DecisionMap Wealth Management Reduces Stake in RTX Corporation

DecisionMap Wealth Management LLC has reduced its stake in RTX Corporation (NYSE: RTX) by 12.8% during the second quarter of 2023, according to a report from HoldingsChannel. The institutional investor now holds 4,571 shares of RTX, following the sale of 671 shares during this period. As of its most recent filing with the Securities & Exchange Commission, DecisionMap’s holdings in the aerospace and defense company are valued at approximately $667,000.

Several other institutional investors have also made adjustments to their positions in RTX. For instance, Gries Financial LLC increased its holdings by 0.7% during the same quarter, acquiring an additional 69 shares for a total of 9,780 shares, worth about $1,428,000. Similarly, M3 Advisory Group LLC boosted its stake by 2.7%, now owning 2,631 shares valued at $384,000 after purchasing 69 shares.

Other notable institutional activities include TrueWealth Advisors LLC, which expanded its position by 3.6%, and RMR Wealth Builders, which also increased its stake by 3.6%. Verum Partners LLC raised its holdings by 1.8%, bringing its total to 4,093 shares worth approximately $598,000. Collectively, institutional investors and hedge funds own 86.5% of RTX’s stock.

Analysts Adjust Price Targets for RTX

RTX has been the subject of multiple recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating for the stock and set a target price of $195.00. Meanwhile, Citigroup raised its target from $148.00 to $182.00, maintaining a “buy” rating. The Goldman Sachs Group also increased its target price from $114.00 to $126.00, rating the stock as “neutral.”

Additionally, UBS Group raised its price target from $166.00 to $177.00, continuing to endorse a “buy” rating. JPMorgan Chase & Co. lifted its price objective from $145.00 to $175.00, designating the stock as “overweight.” Currently, two analysts have rated RTX as a Strong Buy, fourteen have given it a Buy rating, and five have issued a Hold rating. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” with an average price target of $164.13.

Current Stock Performance and Insider Activity

On Tuesday, the stock opened at $160.63, with a market capitalization of $215.02 billion. RTX has demonstrated a price-to-earnings ratio of 35.30 and a PEG ratio of 2.93. The company’s 50-day moving average stands at $159.31, while its 200-day moving average is $146.31. Over the past year, RTX has seen a low of $112.27 and a high of $170.85.

The most recent quarterly earnings report, released on July 22, 2023, showed earnings per share of $1.56, surpassing analysts’ expectations of $1.45 by $0.11. The company posted revenues of $21.58 billion, exceeding the consensus estimate of $20.68 billion. This represents a 9.4% increase in revenue compared to the same quarter last year.

In terms of insider trading, Philip J. Jasper, an insider at RTX, sold 12,847 shares on August 4, 2023, at an average price of $157.82, totaling approximately $2,027,513.54. Following this transaction, Jasper retained 17,684 shares valued at about $2,790,888.88. Furthermore, on August 27, 2023, Shane G. Eddy sold 25,968 shares for a total of $4,149,426.72. In the last ninety days, insiders have sold 56,635 shares valued at approximately $8,947,010, with insiders currently holding 0.15% of the company’s stock.

RTX Corporation, headquartered in the United States, provides systems and services for commercial, military, and governmental clients globally. The company operates through three main segments: Collins Aerospace, Pratt & Whitney, and Raytheon.