Summit Asset Management LLC Takes Position in RTX Corporation $RTX

Summit Asset Management LLC purchased a new stake in shares of RTX Corporation (NYSE:RTX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 18,824 shares of the company’s stock, valued at approximately $3,571,000. RTX makes up approximately 0.5% of Summit Asset Management LLC’s holdings, making the stock its 20th biggest holding.

Several other hedge funds have also recently bought and sold shares of RTX. World Investment Advisors increased its position in RTX by 8.7% in the 4th quarter. World Investment Advisors now owns 62,448 shares of the company’s stock worth $11,453,000 after purchasing an additional 5,020 shares during the last quarter. Milestone Asset Management Group LLC grew its stake in shares of RTX by 34.7% in the 4th quarter. Milestone Asset Management Group LLC now owns 30,011 shares of the company’s stock valued at $5,504,000 after buying an additional 7,738 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in RTX in the fourth quarter worth approximately $2,308,000. Truist Financial Corp raised its position in RTX by 2.3% during the fourth quarter. Truist Financial Corp now owns 2,315,021 shares of the company’s stock valued at $424,575,000 after acquiring an additional 53,045 shares in the last quarter. Finally, Wealth Science Advisors LLC acquired a new stake in RTX in the fourth quarter valued at approximately $1,439,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about RTX

Here are the key news stories impacting RTX this week:

• Positive Sentiment: The Pentagon announced framework agreements with Boeing and RTX to increase production of components for SM-3 Block IIA and Block IB interceptor missiles. The agreements could support additional defense revenue and improve visibility for RTX’s missile systems business. Pentagon signs deals with Boeing and RTX to boost missile interceptor component production
• Positive Sentiment: Market coverage highlights RTX’s plans to expand missile production and invest in advanced defense technologies as the U.S. and allies seek more precision weapons. This reinforces expectations for long-term growth in RTX’s defense backlog. Is RTX Strengthening Its Position in the Global Missile Market?
• Positive Sentiment: Unusually strong call-option activity, with 66,251 calls purchased versus typical volume of 16,557, indicates increased speculative bullish interest in RTX, although options activity is not a fundamental business indicator.
• Neutral Sentiment: Analyst coverage remains generally favorable, and some forecasts point to continued earnings growth. However, consensus recommendations can be overly optimistic and should be weighed against valuation and execution risks. Wall Street Analysts Think RTX Is a Good Investment: Is It?
• Negative Sentiment: RTX’s shares have risen substantially over the past five years, and valuation analysis suggests the stock is close to fair value rather than clearly undervalued. With a reported P/E ratio near 39, further gains may depend on strong earnings and successful delivery of new defense contracts. RTX Stock May Be 3% Undervalued Despite Fresh Missile Defense Contract

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RTX. Weiss Ratings lowered shares of RTX from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Robert W. Baird set a $240.00 target price on shares of RTX in a research report on Friday, July 24th. Erste Group Bank cut RTX from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. UBS Group upped their price target on RTX from $198.00 to $215.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Finally, Susquehanna increased their price objective on RTX from $235.00 to $245.00 and gave the company a “positive” rating in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $228.59.

RTX Stock Performance

NYSE:RTX opened at $222.88 on Friday. RTX Corporation has a 1 year low of $150.61 and a 1 year high of $226.88. The firm’s fifty day simple moving average is $200.02 and its 200 day simple moving average is $194.86. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $300.38 billion, a PE ratio of 39.24, a PEG ratio of 2.65 and a beta of 0.29.

RTX (NYSE:RTX) last announced its earnings results on Thursday, July 23rd. The company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.66 by $0.23. The firm had revenue of $24.71 billion for the quarter, compared to the consensus estimate of $22.89 billion. RTX had a net margin of 8.28% and a return on equity of 13.99%. The business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.56 EPS. RTX has set its FY 2026 guidance at 7.100-7.250 EPS. On average, sell-side analysts anticipate that RTX Corporation will post 7.22 EPS for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Friday, August 14th will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, August 14th. RTX’s dividend payout ratio (DPR) is currently 51.41%.

Insider Transactions at RTX

In related news, insider Troy D. Brunk sold 8,557 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $210.29, for a total transaction of $1,799,451.53. Following the completion of the sale, the insider owned 8,809 shares in the company, valued at $1,852,444.61. This represents a 49.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Kevin G. Dasilva sold 4,760 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $213.62, for a total value of $1,016,831.20. Following the completion of the sale, the vice president directly owned 22,349 shares in the company, valued at $4,774,193.38. This trade represents a 17.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 15,567 shares of company stock worth $3,304,375 over the last quarter. 0.10% of the stock is currently owned by corporate insiders.

About RTX

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.