RTX Corporation $RTX Shares Sold by Oak Asset Management LLC

Oak Asset Management LLC lowered its stake in shares of RTX Corporation (NYSE:RTX) by 6.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,081 shares of the company’s stock after selling 4,152 shares during the quarter. RTX makes up about 3.4% of Oak Asset Management LLC’s holdings, making the stock its 5th biggest position. Oak Asset Management LLC’s holdings in RTX were worth $10,053,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in RTX by 1.9% in the second quarter. Vanguard Group Inc. now owns 122,074,734 shares of the company’s stock valued at $17,825,353,000 after acquiring an additional 2,238,247 shares during the last quarter. State Street Corp increased its position in shares of RTX by 0.5% during the second quarter. State Street Corp now owns 112,706,833 shares of the company’s stock worth $16,457,452,000 after purchasing an additional 552,009 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of RTX by 4.2% in the 2nd quarter. Fisher Asset Management LLC now owns 20,599,190 shares of the company’s stock valued at $3,007,894,000 after purchasing an additional 837,268 shares during the last quarter. Norges Bank acquired a new stake in shares of RTX in the 2nd quarter valued at about $2,359,602,000. Finally, Massachusetts Financial Services Co. MA grew its stake in RTX by 9.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 15,958,191 shares of the company’s stock worth $2,330,215,000 after buying an additional 1,361,071 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Price Performance

Shares of NYSE:RTX opened at $183.93 on Wednesday. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $188.00. The company has a 50-day moving average price of $176.84 and a 200 day moving average price of $162.89. The company has a market cap of $246.61 billion, a P/E ratio of 37.77, a PEG ratio of 2.92 and a beta of 0.44. The company has a quick ratio of 0.81, a current ratio of 1.07 and a debt-to-equity ratio of 0.58.

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

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Friday, November 21st were issued a $0.68 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a $2.72 dividend on an annualized basis and a yield of 1.5%. RTX’s dividend payout ratio (DPR) is 55.85%.

Insider Activity at RTX

In other news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the company’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $180.15, for a total transaction of $873,547.35. Following the transaction, the executive vice president directly owned 59,556 shares of the company’s stock, valued at $10,729,013.40. This represents a 7.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. 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. Citigroup began coverage on shares of RTX in a research note on Thursday, December 11th. They set a “buy” rating and a $211.00 price target for the company. BNP Paribas upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, November 18th. JPMorgan Chase & Co. upped their target price on shares of RTX from $195.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, December 19th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $190.00 price target on shares of RTX in a report on Tuesday, November 25th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $184.18.

About RTX

RTX (NYSE: RTX) is a U.S.-based aerospace and defense company that designs, manufactures and services advanced systems for commercial, military and governmental customers worldwide. The company was created through the 2020 combination of Raytheon Company and United Technologies Corporation and later adopted the RTX name, positioning itself as a diversified provider across the aerospace and defense value chain.

RTX’s operations span a broad set of capabilities. Its commercial aerospace businesses include Pratt & Whitney aircraft engines and Collins Aerospace systems, which supply propulsion, avionics, aerostructures, interiors and integrated aircraft systems.