Griffin Asset Management Inc. Has $11.30 Million Stake in RTX Corporation $RTX

Griffin Asset Management Inc. decreased its position in RTX Corporation (NYSE:RTX) by 2.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 77,368 shares of the company’s stock after selling 2,052 shares during the period. RTX accounts for about 1.3% of Griffin Asset Management Inc.’s portfolio, making the stock its 21st largest holding. Griffin Asset Management Inc.’s holdings in RTX were worth $11,297,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in RTX. Nuveen LLC acquired a new position in shares of RTX in the first quarter valued at approximately $916,739,000. Goldman Sachs Group Inc. boosted its stake in shares of RTX by 28.0% in the first quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company’s stock valued at $845,784,000 after buying an additional 1,394,918 shares during the period. Vanguard Group Inc. boosted its stake in shares of RTX by 1.1% in the first quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company’s stock valued at $15,873,541,000 after buying an additional 1,357,328 shares during the period. 1832 Asset Management L.P. boosted its stake in shares of RTX by 1,178.2% in the first quarter. 1832 Asset Management L.P. now owns 1,212,353 shares of the company’s stock valued at $160,588,000 after buying an additional 1,117,506 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of RTX in the first quarter valued at approximately $130,194,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Buying and Selling

In other news, insider Shane G. Eddy sold 25,968 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $159.79, for a total value of $4,149,426.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Philip J. Jasper sold 12,847 shares of the 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 $2,790,888.88. The trade was a 42.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,635 shares of company stock worth $8,947,010 in the last ninety days. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RTX shares. Wall Street Zen cut RTX from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. 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 research note on Wednesday, July 23rd. Bank of America boosted their price target on RTX from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Morgan Stanley boosted their price target on RTX from $165.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Finally, Susquehanna raised their target price on RTX from $160.00 to $175.00 and gave the company a “positive” rating in a report on Wednesday, July 23rd. Two equities research 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $164.13.

RTX Trading Down 2.8%

Shares of RTX stock opened at $157.64 on Monday. The stock’s fifty day moving average price is $159.00 and its two-hundred day moving average price is $145.11. The company has a market cap of $211.01 billion, a PE ratio of 34.65, a P/E/G ratio of 2.93 and a beta of 0.66. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $170.85. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01.

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