Riverview Trust Co Lowers Holdings in RTX Corporation $RTX

Riverview Trust Co decreased its stake in RTX Corporation (NYSE:RTX) by 47.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,097 shares of the company’s stock after selling 988 shares during the quarter. Riverview Trust Co’s holdings in RTX were worth $160,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of RTX. Nuveen LLC purchased a new stake in shares of RTX in the first quarter worth about $916,739,000. Goldman Sachs Group Inc. raised its holdings in RTX by 28.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company’s stock worth $845,784,000 after purchasing an additional 1,394,918 shares during the period. Vanguard Group Inc. raised its holdings in RTX by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company’s stock worth $15,873,541,000 after purchasing an additional 1,357,328 shares during the period. 1832 Asset Management L.P. raised its holdings in RTX by 1,178.2% in the 1st quarter. 1832 Asset Management L.P. now owns 1,212,353 shares of the company’s stock worth $160,588,000 after purchasing an additional 1,117,506 shares during the period. Finally, Zurich Insurance Group Ltd FI acquired a new position in RTX in the 1st quarter worth about $130,194,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX stock opened at $167.37 on Thursday. The business has a 50 day simple moving average of $157.75 and a two-hundred day simple moving average of $143.42. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $168.28. The stock has a market capitalization of $224.03 billion, a P/E ratio of 36.78, a PEG ratio of 3.08 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 announced its earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%.The business had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $20.68 billion. During the same quarter in the prior year, the firm earned $1.41 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RTX. The Goldman Sachs Group upped their price target on RTX from $114.00 to $126.00 and gave the stock a “neutral” rating in a report on Monday, June 23rd. Sanford C. Bernstein upped their price target on RTX from $154.00 to $157.00 and gave the stock a “market perform” rating in a report on Wednesday, September 10th. Barclays upped their price target on RTX from $130.00 to $153.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 29th. UBS Group upped their price target on RTX from $166.00 to $177.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen cut RTX from a “buy” rating to a “hold” rating in a report on Saturday, June 21st. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $158.87.

Insider Transactions at RTX

In related news, insider Shane G. Eddy sold 25,968 shares of the 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 accessible through this link. Also, VP Kevin G. Dasilva sold 8,704 shares of the 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. This represents a 22.49% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,635 shares of company stock valued at $8,947,010. 0.15% of the stock is currently owned by company insiders.

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.