Biltmore Family Office LLC Sells 1,138 Shares of RTX Corporation $RTX

Biltmore Family Office LLC lowered its stake in shares of RTX Corporation (NYSE:RTX) by 26.7% during the second quarter, HoldingsChannel reports. The fund owned 3,122 shares of the company’s stock after selling 1,138 shares during the quarter. Biltmore Family Office LLC’s holdings in RTX were worth $456,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Mendel Money Management increased its position in RTX by 209.1% during the second quarter. Mendel Money Management now owns 30,191 shares of the company’s stock worth $4,408,000 after acquiring an additional 20,423 shares during the period. James Investment Research Inc. bought a new position in RTX during the second quarter worth $816,000. Providence First Trust Co increased its position in RTX by 0.8% during the second quarter. Providence First Trust Co now owns 17,220 shares of the company’s stock worth $2,514,000 after acquiring an additional 137 shares during the period. Strategic Financial Services Inc. increased its position in RTX by 17.7% during the second quarter. Strategic Financial Services Inc. now owns 2,718 shares of the company’s stock worth $397,000 after acquiring an additional 409 shares during the period. Finally, New York Life Investment Management LLC increased its position in RTX by 2.0% during the second quarter. New York Life Investment Management LLC now owns 182,123 shares of the company’s stock worth $26,594,000 after acquiring an additional 3,503 shares during the period. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other news, insider Philip J. Jasper sold 12,847 shares of the company’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $157.82, for a total value of $2,027,513.54. Following the completion of the sale, the insider directly owned 17,684 shares of the company’s stock, valued at $2,790,888.88. This represents a 42.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Shane G. Eddy sold 25,968 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $159.79, for a total value of $4,149,426.72. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 51,318 shares of company stock valued at $8,238,388. 0.15% of the stock is currently owned by company insiders.

RTX Stock Down 0.3%

Shares of NYSE RTX opened at $178.76 on Wednesday. The firm’s 50-day simple moving average is $162.06 and its 200 day simple moving average is $148.59. The company has a market cap of $239.67 billion, a price-to-earnings ratio of 36.71, a price-to-earnings-growth ratio of 3.11 and a beta of 0.66. The company has a quick ratio of 0.81, a current ratio of 1.07 and a debt-to-equity ratio of 0.58. RTX Corporation has a 12-month low of $112.27 and a 12-month high of $181.31.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.29. RTX had a net margin of 7.67% and a return on equity of 13.28%. The business had revenue of $22.48 billion for the quarter, compared to the consensus estimate of $21.26 billion. During the same quarter in the prior year, the company earned $1.45 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. On average, research 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 equities research analysts have weighed in on RTX shares. Bank of America lifted their price target on shares of RTX from $175.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday. Susquehanna lifted their price target on shares of RTX from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, October 22nd. Citigroup lifted their price target on shares of RTX from $148.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Robert W. Baird set a $203.00 price target on shares of RTX in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of RTX in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $178.47.

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.