Agate Pass Investment Management LLC Has $3.37 Million Stock Position in RTX Corporation $RTX

Agate Pass Investment Management LLC reduced its position in RTX Corporation (NYSE:RTX) by 0.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 23,058 shares of the company’s stock after selling 209 shares during the period. RTX comprises 1.4% of Agate Pass Investment Management LLC’s holdings, making the stock its 20th largest position. Agate Pass Investment Management LLC’s holdings in RTX were worth $3,367,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. MorganRosel Wealth Management LLC acquired a new stake in RTX during the first quarter worth approximately $26,000. PFS Partners LLC lifted its position in RTX by 101.1% during the second quarter. PFS Partners LLC now owns 177 shares of the company’s stock worth $26,000 after acquiring an additional 89 shares during the last quarter. Summit Securities Group LLC acquired a new stake in RTX during the first quarter worth approximately $40,000. McClarren Financial Advisors Inc. acquired a new stake in RTX during the first quarter worth approximately $44,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in RTX during the first quarter worth approximately $50,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on RTX. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RTX in a report on Wednesday. Wall Street Zen cut shares of RTX from a “buy” rating to a “hold” rating in a report on Saturday, June 21st. Sanford C. Bernstein raised their target price on shares of RTX from $157.00 to $181.00 and gave the stock a “market perform” rating in a report on Monday, October 6th. UBS Group raised their target price on shares of RTX from $166.00 to $177.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. 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 given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.13.

Insider Activity

In other RTX news, EVP Ramsaran Maharajh sold 1,462 shares of the business’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the sale, the executive vice president owned 13,184 shares of the company’s stock, valued at approximately $2,007,395.84. The trade was a 9.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Philip J. Jasper sold 12,847 shares of the business’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the sale, the insider directly owned 17,684 shares in the company, valued at approximately $2,790,888.88. The trade was a 42.08% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,635 shares of company stock valued at $8,947,010. 0.15% of the stock is currently owned by insiders.

RTX Stock Performance

Shares of NYSE:RTX opened at $157.64 on Friday. The company’s 50 day simple moving average is $159.00 and its 200 day simple moving average is $144.95. The stock has a market capitalization of $211.01 billion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 2.99 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 Corporation has a 1 year low of $112.27 and a 1 year high of $170.85.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.11. The firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The company’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.41 earnings per share. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, research analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

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.