Horizon Bancorp Inc. IN Increases Stake in RTX Corporation $RTX

Horizon Bancorp Inc. IN lifted its stake in RTX Corporation (NYSE:RTX) by 93.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,823 shares of the company’s stock after purchasing an additional 1,843 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in RTX were worth $558,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in RTX by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company’s stock worth $15,873,541,000 after buying an additional 1,357,328 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in RTX by 1.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,351,568 shares of the company’s stock valued at $1,371,171,000 after acquiring an additional 104,139 shares during the period. Invesco Ltd. lifted its stake in RTX by 1.5% during the 1st quarter. Invesco Ltd. now owns 10,312,313 shares of the company’s stock valued at $1,365,969,000 after acquiring an additional 154,544 shares during the period. Dimensional Fund Advisors LP lifted its stake in RTX by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,713,131 shares of the company’s stock valued at $1,021,623,000 after acquiring an additional 65,493 shares during the period. Finally, Nuveen LLC acquired a new stake in RTX during the 1st quarter valued at approximately $916,739,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at RTX

In related news, insider Philip J. Jasper sold 12,847 shares of RTX stock in a transaction on Monday, August 4th. The shares were sold at an average price of $157.82, for a total value of $2,027,513.54. Following the sale, the insider owned 17,684 shares of the company’s stock, valued at approximately $2,790,888.88. This trade represents a 42.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kevin G. Dasilva sold 8,704 shares of RTX stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the completion of the sale, the vice president directly owned 30,004 shares in the company, valued at $4,686,624.80. This represents a 22.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,635 shares of company stock worth $8,947,010 in the last ninety days. Company insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. UBS Group lifted their price objective on shares of RTX from $166.00 to $177.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their price objective on shares of RTX from $145.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Citigroup lifted their price objective on shares of RTX from $148.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Sanford C. Bernstein lifted their target price on shares of RTX from $157.00 to $181.00 and gave the company a “market perform” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $195.00 target price on shares of RTX in a report on Wednesday. Two 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.13.

RTX Price Performance

NYSE:RTX opened at $162.08 on Friday. The company has a 50 day moving average price of $158.98 and a 200-day moving average price of $144.80. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $170.85. The firm has a market cap of $216.95 billion, a price-to-earnings ratio of 35.62, a price-to-earnings-growth ratio of 3.11 and a beta of 0.66. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company earned $1.41 EPS. The firm’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. Equities research analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

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.