Meridian Management Co. Has $1.93 Million Stake in RTX Corporation $RTX

Meridian Management Co. reduced its stake in RTX Corporation (NYSE:RTX) by 2.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 12,219 shares of the company’s stock after selling 329 shares during the quarter. Meridian Management Co.’s holdings in RTX were worth $1,925,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of RTX by 1.1% during the first quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company’s stock worth $15,873,541,000 after buying an additional 1,357,328 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in RTX by 1.0% in 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. boosted its position in RTX by 1.5% during the 1st quarter. Invesco Ltd. now owns 10,312,313 shares of the company’s stock worth $1,365,969,000 after acquiring an additional 154,544 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of RTX by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,713,131 shares of the company’s stock worth $1,021,623,000 after acquiring an additional 65,493 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of RTX in the first quarter valued at approximately $916,739,000. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Performance

Shares of RTX opened at $178.70 on Friday. The company has a market cap of $239.60 billion, a PE ratio of 36.69, a price-to-earnings-growth ratio of 2.79 and a beta of 0.66. The firm has a 50-day moving average of $163.32 and a 200-day moving average of $149.61. RTX Corporation has a one year low of $112.27 and a one year high of $181.31. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.07 and a quick ratio of 0.81.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 21st. The company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.29. RTX had a net margin of 7.67% and a return on equity of 13.28%. The company had revenue of $22.48 billion for the quarter, compared to analysts’ expectations of $21.26 billion. During the same period in the prior year, the firm earned $1.45 EPS. RTX’s quarterly revenue was up 11.9% compared to the same quarter last year. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. As a group, equities analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Friday, November 21st will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, November 21st. RTX’s dividend payout ratio (DPR) is presently 55.85%.

Insiders Place Their Bets

In other news, insider Philip J. Jasper sold 12,847 shares of RTX 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 transaction, the insider directly owned 17,684 shares in the company, valued at approximately $2,790,888.88. The trade was a 42.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Shane G. Eddy sold 25,968 shares of RTX stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $159.79, for a total value of $4,149,426.72. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 51,318 shares of company stock valued at $8,238,388. 0.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RTX. Wall Street Zen upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Citigroup boosted their price target on shares of RTX from $148.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. Morgan Stanley set a $215.00 price objective on RTX and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of RTX in a research report on Friday. Finally, Bank of America upped their target price on RTX from $175.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Two 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 stock. Based on data from MarketBeat.com, RTX has a consensus rating of “Moderate Buy” and a consensus price target of $178.47.

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.