Avidian Wealth Enterprises LLC Boosts Stake in RTX Corporation $RTX

Avidian Wealth Enterprises LLC lifted its holdings in shares of RTX Corporation (NYSE:RTX) by 2.8% during the second quarter, Holdings Channel reports. The fund owned 11,650 shares of the company’s stock after purchasing an additional 320 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in RTX were worth $1,701,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Drive Wealth Management LLC grew its stake in RTX by 2.9% during the 2nd quarter. Drive Wealth Management LLC now owns 5,319 shares of the company’s stock valued at $777,000 after purchasing an additional 151 shares in the last quarter. Canvas Wealth Advisors LLC purchased a new position in shares of RTX during the 2nd quarter valued at approximately $254,000. Princeton Global Asset Management LLC grew its position in shares of RTX by 227,607.7% during the second quarter. Princeton Global Asset Management LLC now owns 29,602 shares of the company’s stock worth $4,322,000 after buying an additional 29,589 shares in the last quarter. Schnieders Capital Management LLC increased its stake in shares of RTX by 3.1% in the second quarter. Schnieders Capital Management LLC now owns 20,900 shares of the company’s stock worth $3,052,000 after buying an additional 623 shares during the last quarter. Finally, Evermay Wealth Management LLC raised its holdings in RTX by 0.7% in the second quarter. Evermay Wealth Management LLC now owns 10,972 shares of the company’s stock valued at $1,602,000 after acquiring an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Up 7.6%

NYSE:RTX opened at $173.00 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average of $159.66 and a 200-day moving average of $146.50. The firm has a market capitalization of $231.57 billion, a PE ratio of 38.02, a price-to-earnings-growth ratio of 2.98 and a beta of 0.66. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $178.76.

RTX (NYSE:RTX) last announced its quarterly 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. RTX had a return on equity of 12.89% and a net margin of 7.35%.The business had revenue of $22.48 billion for the quarter, compared to the consensus estimate of $21.26 billion. During the same quarter last year, the business posted $1.45 EPS. The business’s revenue was up 11.9% on a year-over-year basis. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. Analysts predict that RTX Corporation will post 6.11 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Citigroup boosted their target price on shares of RTX from $148.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. Barclays upped their price objective on RTX from $130.00 to $153.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. lifted their target price on RTX from $145.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $195.00 price target on shares of RTX in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $170.00 price objective (up from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.13.

Insider Buying and Selling

In other news, insider Troy D. Brunk sold 7,654 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the completion of the transaction, the insider owned 16,442 shares in the company, valued at approximately $2,551,798.40. This represents a 31.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shane G. Eddy sold 25,968 shares of the stock in a transaction dated Wednesday, August 27th. The stock was 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 ninety days, insiders have sold 55,173 shares of company stock valued at $8,724,406. 0.15% of the stock is owned by corporate insiders.

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.