Modera Wealth Management LLC Buys 751 Shares of RTX Corporation $RTX

Modera Wealth Management LLC grew its stake in RTX Corporation (NYSE:RTX) by 1.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,763 shares of the company’s stock after purchasing an additional 751 shares during the quarter. Modera Wealth Management LLC’s holdings in RTX were worth $8,289,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of RTX. Brighton Jones LLC grew its stake in RTX by 24.3% in the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock worth $1,969,000 after purchasing an additional 3,332 shares during the period. Revolve Wealth Partners LLC boosted its stake in RTX by 3.4% during the fourth 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. Stonebrook Private Inc. grew its holdings in RTX by 24.3% in the first quarter. Stonebrook Private Inc. now owns 2,537 shares of the company’s stock worth $336,000 after purchasing an additional 496 shares during the period. Alps Advisors Inc. bought a new position in shares of RTX during the first quarter valued at approximately $477,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of RTX during the first quarter valued at approximately $50,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Up 1.1%

RTX opened at $177.01 on Friday. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $181.31. The company has a quick ratio of 0.81, a current ratio of 1.07 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average price of $164.99 and a 200-day moving average price of $151.11. The stock has a market capitalization of $237.33 billion, a price-to-earnings ratio of 36.35, a PEG ratio of 2.79 and a beta of 0.64.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 21st. The company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.29. RTX had a return on equity of 13.28% and a net margin of 7.67%.The firm 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. The company’s 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. Equities research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The business 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 dividend of $0.68 per share. 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 payout ratio is presently 55.85%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RTX. Citigroup lifted their price objective on RTX from $148.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, July 14th. UBS Group upped their price target on shares of RTX from $197.00 to $202.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Barclays raised their price objective on shares of RTX from $130.00 to $153.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 29th. Jefferies Financial Group reiterated a “hold” rating on shares of RTX in a research note on Monday, July 21st. Finally, Robert W. Baird set a $203.00 price target on shares of RTX in a research report on Wednesday, October 22nd. Two 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $178.47.

Insiders Place Their Bets

In other RTX news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $180.15, for a total transaction of $873,547.35. Following the sale, the executive vice president directly owned 59,556 shares of the company’s stock, valued at $10,729,013.40. This trade represents a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Troy D. Brunk sold 7,654 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total value of $1,187,900.80. Following the completion of the transaction, the insider directly owned 16,442 shares in the company, valued at approximately $2,551,798.40. This represents a 31.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 38,471 shares of company stock worth $6,210,875. Company insiders own 0.15% of the company’s stock.

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.