Resona Asset Management Co. Ltd. Acquires 22,692 Shares of RTX Corporation $RTX

Resona Asset Management Co. Ltd. grew its stake in shares of RTX Corporation (NYSE:RTX) by 5.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 445,595 shares of the company’s stock after purchasing an additional 22,692 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in RTX were worth $64,974,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Blue Barn Wealth LLC purchased a new stake in shares of RTX during the second quarter valued at $214,000. Crestwood Advisors Group LLC boosted its stake in shares of RTX by 2.7% during the second quarter. Crestwood Advisors Group LLC now owns 26,694 shares of the company’s stock valued at $3,898,000 after purchasing an additional 709 shares during the period. HFG Advisors Inc. bought a new stake in shares of RTX in the second quarter valued at about $236,000. Cassaday & Co Wealth Management LLC raised its holdings in shares of RTX by 49.3% in the second quarter. Cassaday & Co Wealth Management LLC now owns 10,593 shares of the company’s stock valued at $1,547,000 after acquiring an additional 3,500 shares in the last quarter. Finally, NewSquare Capital LLC raised its holdings in shares of RTX by 124.3% in the second quarter. NewSquare Capital LLC now owns 1,126 shares of the company’s stock valued at $164,000 after acquiring an additional 624 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at RTX

In other news, insider Troy D. Brunk sold 7,654 shares of the firm’s stock in a transaction that occurred 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Neil G. Mitchill, Jr. sold 4,849 shares of RTX stock in a transaction on Friday, October 24th. The shares were sold at an average price of $180.15, for a total transaction of $873,547.35. Following the completion of the sale, the executive vice president directly owned 59,556 shares in the company, valued at $10,729,013.40. This represents a 7.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 38,471 shares of company stock valued at $6,210,875 in the last 90 days. 0.15% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RTX shares. Morgan Stanley set a $215.00 price objective on RTX and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Citigroup boosted their target price on shares of RTX from $148.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, July 14th. Weiss Ratings restated a “buy (b)” rating on shares of RTX in a report on Friday, October 31st. Jefferies Financial Group restated a “hold” rating on shares of RTX in a report on Monday, July 21st. Finally, Bank of America upped their target price on RTX from $175.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Two equities 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.47.

RTX Trading Down 0.8%

RTX stock opened at $174.17 on Thursday. The firm has a market cap of $233.52 billion, a PE ratio of 35.76, a P/E/G ratio of 2.79 and a beta of 0.66. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $181.31. The stock’s 50 day simple moving average is $164.34 and its two-hundred day simple moving average is $150.59. The company has a current ratio of 1.07, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.29. The business had revenue of $22.48 billion for the quarter, compared to analysts’ expectations of $21.26 billion. RTX had a net margin of 7.67% and a return on equity of 13.28%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company earned $1.45 EPS. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. Analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Friday, November 21st will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.6%. RTX’s dividend payout ratio (DPR) is presently 55.85%.

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.