Griffin Asset Management Inc. Sells 2,052 Shares of RTX Corporation $RTX

Griffin Asset Management Inc. cut its holdings in shares of RTX Corporation (NYSE:RTXFree Report) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,368 shares of the company’s stock after selling 2,052 shares during the period. RTX makes up approximately 1.3% of Griffin Asset Management Inc.’s investment portfolio, making the stock its 21st largest holding. Griffin Asset Management Inc.’s holdings in RTX were worth $11,297,000 at the end of the most recent quarter.

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

Insider Activity

In other RTX news, VP Kevin G. Dasilva sold 8,704 shares of the business’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the transaction, the vice president owned 30,004 shares of the company’s stock, valued at $4,686,624.80. The trade was a 22.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction, the insider directly owned 16,442 shares in the company, valued at approximately $2,551,798.40. This trade represents a 31.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,635 shares of company stock valued at $8,947,010. 0.15% of the stock is owned by insiders.

RTX Stock Performance

RTX opened at $157.64 on Monday. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $170.85. The firm has a market capitalization of $211.01 billion, a PE ratio of 34.65, a PEG ratio of 2.93 and a beta of 0.66. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The business’s 50-day simple moving average is $159.00 and its 200 day simple moving average is $145.11.

RTX (NYSE:RTXGet Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.11. The firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate 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 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. As a group, sell-side analysts expect that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Sanford C. Bernstein boosted their price target on RTX from $157.00 to $181.00 and gave the company a “market perform” rating in a report on Monday, October 6th. Jefferies Financial Group restated a “hold” rating on shares of RTX in a report on Monday, July 21st. Weiss Ratings restated a “buy (b-)” rating on shares of RTX in a report on Wednesday, October 8th. Royal Bank Of Canada restated an “outperform” rating and issued a $170.00 price target (up from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Finally, The Goldman Sachs Group upped their target price on RTX from $114.00 to $126.00 and gave the stock a “neutral” rating in a report on Monday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $164.13.

Read Our Latest Report on RTX

About RTX

(Free Report)

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.

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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