Convergence Financial LLC Has $613,000 Holdings in RTX Corporation $RTX

Convergence Financial LLC reduced its holdings in shares of RTX Corporation (NYSE:RTX) by 6.5% in the second quarter, Holdings Channel reports. The institutional investor owned 4,198 shares of the company’s stock after selling 290 shares during the period. Convergence Financial LLC’s holdings in RTX were worth $613,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PFS Partners LLC increased its stake in RTX by 101.1% in the 2nd quarter. PFS Partners LLC now owns 177 shares of the company’s stock valued at $26,000 after buying an additional 89 shares during the last quarter. Access Investment Management LLC bought a new stake in shares of RTX in the 2nd quarter worth approximately $31,000. Summit Securities Group LLC purchased a new position in shares of RTX during the 1st quarter valued at $40,000. McClarren Financial Advisors Inc. bought a new position in shares of RTX during the 1st quarter worth $44,000. Finally, Briaud Financial Planning Inc increased its holdings in RTX by 25.4% in the 2nd quarter. Briaud Financial Planning Inc now owns 321 shares of the company’s stock worth $46,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX opened at $175.67 on Wednesday. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $181.31. The firm has a 50 day moving average of $164.05 and a 200 day moving average of $150.42. The company has a quick ratio of 0.81, a current ratio of 1.07 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $235.53 billion, a P/E ratio of 36.07, a price-to-earnings-growth ratio of 2.79 and a beta of 0.66.

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

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders 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 dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, November 21st. RTX’s payout ratio is presently 55.85%.

Insider Buying and Selling

In other RTX news, insider Troy D. Brunk sold 7,654 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider owned 16,442 shares in the company, valued at approximately $2,551,798.40. This trade represents a 31.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $180.15, for a total transaction of $873,547.35. Following the completion of 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 38,471 shares of company stock valued at $6,210,875. 0.15% of the stock is owned by corporate insiders.

Analyst Ratings Changes

RTX has been the subject of several recent research reports. Susquehanna lifted their price target on RTX from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, October 22nd. Bank of America raised their price objective on RTX from $175.00 to $215.00 and gave the company a “buy” rating in a report on Monday, October 27th. The Goldman Sachs Group lifted their price target on shares of RTX from $151.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $195.00 price objective on shares of RTX in a research note on Wednesday, October 8th. Finally, Citigroup boosted their price objective on shares of RTX from $148.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $178.47.

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.