Baker Ellis Asset Management LLC Lowers Position in RTX Corporation $RTX

Baker Ellis Asset Management LLC cut its holdings in shares of RTX Corporation (NYSE:RTX) by 1.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,753 shares of the company’s stock after selling 795 shares during the quarter. RTX comprises approximately 1.2% of Baker Ellis Asset Management LLC’s investment portfolio, making the stock its 23rd biggest position. Baker Ellis Asset Management LLC’s holdings in RTX were worth $8,579,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Bay Capital Advisors LLC acquired a new position in RTX during the 1st quarter worth about $224,000. Dynamic Advisor Solutions LLC lifted its stake in RTX by 8.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company’s stock worth $4,591,000 after acquiring an additional 2,686 shares in the last quarter. Brookwood Investment Group LLC acquired a new position in RTX during the 1st quarter worth about $1,288,000. LBP AM SA lifted its stake in RTX by 17.7% during the 1st quarter. LBP AM SA now owns 279,179 shares of the company’s stock worth $36,980,000 after acquiring an additional 41,990 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in RTX by 1.4% during the 1st quarter. Arizona State Retirement System now owns 390,617 shares of the company’s stock worth $51,741,000 after acquiring an additional 5,356 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on RTX. Sanford C. Bernstein increased their price target on RTX from $154.00 to $157.00 and gave the company a “market perform” rating in a research report on Wednesday. Bank of America raised their price target on RTX from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Morgan Stanley raised their price target on RTX from $165.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their target price on RTX from $145.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Finally, The Goldman Sachs Group lifted their target price on RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a research note on Monday, June 23rd. Three equities research 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $158.87.

Insider Activity

In related news, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction 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 completion of the transaction, the executive vice president directly owned 13,184 shares of the company’s stock, valued at approximately $2,007,395.84. The trade was a 9.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Kevin G. Dasilva sold 8,704 shares of RTX stock in a transaction on Thursday, July 24th. The stock was 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. This represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,635 shares of company stock valued at $8,947,010 in the last 90 days. Insiders own 0.15% of the company’s stock.

RTX Stock Down 1.1%

RTX stock opened at $155.90 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $161.26. The company has a market cap of $208.68 billion, a PE ratio of 34.26, a price-to-earnings-growth ratio of 2.87 and a beta of 0.67. The stock’s 50 day moving average price is $154.64 and its 200 day moving average price is $140.74.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. The firm had revenue of $21.58 billion for 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%.The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.41 earnings per share. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. On average, sell-side analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.72 annualized dividend and a yield of 1.7%. RTX’s payout ratio is currently 59.78%.

RTX 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.