Summit Place Financial Advisors LLC Sells 310 Shares of RTX Corporation $RTX

Summit Place Financial Advisors LLC trimmed its position in RTX Corporation (NYSE:RTX) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,042 shares of the company’s stock after selling 310 shares during the period. RTX accounts for approximately 2.4% of Summit Place Financial Advisors LLC’s investment portfolio, making the stock its 8th biggest holding. Summit Place Financial Advisors LLC’s holdings in RTX were worth $4,679,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in RTX. Nuveen LLC purchased a new stake in RTX in the first quarter valued at $916,739,000. 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 purchasing an additional 1,394,918 shares during the last quarter. Vanguard Group Inc. boosted its holdings in RTX by 1.1% in the first quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company’s stock valued at $15,873,541,000 after purchasing an additional 1,357,328 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in RTX by 1,178.2% in the first quarter. 1832 Asset Management L.P. now owns 1,212,353 shares of the company’s stock valued at $160,588,000 after purchasing an additional 1,117,506 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in RTX in the first quarter valued at $130,194,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RTX has been the topic of several recent research reports. Barclays upped their price target on shares of RTX from $130.00 to $153.00 and gave the company an “equal weight” rating in a report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $195.00 target price on shares of RTX in a research note on Wednesday. UBS Group increased their target price 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. Citigroup increased their target price on shares of RTX from $148.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of RTX in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and an average price target of $164.13.

RTX Stock Down 2.8%

RTX opened at $157.64 on Friday. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $170.85. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average price of $159.00 and a 200 day moving average price of $144.95. The company has a market cap of $211.01 billion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 2.99 and a beta of 0.66.

RTX (NYSE:RTX) last released its quarterly 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 net margin of 7.35% and a return on equity of 12.89%. The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Sell-side analysts expect that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

Insider Activity

In other RTX news, insider Shane G. Eddy sold 25,968 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $159.79, for a total value of $4,149,426.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Troy D. Brunk sold 7,654 shares of the stock in a transaction dated 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 sale, the insider owned 16,442 shares of the company’s stock, valued at approximately $2,551,798.40. The trade was a 31.76% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,635 shares of company stock worth $8,947,010. Company insiders own 0.15% of the company’s stock.

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.