RTX Corporation $RTX Stock: Commonwealth Equity Services LLC Cuts Position

Commonwealth Equity Services LLC lessened its stake in RTX Corporation (NYSE:RTX) by 5.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 776,963 shares of the company’s stock after selling 43,522 shares during the quarter. Commonwealth Equity Services LLC’s holdings in RTX were worth $144,243,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fortress Financial Group LLC acquired a new position in RTX during the second quarter worth about $358,000. Evergreen Advisors LLC purchased a new position in RTX in the first quarter valued at about $31,000. Signature Resources Capital Management LLC increased its holdings in RTX by 111.5% in the first quarter. Signature Resources Capital Management LLC now owns 184 shares of the company’s stock valued at $36,000 after buying an additional 97 shares in the last quarter. BOK Financial Private Wealth Inc. purchased a new position in RTX in the second quarter valued at about $36,000. Finally, Next Level Wealth Planning LLC purchased a new position in RTX in the third quarter valued at about $41,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Price Performance

Shares of NYSE RTX opened at $191.97 on Friday. The stock has a market cap of $259.05 billion, a price-to-earnings ratio of 31.16, a PEG ratio of 2.21 and a beta of 0.30. RTX Corporation has a 52 week low of $166.74 and a 52 week high of $226.88. The company’s 50-day moving average price is $193.91 and its 200 day moving average price is $195.56. The company has a current ratio of 1.05, a quick ratio of 0.81 and a debt-to-equity ratio of 0.44.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 20th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.48. RTX had a net margin of 8.75% and a return on equity of 14.89%. The firm had revenue of $24.96 billion during the quarter, compared to the consensus estimate of $24.11 billion. During the same period last year, the firm posted $1.70 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts forecast that RTX Corporation will post 7.68 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 20th will be paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, November 20th. RTX’s dividend payout ratio (DPR) is 47.40%.

Insider Activity at RTX

In related news, EVP Dantaya Williams sold 9,071 shares of RTX stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $201.70, for a total transaction of $1,829,620.70. Following the completion of the transaction, the executive vice president directly owned 16,930 shares in the company, valued at $3,414,781. The trade was a 34.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ramsaran Maharajh sold 13,655 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $223.92, for a total value of $3,057,627.60. Following the completion of the sale, the executive vice president directly owned 13,184 shares in the company, valued at approximately $2,952,161.28. The trade was a 50.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.10% of the company’s stock.

Key Headlines Impacting RTX

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Raytheon won a phase-one DARPA contract to develop optical signal processing technology aimed at helping military operators detect and respond to threats faster. It adds to RTX’s defense technology pipeline, though the initial award is an early-stage contract. Article: RTX’s Raytheon wins DARPA contract
• Positive Sentiment: A commentary pointed to longer-term demand for RTX’s Patriot systems, radars, and interceptors, alongside manufacturing investments to expand capacity. It cited a $340 billion backlog and raised full-year free-cash-flow guidance of $9 billion to $9.2 billion; these support the outlook but depend on execution and are not new orders announced today. Article: America’s Military Rebuild Starts With a Manufacturing Problem
• Negative Sentiment: The election outcome has put a major defense-spending proposal in doubt, raising concern that budget delays or reduced spending could constrain future contract growth for defense contractors, including RTX. Article: Defense Stocks Sank as Democrats Took Congress

Analysts Set New Price Targets

Several brokerages have recently commented on RTX. Royal Bank Of Canada decreased their price target on RTX from $250.00 to $235.00 and set an “outperform” rating on the stock in a research note on Thursday, October 15th. Argus set a $245.00 price target on RTX and gave the stock a “buy” rating in a report on Thursday, July 30th. Wells Fargo & Company raised their price objective on RTX from $200.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, July 24th. Susquehanna lifted their price objective on RTX from $235.00 to $245.00 and gave the stock a “positive” rating in a report on Friday, July 24th. Finally, Citigroup reiterated a “buy” rating on shares of RTX in a research report on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.24.

RTX Profile

RTX Corporation (NYSE: RTX) is an aerospace and defense company that develops and manufactures products and systems for commercial aviation, business aviation, military aircraft and government customers. Its portfolio includes aircraft engines, avionics, flight-control systems, cabin interiors, communications equipment, air and missile defense systems, precision weapons, radars and advanced sensors.

The company operates through three principal businesses: Collins Aerospace, which supplies aerospace systems and components; Pratt & Whitney, which designs and produces aircraft engines and related services; and Raytheon, which provides defense and intelligence technologies.