Pegasus Asset Management Inc. Increases Stake in RTX Corporation $RTX

Pegasus Asset Management Inc. raised its position in RTX Corporation (NYSE:RTX) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,183 shares of the company’s stock after purchasing an additional 1,109 shares during the quarter. RTX accounts for approximately 2.6% of Pegasus Asset Management Inc.’s holdings, making the stock its 15th biggest holding. Pegasus Asset Management Inc.’s holdings in RTX were worth $7,474,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new stake in shares of RTX in the first quarter worth approximately $26,000. PFS Partners LLC increased its stake in RTX by 101.1% in the second quarter. PFS Partners LLC now owns 177 shares of the company’s stock worth $26,000 after purchasing an additional 89 shares during the period. Summit Securities Group LLC purchased a new stake in RTX in the first quarter worth $40,000. McClarren Financial Advisors Inc. purchased a new stake in RTX in the first quarter worth $44,000. Finally, Financial Gravity Asset Management Inc. purchased a new stake in RTX in the first quarter worth $50,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at RTX

In other RTX news, VP Kevin G. Dasilva sold 8,704 shares of the business’s stock in a transaction that occurred 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 sale, the vice president owned 30,004 shares of the company’s stock, valued at approximately $4,686,624.80. The trade was a 22.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shane G. Eddy sold 25,968 shares of the business’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $159.79, for a total value of $4,149,426.72. 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 90 days. 0.15% of the stock is owned by insiders.

RTX Price Performance

RTX opened at $157.64 on Monday. The business’s 50-day moving average is $159.00 and its two-hundred day moving average is $145.11. 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 Corporation has a 1 year low of $112.27 and a 1 year high of $170.85. The firm has a market capitalization of $211.01 billion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 2.93 and a beta of 0.66.

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, topping 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 business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same period in the previous year, the company earned $1.41 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $170.00 price target (up previously from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Citigroup raised their target price on shares of RTX from $148.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. Jefferies Financial Group reaffirmed a “hold” rating on shares of RTX in a research report on Monday, July 21st. Morgan Stanley raised their price objective on RTX from $165.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Finally, The Goldman Sachs Group raised their price objective on RTX from $114.00 to $126.00 and gave the stock a “neutral” rating in a report on Monday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $164.13.

About RTX

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.