Balentine LLC Buys New Shares in RTX Corporation $RTX

Balentine LLC bought a new stake in shares of RTX Corporation (NYSE:RTX) during the second quarter, Holdings Channel reports. The institutional investor bought 1,437 shares of the company’s stock, valued at approximately $210,000.

Other institutional investors also recently modified their holdings of the company. PFS Partners LLC lifted its position in shares of RTX by 101.1% during the 2nd quarter. PFS Partners LLC now owns 177 shares of the company’s stock valued at $26,000 after acquiring an additional 89 shares during the period. Summit Securities Group LLC acquired a new position in RTX during the first quarter worth $40,000. Briaud Financial Planning Inc raised its holdings in RTX by 25.4% during the second quarter. Briaud Financial Planning Inc now owns 321 shares of the company’s stock worth $46,000 after buying an additional 65 shares during the last quarter. Mid American Wealth Advisory Group Inc. acquired a new position in RTX during the second quarter worth $47,000. Finally, McClarren Financial Advisors Inc. acquired a new position in RTX during the first quarter worth $44,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RTX. The Goldman Sachs Group upped their price objective on shares of RTX from $151.00 to $168.00 and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Morgan Stanley set a $215.00 price objective on shares of RTX and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Barclays upped their price objective on shares of RTX from $130.00 to $153.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 29th. Wall Street Zen upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Finally, Susquehanna upped their price objective on shares of RTX from $175.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, October 22nd. Two research 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.com, RTX has a consensus rating of “Moderate Buy” and an average target price of $178.47.

RTX Stock Performance

Shares of RTX stock opened at $178.70 on Friday. The firm has a 50-day moving average of $163.32 and a 200-day moving average of $149.47. The company has a market cap of $239.60 billion, a P/E ratio of 36.69, a P/E/G ratio of 2.79 and a beta of 0.66. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.07 and a quick ratio of 0.81. RTX Corporation has a one year low of $112.27 and a one year high of $181.31.

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

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Friday, November 21st will be given a dividend of $0.68 per share. The ex-dividend date is Friday, November 21st. This represents a $2.72 annualized dividend and a yield of 1.5%. RTX’s dividend payout ratio is presently 55.85%.

Insider Activity at RTX

In related news, insider Troy D. Brunk sold 7,654 shares of the 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the stock in a transaction dated 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 owned 59,556 shares of the company’s stock, valued at approximately $10,729,013.40. The trade was a 7.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 51,318 shares of company stock worth $8,238,388 in the last ninety days. Corporate insiders own 0.15% of the company’s stock.

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.