Alpha Cubed Investments LLC Sells 5,020 Shares of RTX Corporation $RTX

Alpha Cubed Investments LLC reduced its position in shares of RTX Corporation (NYSE:RTX) by 25.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 14,488 shares of the company’s stock after selling 5,020 shares during the period. Alpha Cubed Investments LLC’s holdings in RTX were worth $2,115,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RTX. Cornerstone Advisory LLC raised its stake in shares of RTX by 0.9% in the second quarter. Cornerstone Advisory LLC now owns 7,490 shares of the company’s stock valued at $1,094,000 after acquiring an additional 64 shares during the last quarter. Briaud Financial Planning Inc increased its holdings in RTX by 25.4% during the 2nd quarter. Briaud Financial Planning Inc now owns 321 shares of the company’s stock valued at $46,000 after purchasing an additional 65 shares in the last quarter. Gries Financial LLC raised its position in RTX by 0.7% in the 2nd quarter. Gries Financial LLC now owns 9,780 shares of the company’s stock valued at $1,428,000 after purchasing an additional 69 shares during the last quarter. M3 Advisory Group LLC boosted its stake in RTX by 2.7% in the second quarter. M3 Advisory Group LLC now owns 2,631 shares of the company’s stock worth $384,000 after purchasing an additional 69 shares in the last quarter. Finally, Aurdan Capital Management LLC grew its holdings in shares of RTX by 2.3% during the second quarter. Aurdan Capital Management LLC now owns 3,012 shares of the company’s stock worth $440,000 after purchasing an additional 69 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. The Goldman Sachs Group lifted their price target on RTX from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Wall Street Zen raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $195.00 price target on shares of RTX in a research note on Wednesday, October 8th. Bank of America boosted their price objective on shares of RTX from $175.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Finally, Morgan Stanley set a $215.00 price objective on RTX and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $178.47.

Insider Activity

In other RTX news, insider Troy D. Brunk sold 7,654 shares of the company’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 value of $1,187,900.80. Following the completion of the sale, the insider owned 16,442 shares of the company’s stock, valued at approximately $2,551,798.40. This represents a 31.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shane G. Eddy sold 25,968 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $159.79, for a total transaction of $4,149,426.72. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 38,471 shares of company stock valued at $6,210,875 in the last ninety days. 0.15% of the stock is owned by insiders.

RTX Price Performance

Shares of RTX stock opened at $177.01 on Monday. The firm’s 50 day moving average price is $164.99 and its two-hundred day moving average price is $151.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.07. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $181.31. The stock has a market cap of $237.33 billion, a PE ratio of 36.35, a PEG ratio of 2.79 and a beta of 0.64.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.29. RTX had a return on equity of 13.28% and a net margin of 7.67%.The company 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 business posted $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. As a group, analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Friday, November 21st will be issued a dividend of $0.68 per share. The ex-dividend date is Friday, November 21st. This represents a $2.72 dividend on an annualized basis and a yield of 1.5%. RTX’s dividend payout ratio (DPR) is 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.