Convergence Investment Partners LLC Decreases Holdings in RTX Corporation $RTX

Convergence Investment Partners LLC decreased its position in shares of RTX Corporation (NYSE:RTX) by 1.4% in the second quarter, HoldingsChannel reports. The fund owned 8,818 shares of the company’s stock after selling 125 shares during the quarter. Convergence Investment Partners LLC’s holdings in RTX were worth $1,288,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bay Capital Advisors LLC purchased a new position in shares of RTX in the first quarter worth $224,000. Brookwood Investment Group LLC purchased a new position in shares of RTX in the first quarter worth $1,288,000. LBP AM SA raised its holdings in shares of RTX by 17.7% in the first quarter. LBP AM SA now owns 279,179 shares of the company’s stock worth $36,980,000 after buying an additional 41,990 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of RTX by 1.4% in the first quarter. Arizona State Retirement System now owns 390,617 shares of the company’s stock worth $51,741,000 after buying an additional 5,356 shares during the last quarter. Finally, Redwood Financial Network Corp purchased a new position in shares of RTX in the first quarter worth $243,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other RTX news, insider Philip J. Jasper sold 12,847 shares of RTX stock in a transaction on Monday, August 4th. The shares were sold at an average price of $157.82, for a total value of $2,027,513.54. Following the completion of the transaction, the insider owned 17,684 shares of the company’s stock, valued at approximately $2,790,888.88. The trade was a 42.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shane G. Eddy sold 25,968 shares of RTX 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 can be found here. Over the last quarter, insiders sold 46,469 shares of company stock valued at $7,364,841. Corporate insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on RTX shares. Wall Street Zen raised shares of RTX from a “hold” rating to a “buy” rating in a report on Saturday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $195.00 price objective on shares of RTX in a research note on Wednesday, October 8th. Sanford C. Bernstein increased their price objective on shares of RTX from $157.00 to $181.00 and gave the stock a “market perform” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of RTX in a research note on Wednesday, October 8th. Finally, Barclays increased their price objective on shares of RTX from $130.00 to $153.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $175.80.

RTX Stock Down 0.4%

RTX opened at $178.79 on Monday. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $180.50. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.07. The company has a fifty day moving average of $161.09 and a two-hundred day moving average of $147.87. The stock has a market capitalization of $239.72 billion, a price-to-earnings ratio of 36.71, a PEG ratio of 3.12 and a beta of 0.66.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, October 21st. The company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.29. RTX had a net margin of 7.67% and a return on equity of 13.28%. The company had revenue of $22.48 billion during the quarter, compared to analysts’ expectations of $21.26 billion. During the same quarter in the previous year, the company earned $1.45 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. On average, research analysts expect that RTX Corporation will post 6.11 earnings per share for the current year.

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.