Eastern Bank Lowers Holdings in RTX Corporation $RTX

Eastern Bank trimmed its position in RTX Corporation (NYSE:RTX) by 1.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,338 shares of the company’s stock after selling 488 shares during the period. Eastern Bank’s holdings in RTX were worth $5,598,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. MorganRosel Wealth Management LLC acquired a new position in shares of RTX during the 1st quarter worth $26,000. PFS Partners LLC boosted its holdings 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 buying an additional 89 shares in the last quarter. Summit Securities Group LLC acquired a new position in RTX during the first quarter worth about $40,000. McClarren Financial Advisors Inc. purchased a new position in RTX in the first quarter valued at about $44,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in RTX in the first quarter valued at about $50,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Bank of America raised their price objective on RTX from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Citigroup upped their target price on RTX from $148.00 to $182.00 and gave the company a “buy” rating in a report on Monday, July 14th. UBS Group lifted their price target on RTX from $166.00 to $177.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their price target on RTX from $145.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of RTX in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.13.

Insider Buying and Selling

In other news, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total value of $222,604.12. Following the transaction, the executive vice president directly owned 13,184 shares of the company’s stock, valued at $2,007,395.84. The trade was a 9.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Troy D. Brunk sold 7,654 shares of RTX stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total value of $1,187,900.80. Following the completion of the transaction, the insider directly owned 16,442 shares in the company, valued at $2,551,798.40. This represents a 31.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,635 shares of company stock worth $8,947,010 over the last ninety days. Insiders own 0.15% of the company’s stock.

RTX Stock Down 2.8%

RTX opened at $157.64 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. 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 business has a 50-day moving average of $159.00 and a two-hundred day moving average of $144.95. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $170.85.

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

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.