Patten & Patten Inc. TN Lowers Stake in RTX Corporation $RTX

Patten & Patten Inc. TN decreased its position in RTX Corporation (NYSE:RTX) by 0.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 153,910 shares of the company’s stock after selling 873 shares during the quarter. RTX accounts for approximately 1.5% of Patten & Patten Inc. TN’s portfolio, making the stock its 13th largest position. Patten & Patten Inc. TN’s holdings in RTX were worth $22,474,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Gries Financial LLC raised its holdings in RTX by 0.7% during the second quarter. Gries Financial LLC now owns 9,780 shares of the company’s stock worth $1,428,000 after purchasing an additional 69 shares during the last quarter. M3 Advisory Group LLC grew its holdings in RTX by 2.7% in the second quarter. M3 Advisory Group LLC now owns 2,631 shares of the company’s stock valued at $384,000 after purchasing an additional 69 shares during the last quarter. TrueWealth Advisors LLC increased its position in shares of RTX by 3.6% in the second quarter. TrueWealth Advisors LLC now owns 2,007 shares of the company’s stock valued at $293,000 after buying an additional 70 shares in the last quarter. RMR Wealth Builders raised its stake in shares of RTX by 3.6% during the 2nd quarter. RMR Wealth Builders now owns 2,036 shares of the company’s stock worth $297,000 after buying an additional 70 shares during the last quarter. Finally, Verum Partners LLC boosted its position in shares of RTX by 1.8% in the 2nd quarter. Verum Partners LLC now owns 4,093 shares of the company’s stock worth $598,000 after buying an additional 73 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at RTX

In related news, insider Shane G. Eddy sold 25,968 shares of the firm’s stock in a transaction that occurred 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 legal filing with the SEC, which is available through this link. Also, insider Philip J. Jasper sold 12,847 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the completion of the sale, the insider owned 17,684 shares of the company’s stock, valued at approximately $2,790,888.88. The trade was a 42.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,635 shares of company stock worth $8,947,010. 0.15% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

RTX has been the subject of several recent research reports. Citigroup raised their target price on shares of RTX from $148.00 to $182.00 and gave the company a “buy” rating in a report on Monday, July 14th. Morgan Stanley raised their price objective on shares of RTX from $165.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $195.00 price objective on shares of RTX in a research report on Wednesday, October 8th. Wall Street Zen cut RTX from a “buy” rating to a “hold” rating in a report on Saturday, June 21st. Finally, Bank of America boosted their price target on RTX from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Two 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $164.13.

RTX Trading Down 1.5%

Shares of RTX stock opened at $156.94 on Thursday. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $170.85. The business’s fifty day moving average is $159.11 and its two-hundred day moving average is $145.47. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The firm has a market cap of $210.07 billion, a PE ratio of 34.49, a P/E/G ratio of 2.96 and a beta of 0.66.

RTX (NYSE:RTX) last released 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. RTX had a return on equity of 12.89% and a net margin of 7.35%.The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $20.68 billion. During the same period in the prior year, the firm posted $1.41 earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.

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.