Pegasus Asset Management Inc. Grows Position in RTX Corporation $RTX

Pegasus Asset Management Inc. grew its stake in RTX Corporation (NYSE:RTX) by 2.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,183 shares of the company’s stock after purchasing an additional 1,109 shares during the period. RTX comprises approximately 2.6% of Pegasus Asset Management Inc.’s investment portfolio, making the stock its 15th largest holding. Pegasus Asset Management Inc.’s holdings in RTX were worth $7,474,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in RTX. Brighton Jones LLC boosted its stake in shares of RTX by 24.3% during the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock worth $1,969,000 after acquiring an additional 3,332 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of RTX by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock worth $564,000 after acquiring an additional 159 shares in the last quarter. GAMMA Investing LLC boosted its position in RTX by 12.8% during the first quarter. GAMMA Investing LLC now owns 31,430 shares of the company’s stock worth $4,163,000 after purchasing an additional 3,561 shares in the last quarter. Goldstone Financial Group LLC boosted its position in RTX by 8.8% during the first quarter. Goldstone Financial Group LLC now owns 2,829 shares of the company’s stock worth $375,000 after purchasing an additional 229 shares in the last quarter. Finally, Motive Wealth Advisors purchased a new position in RTX during the first quarter worth approximately $207,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at RTX

In other RTX news, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the transaction, the executive vice president directly owned 13,184 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Troy D. Brunk sold 7,654 shares of RTX stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the transaction, the insider directly owned 16,442 shares in the company, valued at $2,551,798.40. This trade represents a 31.76% decrease in their ownership of the stock. 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. Corporate insiders own 0.15% of the company’s stock.

RTX Trading Down 2.8%

RTX opened at $157.64 on Monday. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $170.85. The firm has a market capitalization of $211.01 billion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 2.93 and a beta of 0.66. 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 company’s 50 day simple moving average is $159.00 and its two-hundred day simple moving average is $145.11.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RTX shares. Susquehanna increased their price target on RTX from $160.00 to $175.00 and gave the stock a “positive” rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $195.00 target price on shares of RTX in a research report on Wednesday. Barclays increased their price objective 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. Morgan Stanley increased their price objective on shares of RTX from $165.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Finally, Citigroup raised their target price on RTX from $148.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Two 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. Based on data from MarketBeat, RTX has an average rating of “Moderate Buy” and an average target price of $164.13.

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.