Hartford Funds Management Co LLC Sells 5,538 Shares of RTX Corporation $RTX

Hartford Funds Management Co LLC cut its stake in RTX Corporation (NYSE:RTX) by 93.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 377 shares of the company’s stock after selling 5,538 shares during the period. Hartford Funds Management Co LLC’s holdings in RTX were worth $55,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in RTX. Brookwood Investment Group LLC acquired a new stake in RTX during the 1st quarter valued at approximately $1,288,000. Redwood Financial Network Corp bought a new position in shares of RTX in the 1st quarter worth about $243,000. Zuckerman Investment Group LLC lifted its stake in shares of RTX by 54.1% in the 1st quarter. Zuckerman Investment Group LLC now owns 5,790 shares of the company’s stock valued at $767,000 after purchasing an additional 2,033 shares during the period. Fortem Financial Group LLC bought a new stake in shares of RTX during the 1st quarter valued at about $241,000. Finally, Aigen Investment Management LP bought a new stake in RTX in the first quarter worth approximately $581,000. Institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on RTX shares. Bank of America lifted their price target on shares of RTX from $175.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Barclays lifted their price target on RTX from $130.00 to $153.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 29th. The Goldman Sachs Group upped their price target on RTX from $151.00 to $168.00 and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Robert W. Baird set a $203.00 target price on shares of RTX in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of RTX in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $178.47.

Insider Transactions at RTX

In other news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $180.15, for a total value of $873,547.35. Following the transaction, the executive vice president directly owned 59,556 shares in the company, valued at approximately $10,729,013.40. This represents a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the sale, the insider owned 16,442 shares of the company’s stock, valued at $2,551,798.40. The trade was a 31.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 38,471 shares of company stock worth $6,210,875. 0.15% of the stock is currently owned by company insiders.

RTX Trading Up 1.1%

NYSE RTX opened at $177.01 on Monday. 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 market capitalization of $237.33 billion, a PE ratio of 36.35, a P/E/G ratio of 2.79 and a beta of 0.64. The stock’s 50 day moving average is $164.99 and its 200 day moving average is $151.59.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 21st. The company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.29. The business had revenue of $22.48 billion during the quarter, compared to the consensus estimate of $21.26 billion. RTX had a net margin of 7.67% and a return on equity of 13.28%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.45 EPS. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. Research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

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

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.