3,606 RTX Corporation $RTX Shares Acquired by Summit Global Investments

Summit Global Investments grew its stake in RTX Corporation (NYSE:RTX) by 83.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 7,909 shares of the company’s stock after acquiring an additional 3,606 shares during the period. Summit Global Investments’ holdings in RTX were worth $1,468,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in RTX during the second quarter worth $20,970,571,000. State Street Corp grew its stake in shares of RTX by 3.1% in the second quarter. State Street Corp now owns 95,417,318 shares of the company’s stock valued at $18,103,528,000 after buying an additional 2,828,056 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of RTX by 5.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,693,939 shares of the company’s stock valued at $1,649,501,000 after buying an additional 411,356 shares in the last quarter. Amundi grew its stake in shares of RTX by 4.0% in the second quarter. Amundi now owns 7,768,207 shares of the company’s stock valued at $1,473,862,000 after buying an additional 295,964 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of RTX in the 2nd quarter valued at $1,456,256,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

More RTX News

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Defense-sector analysts expect an improving relationship between government agencies and contractors to reduce the risks associated with fixed-price development contracts, which have caused losses across the industry. Lower execution risk could support higher valuations for RTX and other major defense companies. Prediction: Defense Stocks Like Lockheed Martin, RTX, and Boeing Are Set to Soar
• Positive Sentiment: Continued U.S. defense spending, heightened geopolitical tensions involving Iran, and demand for aerospace and missile-defense systems are cited as long-term catalysts for RTX. These themes could improve investor expectations for defense contractors’ revenue visibility and backlog. Meghan Welch’s Bull Case in Defense & Aerospace as U.S.-Iran War Lingers
• Positive Sentiment: The proposed Golden Dome missile-defense network, reportedly starting at $185 billion and potentially reaching $1.2 trillion over 20 years including sustainment, could create substantial opportunities for major aerospace and defense suppliers such as RTX. The article does not identify RTX’s specific role or awarded contracts, so the benefit remains prospective. Golden Dome Is a $185 Billion Program, but Anduril Is Private. Here Are the 3 Public Companies Building It.
• Neutral Sentiment: Several articles concern NVIDIA’s GeForce RTX graphics cards, including RTX 5090 and RTX 5080 availability, gaming performance, and PC hardware deals. “RTX” in those headlines refers to NVIDIA’s product brand, not RTX Corporation, and therefore should not materially affect RTX shares.

RTX Stock Performance

NYSE:RTX opened at $200.09 on Monday. RTX Corporation has a 52 week low of $166.74 and a 52 week high of $226.88. The company has a fifty day simple moving average of $194.81 and a two-hundred day simple moving average of $195.55. The company has a quick ratio of 0.81, a current ratio of 1.05 and a debt-to-equity ratio of 0.44. The company has a market cap of $270.01 billion, a price-to-earnings ratio of 32.48, a price-to-earnings-growth ratio of 2.23 and a beta of 0.30.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.48. The business had revenue of $24.96 billion for the quarter, compared to analysts’ expectations of $24.11 billion. RTX had a return on equity of 14.89% and a net margin of 8.75%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $1.70 earnings per share. As a group, equities analysts anticipate that RTX Corporation will post 7.67 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 20th will be issued a dividend of $0.73 per share. The ex-dividend date is Friday, November 20th. This represents a $2.92 annualized dividend and a yield of 1.5%. RTX’s dividend payout ratio is 47.40%.

Insider Transactions at RTX

In other RTX news, EVP Ramsaran Maharajh sold 13,655 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $223.92, for a total value of $3,057,627.60. Following the sale, the executive vice president owned 13,184 shares of the company’s stock, valued at $2,952,161.28. This trade represents a 50.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RTX. Royal Bank Of Canada decreased their target price on RTX from $250.00 to $235.00 and set an “outperform” rating on the stock in a research note on Thursday, October 15th. Robert W. Baird set a $240.00 target price on RTX in a research report on Friday, July 24th. Barclays boosted their price target on shares of RTX from $223.00 to $235.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 21st. Deutsche Bank Aktiengesellschaft cut shares of RTX from a “buy” rating to a “hold” rating and set a $208.00 price target on the stock. in a research report on Tuesday, October 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of RTX from $215.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, RTX has an average rating of “Moderate Buy” and a consensus price target of $231.24.

About RTX

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.