Penobscot Investment Management Company Inc. Raises Stock Position in RTX Corporation $RTX

Penobscot Investment Management Company Inc. grew its stake in shares of RTX Corporation (NYSE:RTX) by 1.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,727 shares of the company’s stock after acquiring an additional 580 shares during the period. Penobscot Investment Management Company Inc.’s holdings in RTX were worth $6,823,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of RTX. Signature Wealth Management Partners LLC raised its position in RTX by 4.9% during the 2nd quarter. Signature Wealth Management Partners LLC now owns 10,672 shares of the company’s stock valued at $1,558,000 after purchasing an additional 500 shares in the last quarter. Sava Infond d.o.o. grew its position in shares of RTX by 25.4% during the 2nd quarter. Sava Infond d.o.o. now owns 14,800 shares of the company’s stock worth $2,161,000 after buying an additional 3,000 shares in the last quarter. Quent Capital LLC increased its stake in shares of RTX by 17.3% during the second quarter. Quent Capital LLC now owns 3,430 shares of the company’s stock valued at $501,000 after buying an additional 506 shares during the period. QRG Capital Management Inc. raised its holdings in shares of RTX by 10.2% in the second quarter. QRG Capital Management Inc. now owns 212,273 shares of the company’s stock valued at $30,996,000 after acquiring an additional 19,668 shares in the last quarter. Finally, Successful Portfolios LLC lifted its stake in RTX by 2.4% in the second quarter. Successful Portfolios LLC now owns 8,014 shares of the company’s stock worth $1,170,000 after acquiring an additional 185 shares during the period. Institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on RTX. Citigroup raised their target price on shares of RTX from $148.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Morgan Stanley increased their price objective on shares of RTX from $165.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. The Goldman Sachs Group boosted their price objective on shares of RTX from $114.00 to $126.00 and gave the stock a “neutral” rating in a research note on Monday, June 23rd. Susquehanna increased their target price on RTX from $160.00 to $175.00 and gave the company a “positive” rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $170.00 price target (up from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $158.87.

RTX Stock Performance

Shares of RTX opened at $166.73 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a market cap of $223.18 billion, a PE ratio of 36.64, a P/E/G ratio of 3.07 and a beta of 0.66. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $168.28. The stock has a fifty day moving average price of $158.18 and a 200-day moving average price of $143.89.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%.The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same period in the prior year, the company posted $1.41 EPS. The firm’s quarterly 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. Equities research analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

Insider Activity

In other RTX news, insider Philip J. Jasper sold 12,847 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the transaction, the insider owned 17,684 shares in the company, valued at approximately $2,790,888.88. This represents a 42.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Shane G. Eddy sold 25,968 shares of RTX stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $159.79, for a total transaction of $4,149,426.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,635 shares of company stock valued at $8,947,010. 0.15% of the stock is owned by company insiders.

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.