Adell Harriman & Carpenter Inc. Buys 2,586 Shares of RTX Corporation $RTX

Adell Harriman & Carpenter Inc. lifted its stake in RTX Corporation (NYSE:RTX) by 2.9% during the second quarter, HoldingsChannel.com reports. The firm owned 91,552 shares of the company’s stock after purchasing an additional 2,586 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in RTX were worth $13,369,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. PFS Partners LLC boosted its position in shares of RTX by 101.1% in the 2nd quarter. PFS Partners LLC now owns 177 shares of the company’s stock worth $26,000 after purchasing an additional 89 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of RTX in the 1st quarter worth approximately $40,000. Briaud Financial Planning Inc boosted its position in shares of RTX by 25.4% in the 2nd quarter. Briaud Financial Planning Inc now owns 321 shares of the company’s stock worth $46,000 after purchasing an additional 65 shares in the last quarter. Mid American Wealth Advisory Group Inc. bought a new stake in shares of RTX in the 2nd quarter worth approximately $47,000. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of RTX in the 1st quarter worth approximately $44,000. 86.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RTX has been the subject of several recent analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $170.00 target price (up from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Sanford C. Bernstein lifted 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. Bank of America lifted their target price on shares of RTX from $175.00 to $215.00 and gave the stock a “buy” rating in a report on Monday. Jefferies Financial Group reaffirmed a “hold” rating on shares of RTX in a report on Monday, July 21st. Finally, JPMorgan Chase & Co. lifted their target price on shares of RTX from $145.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Two investment 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $178.47.

Insider Buying and Selling 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 shares were sold at an average price of $159.79, for a total value of $4,149,426.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Philip J. Jasper sold 12,847 shares of the stock in a transaction that occurred 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 completion of the sale, the insider directly owned 17,684 shares of the company’s stock, valued at $2,790,888.88. This represents a 42.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 51,318 shares of company stock valued at $8,238,388 over the last three months. Insiders own 0.15% of the company’s stock.

RTX Stock Performance

RTX stock opened at $176.28 on Thursday. The company has a market cap of $236.35 billion, a P/E ratio of 36.20, a price-to-earnings-growth ratio of 2.83 and a beta of 0.66. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $181.31. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.07 and a quick ratio of 0.81. The stock’s fifty day moving average price is $162.45 and its 200-day moving average price is $148.93.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 21st. The company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.29. RTX had a net margin of 7.67% and a return on equity of 13.28%. The business had revenue of $22.48 billion for the quarter, compared to the consensus estimate of $21.26 billion. During the same period last year, the firm earned $1.45 earnings per share. The company’s quarterly revenue 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, equities analysts forecast 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.