Garner Asset Management Corp Sells 571 Shares of RTX Corporation $RTX

Garner Asset Management Corp decreased its holdings in RTX Corporation (NYSE:RTX) by 11.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,333 shares of the company’s stock after selling 571 shares during the period. Garner Asset Management Corp’s holdings in RTX were worth $633,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. PFS Partners LLC lifted its stake in shares of RTX by 101.1% during the 2nd quarter. PFS Partners LLC now owns 177 shares of the company’s stock worth $26,000 after purchasing an additional 89 shares during the last quarter. LFA Lugano Financial Advisors SA bought a new position in RTX in the second quarter worth about $29,000. Access Investment Management LLC purchased a new stake in shares of RTX during the second quarter valued at about $31,000. BOK Financial Private Wealth Inc. boosted its holdings in shares of RTX by 45.3% in the 2nd quarter. BOK Financial Private Wealth Inc. now owns 250 shares of the company’s stock valued at $37,000 after buying an additional 78 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of RTX in the 1st quarter worth approximately $40,000. Institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $195.00 price objective on shares of RTX in a research note on Wednesday, October 8th. The Goldman Sachs Group increased their price objective on RTX from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Robert W. Baird set a $203.00 price objective on RTX in a research report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of RTX in a research report on Friday, October 31st. Finally, UBS Group raised their price target on RTX from $197.00 to $202.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.00.

Insiders Place Their Bets

In other RTX news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 59,556 shares of the company’s stock, valued at approximately $10,729,013.40. This trade represents a 7.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.15% of the company’s stock.

RTX Price Performance

NYSE RTX opened at $173.23 on Thursday. The company has a market cap of $232.26 billion, a price-to-earnings ratio of 35.57, a PEG ratio of 2.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.07 and a quick ratio of 0.81. The stock’s fifty day moving average price is $169.60 and its 200 day moving average price is $155.75. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $181.31.

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 the consensus estimate of $1.41 by $0.29. The business had revenue of $22.48 billion for the quarter, compared to the consensus estimate of $21.26 billion. RTX had a return on equity of 13.28% and a net margin of 7.67%.The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.45 EPS. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. As a group, equities research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

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 given a $0.68 dividend. The ex-dividend date is Friday, November 21st. This represents a $2.72 dividend on an annualized basis and a yield of 1.6%. RTX’s dividend payout ratio is currently 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.