Bar Harbor Wealth Management Sells 288 Shares of RTX Corporation $RTX

Bar Harbor Wealth Management trimmed its position in RTX Corporation (NYSE:RTX) by 1.2% during the second quarter, HoldingsChannel.com reports. The fund owned 22,970 shares of the company’s stock after selling 288 shares during the quarter. Bar Harbor Wealth Management’s holdings in RTX were worth $3,354,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in RTX. MorganRosel Wealth Management LLC bought a new stake in shares of RTX during the first quarter worth $26,000. PFS Partners LLC grew its stake in shares of RTX by 101.1% during the second quarter. PFS Partners LLC now owns 177 shares of the company’s stock worth $26,000 after buying an additional 89 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of RTX during the first quarter worth $40,000. McClarren Financial Advisors Inc. bought a new stake in shares of RTX during the first quarter worth $44,000. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of RTX during the first quarter worth $50,000. 86.50% of the stock is owned by institutional investors.

RTX Price Performance

RTX stock opened at $168.47 on Thursday. The firm has a market cap of $225.50 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 3.12 and a beta of 0.66. 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 Corporation has a 12-month low of $112.27 and a 12-month high of $170.85. The company’s fifty day simple moving average is $158.89 and its 200 day simple moving average is $144.61.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on RTX shares. Sanford C. Bernstein boosted their target price on shares of RTX from $157.00 to $181.00 and gave the stock a “market perform” rating in a research note on Monday. Jefferies Financial Group reaffirmed a “hold” rating on shares of RTX in a research note on Monday, July 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $195.00 target price on shares of RTX in a research note on Wednesday. Royal Bank Of Canada reiterated an “outperform” rating and set a $170.00 price target (up previously from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Finally, Citigroup lifted their price target on shares of RTX from $148.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, July 14th. 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 company. According to MarketBeat, RTX has an average rating of “Moderate Buy” and an average target price of $164.13.

Insider Transactions at RTX

In other RTX news, insider Shane G. Eddy sold 25,968 shares of RTX stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $159.79, for a total value of $4,149,426.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Troy D. Brunk sold 7,654 shares of RTX stock in a transaction on 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 completion of the sale, the insider directly owned 16,442 shares of the company’s stock, valued at approximately $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. In the last quarter, insiders sold 56,635 shares of company stock valued at $8,947,010. 0.15% of the stock is owned by insiders.

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.