Place Their Bets

In related news, VP Kevin G. Dasilva sold 8,704 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president directly owned 30,004 shares of the company’s stock, valued at approximately $4,686,624.80. This trade represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Philip J. Jasper sold 12,847 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the completion of the sale, the insider directly owned 17,684 shares in the company, valued at $2,790,888.88. This represents a 42.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 56,635 shares of company stock valued at $8,947,010. 0.15% of the stock is currently owned by corporate 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.