Concord Asset Management LLC VA Makes New Investment in RTX Corporation $RTX

Concord Asset Management LLC VA acquired a new stake in shares of RTX Corporation (NYSE:RTX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,281 shares of the company’s stock, valued at approximately $333,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in RTX by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company’s stock worth $15,873,541,000 after purchasing an additional 1,357,328 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of RTX by 1.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,351,568 shares of the company’s stock worth $1,371,171,000 after buying an additional 104,139 shares during the last quarter. Invesco Ltd. lifted its holdings in RTX by 1.5% in the first quarter. Invesco Ltd. now owns 10,312,313 shares of the company’s stock valued at $1,365,969,000 after acquiring an additional 154,544 shares during the period. Dimensional Fund Advisors LP lifted its holdings in RTX by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 7,713,131 shares of the company’s stock valued at $1,021,623,000 after acquiring an additional 65,493 shares during the period. Finally, Nuveen LLC bought a new position in RTX in the first quarter valued at about $916,739,000. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

RTX opened at $158.83 on Tuesday. The stock has a market capitalization of $212.59 billion, a price-to-earnings ratio of 34.91, a PEG ratio of 2.93 and a beta of 0.66. The company has a fifty day moving average of $159.02 and a 200 day moving average of $145.30. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $170.85. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RTX shares. Jefferies Financial Group reaffirmed a “hold” rating on shares of RTX in a research report on Monday, July 21st. UBS Group raised their target price on RTX from $166.00 to $177.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. upped their price target on RTX from $145.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Citigroup upped their price target on RTX from $148.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of RTX in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.13.

Insiders Place Their Bets

In related news, insider Shane G. Eddy sold 25,968 shares of the firm’s 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Troy D. Brunk sold 7,654 shares of the 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 transaction, the insider owned 16,442 shares of the company’s stock, valued at $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 worth $8,947,010. Insiders own 0.15% of the company’s stock.

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.