Fifth Third Bancorp Decreases Position in RTX Corporation $RTX

Fifth Third Bancorp decreased its stake in RTX Corporation (NYSE:RTX) by 2.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 517,071 shares of the company’s stock after selling 11,098 shares during the period. Fifth Third Bancorp’s holdings in RTX were worth $75,503,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. AM Investment Strategies LLC boosted its position in shares of RTX by 14.3% in the second quarter. AM Investment Strategies LLC now owns 2,084 shares of the company’s stock worth $304,000 after buying an additional 260 shares during the period. Retirement Income Solutions Inc acquired a new position in shares of RTX in the second quarter worth about $225,000. Hidden Cove Wealth Management LLC lifted its stake in shares of RTX by 9.3% in the second quarter. Hidden Cove Wealth Management LLC now owns 2,171 shares of the company’s stock worth $317,000 after acquiring an additional 184 shares in the last quarter. Eaton Financial Holdings Company LLC acquired a new position in shares of RTX in the second quarter worth about $676,000. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its stake in shares of RTX by 5.4% in the second quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 8,514 shares of the company’s stock worth $1,243,000 after acquiring an additional 440 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In other news, insider Troy D. Brunk sold 7,654 shares of the company’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 transaction of $1,187,900.80. Following the completion of the transaction, the insider directly owned 16,442 shares of the company’s stock, valued at approximately $2,551,798.40. This represents a 31.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kevin G. Dasilva sold 8,704 shares of the company’s stock in a transaction that occurred on Thursday, July 24th. The shares were 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 $4,686,624.80. This trade represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 56,635 shares of company stock valued at $8,947,010. 0.15% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RTX. Royal Bank Of Canada reiterated an “outperform” rating and issued a $170.00 price target (up previously from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Jefferies Financial Group reiterated a “hold” rating on shares of RTX in a research note on Monday, July 21st. Citigroup boosted their price target on RTX from $148.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. UBS Group boosted their price target on RTX from $166.00 to $177.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Finally, Sanford C. Bernstein boosted their price target on RTX from $154.00 to $157.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 10th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, RTX has a consensus rating of “Moderate Buy” and a consensus price target of $158.87.

RTX Trading Up 0.6%

Shares of NYSE RTX opened at $160.32 on Wednesday. The stock has a market capitalization of $214.59 billion, a P/E ratio of 35.23, a PEG ratio of 2.94 and a beta of 0.67. The stock’s 50 day moving average price is $156.30 and its two-hundred day moving average price is $142.05. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $161.40. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60.

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

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders 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 dividend yield of 1.7%. RTX’s dividend payout ratio is 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.