Summit Wealth & Retirement Planning Inc. Acquires Shares of 3,702 RTX Corporation $RTX

Summit Wealth & Retirement Planning Inc. purchased a new stake in RTX Corporation (NYSE:RTX) in the second quarter, HoldingsChannel reports. The fund purchased 3,702 shares of the company’s stock, valued at approximately $541,000.

A number of other large investors have also made changes to their positions in RTX. Brookwood Investment Group LLC acquired a new stake in shares of RTX during the 1st quarter valued at about $1,288,000. Arizona State Retirement System grew its stake in shares of RTX by 1.4% in the 1st quarter. Arizona State Retirement System now owns 390,617 shares of the company’s stock valued at $51,741,000 after purchasing an additional 5,356 shares during the period. Redwood Financial Network Corp bought a new position in shares of RTX during the 1st quarter worth approximately $243,000. Zuckerman Investment Group LLC raised its stake in RTX by 54.1% during the first quarter. Zuckerman Investment Group LLC now owns 5,790 shares of the company’s stock worth $767,000 after acquiring an additional 2,033 shares in the last quarter. Finally, Fortem Financial Group LLC acquired a new position in RTX in the first quarter valued at about $241,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Citigroup raised their target price on shares of RTX from $148.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Bank of America raised their target price on shares of RTX from $175.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of RTX in a research report on Friday, October 31st. Wall Street Zen raised RTX from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Finally, Sanford C. Bernstein boosted their price target on RTX from $157.00 to $181.00 and gave the stock a “market perform” rating in a research report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.47.

Insiders Place Their Bets

In other RTX news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the business’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $180.15, for a total value of $873,547.35. Following the completion of the sale, the executive vice president owned 59,556 shares of the company’s stock, valued at $10,729,013.40. The trade was a 7.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Shane G. Eddy sold 25,968 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $159.79, for a total transaction of $4,149,426.72. The SEC filing for this sale provides additional information. Insiders sold 38,471 shares of company stock worth $6,210,875 in the last quarter. 0.15% of the stock is currently owned by corporate insiders.

RTX Stock Performance

NYSE RTX opened at $177.01 on Friday. The stock has a market cap of $237.33 billion, a PE ratio of 36.35, a P/E/G ratio of 2.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.07. The firm has a 50-day moving average of $164.99 and a 200-day moving average of $151.11. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $181.31.

RTX (NYSE:RTX) last issued its quarterly earnings data 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. The firm 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 business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the business posted $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 year.

RTX Dividend Announcement

The firm 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. This represents a $2.72 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, November 21st. RTX’s dividend payout ratio (DPR) is currently 55.85%.

RTX Company Profile

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.