RTX (NYSE:RTX) Sets New 1-Year High on Strong Earnings

Shares of RTX Corporation (NYSE:RTX) hit a new 52-week high during mid-day trading on Tuesday following a stronger than expected earnings report. The company traded as high as $176.67 and last traded at $176.64, with a volume of 1137466 shares traded. The stock had previously closed at $160.71.

The company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.29. The business had revenue of $22.48 billion during the quarter, compared to the consensus estimate of $21.26 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%.RTX’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the company earned $1.45 earnings per share. RTX has set its FY 2025 guidance at 6.100-6.200 EPS.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Bank of America increased their price objective on RTX from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Citigroup increased their price objective on RTX from $148.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, July 14th. Sanford C. Bernstein increased their price objective on RTX from $157.00 to $181.00 and gave the stock a “market perform” rating in a report on Monday, October 6th. Morgan Stanley raised their price target on RTX from $165.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Finally, UBS Group raised their price target on RTX from $166.00 to $177.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, RTX currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.13.

Insiders Place Their Bets

In other news, insider Shane G. Eddy sold 25,968 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $159.79, for a total value of $4,149,426.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kevin G. Dasilva sold 8,704 shares of the firm’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 value of $1,359,564.80. Following the completion of the sale, the vice president directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 55,173 shares of company stock valued at $8,724,406. Corporate insiders own 0.15% of the company’s stock.

Institutional Trading of RTX

A number of hedge funds have recently made changes to their positions in the business. Gateway Investment Advisers LLC lifted its position in shares of RTX by 0.6% in the third quarter. Gateway Investment Advisers LLC now owns 547,567 shares of the company’s stock valued at $91,624,000 after buying an additional 3,528 shares during the last quarter. Arrow Financial Corp lifted its position in shares of RTX by 0.8% in the third quarter. Arrow Financial Corp now owns 7,334 shares of the company’s stock valued at $1,227,000 after buying an additional 61 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its position in shares of RTX by 3.7% in the third quarter. Fifth Third Wealth Advisors LLC now owns 36,059 shares of the company’s stock valued at $6,034,000 after buying an additional 1,277 shares during the last quarter. Penobscot Investment Management Company Inc. lifted its holdings in RTX by 3.6% during the 3rd quarter. Penobscot Investment Management Company Inc. now owns 48,427 shares of the company’s stock worth $8,103,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Fountainhead AM LLC lifted its holdings in RTX by 39.3% during the 3rd quarter. Fountainhead AM LLC now owns 3,027 shares of the company’s stock worth $507,000 after purchasing an additional 854 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Performance

The firm has a market capitalization of $231.57 billion, a price-to-earnings ratio of 38.02, a PEG ratio of 2.98 and a beta of 0.66. The company has a fifty day moving average of $159.66 and a two-hundred day moving average of $146.50. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01.

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.