Herbst Group LLC Has $5.77 Million Stake in RTX Corporation $RTX

Herbst Group LLC trimmed its stake in shares of RTX Corporation (NYSE:RTX) by 2.2% in the 2nd quarter, Holdings Channel reports. The firm owned 39,502 shares of the company’s stock after selling 872 shares during the period. RTX accounts for approximately 3.5% of Herbst Group LLC’s holdings, making the stock its 7th biggest position. Herbst Group LLC’s holdings in RTX were worth $5,768,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bay Capital Advisors LLC purchased a new stake in RTX during the first quarter valued at $224,000. Dynamic Advisor Solutions LLC grew its stake in shares of RTX by 8.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 34,657 shares of the company’s stock valued at $4,591,000 after purchasing an additional 2,686 shares during the period. Brookwood Investment Group LLC purchased a new stake in shares of RTX during the 1st quarter valued at about $1,288,000. LBP AM SA lifted its stake in shares of RTX by 17.7% in the 1st quarter. LBP AM SA now owns 279,179 shares of the company’s stock worth $36,980,000 after purchasing an additional 41,990 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of RTX by 1.4% in the 1st quarter. Arizona State Retirement System now owns 390,617 shares of the company’s stock worth $51,741,000 after purchasing an additional 5,356 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity

In other RTX news, insider Troy D. Brunk sold 7,654 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the completion of the transaction, the insider owned 16,442 shares in the company, valued at $2,551,798.40. This trade represents a 31.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Kevin G. Dasilva sold 8,704 shares of the company’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $156.20, for a total value of $1,359,564.80. Following the sale, the vice president directly owned 30,004 shares in the company, valued at $4,686,624.80. This trade represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,635 shares of company stock valued at $8,947,010. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Susquehanna boosted their target price on shares of RTX from $160.00 to $175.00 and gave the company a “positive” rating in a research report on Wednesday, July 23rd. Sanford C. Bernstein boosted their price objective on shares of RTX from $154.00 to $157.00 and gave the company a “market perform” rating in a research report on Wednesday, September 10th. Bank of America upped their price objective on RTX from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. The Goldman Sachs Group raised their target price on RTX from $114.00 to $126.00 and gave the stock a “neutral” rating in a report on Monday, June 23rd. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $170.00 price target (up previously from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, RTX has a consensus rating of “Moderate Buy” and a consensus price target of $158.87.

RTX Stock Up 0.7%

NYSE RTX opened at $161.59 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $163.03. The stock’s 50 day moving average is $156.52 and its 200 day moving average is $142.18. The stock has a market cap of $216.30 billion, a PE ratio of 35.51, a P/E/G ratio of 2.96 and a beta of 0.67.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.11. RTX had a net margin of 7.35% and a return on equity of 12.89%. The firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $20.68 billion. During the same quarter last year, the business posted $1.41 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Research analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 15th were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, August 15th. RTX’s dividend payout ratio is 59.78%.

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.