Atalanta Sosnoff Capital LLC Sells 22,040 Shares of RTX Corporation $RTX

Atalanta Sosnoff Capital LLC decreased its holdings in shares of RTX Corporation (NYSE:RTX) by 2.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 753,229 shares of the company’s stock after selling 22,040 shares during the quarter. RTX accounts for approximately 2.2% of Atalanta Sosnoff Capital LLC’s portfolio, making the stock its 11th largest position. Atalanta Sosnoff Capital LLC owned about 0.06% of RTX worth $109,987,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of RTX by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 122,074,734 shares of the company’s stock valued at $17,825,353,000 after purchasing an additional 2,238,247 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in RTX by 9.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 15,958,191 shares of the company’s stock worth $2,330,215,000 after acquiring an additional 1,361,071 shares during the period. Franklin Resources Inc. boosted its stake in shares of RTX by 1.4% during the 2nd quarter. Franklin Resources Inc. now owns 15,575,867 shares of the company’s stock valued at $2,274,388,000 after purchasing an additional 221,984 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in RTX by 0.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 10,436,351 shares of the company’s stock worth $1,523,917,000 after purchasing an additional 84,783 shares during the period. Finally, Invesco Ltd. grew its stake in RTX by 1.5% in the first quarter. Invesco Ltd. now owns 10,312,313 shares of the company’s stock worth $1,365,969,000 after purchasing an additional 154,544 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on RTX. UBS Group lifted their price objective on RTX from $197.00 to $202.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Morgan Stanley set a $215.00 price objective on RTX and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. The Goldman Sachs Group raised their target price on shares of RTX from $151.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. BNP Paribas upgraded RTX to a “strong-buy” rating in a research note on Tuesday, November 18th. Finally, BNP Paribas Exane assumed coverage on RTX in a report on Tuesday, November 18th. They issued an “outperform” rating and a $210.00 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, RTX has a consensus rating of “Moderate Buy” and an average price target of $180.44.

RTX Stock Performance

Shares of RTX stock opened at $169.62 on Monday. The company has a market capitalization of $227.42 billion, a PE ratio of 34.83, a price-to-earnings-growth ratio of 2.79 and a beta of 0.64. The stock’s fifty day moving average is $168.73 and its two-hundred day moving average is $155.01. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $181.31. The company has a quick ratio of 0.81, a current ratio of 1.07 and a debt-to-equity ratio of 0.58.

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. RTX had a net margin of 7.67% and a return on equity of 13.28%. The firm had revenue of $22.48 billion during the quarter, compared to the consensus estimate of $21.26 billion. During the same quarter in the previous year, the firm posted $1.45 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. As a group, analysts expect that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Friday, November 21st will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, November 21st. RTX’s payout ratio is currently 55.85%.

Insider Activity

In other news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $180.15, for a total transaction of $873,547.35. Following the sale, the executive vice president directly owned 59,556 shares in the company, valued at $10,729,013.40. This trade represents a 7.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shane G. Eddy sold 25,968 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $159.79, for a total transaction of $4,149,426.72. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.15% of the company’s stock.

RTX Company 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.