Smith Salley Wealth Management Acquires 9,835 Shares of RTX Corporation $RTX

Smith Salley Wealth Management raised its stake in RTX Corporation (NYSE:RTX) by 4.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 227,175 shares of the company’s stock after acquiring an additional 9,835 shares during the quarter. RTX makes up 2.0% of Smith Salley Wealth Management’s holdings, making the stock its 11th biggest position. Smith Salley Wealth Management’s holdings in RTX were worth $38,013,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in RTX. Norges Bank bought a new position in RTX during the second quarter worth about $2,359,602,000. Laurel Wealth Advisors LLC boosted its position in shares of RTX by 14,974.7% in the second quarter. Laurel Wealth Advisors LLC now owns 3,598,943 shares of the company’s stock valued at $525,518,000 after acquiring an additional 3,575,069 shares during the period. Vanguard Group Inc. grew its stake in RTX by 1.9% during 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 in the last quarter. Massachusetts Financial Services Co. MA increased its holdings 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 acquiring an additional 1,361,071 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new position in RTX in the 1st quarter valued at $130,194,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of NYSE RTX opened at $183.93 on Wednesday. The stock’s 50-day moving average is $176.84 and its 200 day moving average is $162.89. The stock has a market cap of $246.61 billion, a price-to-earnings ratio of 37.77, a P/E/G ratio of 2.92 and a beta of 0.44. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $188.00. The company has a current ratio of 1.07, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.29. The business had revenue of $22.48 billion for the quarter, compared to analysts’ expectations of $21.26 billion. RTX had a net margin of 7.67% and a return on equity of 13.28%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the business earned $1.45 earnings per share. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. On average, sell-side analysts anticipate that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

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

Insider Activity

In other news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of RTX stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $180.15, for a total value of $873,547.35. Following the transaction, the executive vice president owned 59,556 shares in the company, valued at approximately $10,729,013.40. The trade was a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. UBS Group upped their price target on shares of RTX from $197.00 to $202.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. The Goldman Sachs Group upped their target price on RTX from $151.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Sanford C. Bernstein raised their price target on RTX from $157.00 to $181.00 and gave the company a “market perform” rating in a report on Monday, October 6th. Citigroup assumed coverage on RTX in a report on Thursday, December 11th. They set a “buy” rating and a $211.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $195.00 price objective on shares of RTX in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.18.

RTX Company Profile

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.