Sprucegrove Investment Management Ltd. Sells 37,600 Shares of RTX Corporation $RTX

Sprucegrove Investment Management Ltd. trimmed its position in shares of RTX Corporation (NYSE:RTX) by 27.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,630 shares of the company’s stock after selling 37,600 shares during the quarter. RTX accounts for 1.2% of Sprucegrove Investment Management Ltd.’s portfolio, making the stock its 17th largest position. Sprucegrove Investment Management Ltd.’s holdings in RTX were worth $14,694,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. PFS Partners LLC increased 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 worth $26,000 after acquiring an additional 89 shares in the last quarter. Access Investment Management LLC acquired a new position in shares of RTX in the 2nd quarter valued at approximately $31,000. Summit Securities Group LLC acquired a new position in shares of RTX in the 1st quarter valued at approximately $40,000. McClarren Financial Advisors Inc. bought a new stake in RTX during the 1st quarter worth approximately $44,000. Finally, Briaud Financial Planning Inc raised its holdings in RTX by 25.4% during the 2nd quarter. Briaud Financial Planning Inc now owns 321 shares of the company’s stock worth $46,000 after buying an additional 65 shares during the period. Institutional investors own 86.50% of the company’s stock.

RTX Trading Down 0.8%

RTX stock opened at $174.17 on Thursday. The company has a market cap of $233.52 billion, a price-to-earnings ratio of 35.76, a P/E/G ratio of 2.79 and a beta of 0.66. The firm has a 50-day moving average of $164.34 and a 200-day moving average of $150.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.07 and a quick ratio of 0.81. RTX Corporation has a one year low of $112.27 and a one year high of $181.31.

RTX (NYSE:RTX) last released its 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. The business had revenue of $22.48 billion for the quarter, compared to analyst estimates of $21.26 billion. RTX had a return on equity of 13.28% and a net margin of 7.67%.RTX’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.45 earnings per share. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. On average, equities analysts expect that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

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

Analysts Set New Price Targets

RTX has been the subject of several research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of RTX in a report on Friday, October 31st. Bank of America boosted their price objective on shares of RTX from $175.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Royal Bank Of Canada reiterated an “outperform” rating and set a $170.00 target price (up previously from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $195.00 price target on shares of RTX in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on RTX from $145.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $178.47.

Insiders Place Their Bets

In other news, insider Troy D. Brunk sold 7,654 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total value of $1,187,900.80. Following the sale, the insider directly owned 16,442 shares of the company’s stock, valued at approximately $2,551,798.40. This represents a 31.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shane G. Eddy sold 25,968 shares of RTX stock in a transaction dated Wednesday, August 27th. The stock was 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. Over the last three months, insiders have sold 38,471 shares of company stock valued at $6,210,875. 0.15% of the stock is currently owned by corporate insiders.

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.