RTX Corporation $RTX Stock Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al reduced its stake in RTX Corporation (NYSE:RTX) by 41.6% during the third quarter, Holdings Channel.com reports. The firm owned 26,300 shares of the company’s stock after selling 18,700 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in RTX were worth $4,883,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in RTX in the second quarter worth $20,970,571,000. Bank of New York Mellon Corp purchased a new position in shares of RTX during the second quarter valued at approximately $1,456,256,000. Legal & General Group Plc bought a new stake in RTX in the second quarter worth $1,267,256,000. Deutsche Bank AG purchased a new stake in RTX during the 2nd quarter valued at about $725,900,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of RTX during the second quarter valued at approximately $636,932,000. 86.50% of the stock is owned by institutional investors.

RTX Price Performance

RTX stock opened at $200.09 on Monday. The stock has a market cap of $270.01 billion, a PE ratio of 32.48, a P/E/G ratio of 2.23 and a beta of 0.30. The company has a 50-day moving average price of $194.81 and a 200 day moving average price of $195.55. RTX Corporation has a 12 month low of $166.74 and a 12 month high of $226.88. 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 issued its quarterly earnings results on Tuesday, October 20th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.48. RTX had a return on equity of 14.89% and a net margin of 8.75%. The firm had revenue of $24.96 billion for the quarter, compared to the consensus estimate of $24.11 billion. During the same period in the prior year, the business posted $1.70 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities research analysts anticipate that RTX Corporation will post 7.67 earnings per share for the current year.

RTX Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, November 20th. RTX’s payout ratio is currently 47.40%.

Key Stories Impacting RTX

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.

Wall Street Analyst Weigh In

RTX has been the topic of several research analyst reports. DA Davidson upped their target price on shares of RTX from $192.00 to $219.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Robert W. Baird set a $240.00 price objective on shares of RTX in a research report on Friday, July 24th. Deutsche Bank Aktiengesellschaft lowered shares of RTX from a “buy” rating to a “hold” rating and set a $208.00 target price for the company. in a report on Tuesday, October 13th. Sanford C. Bernstein decreased their price target on RTX from $223.00 to $214.00 and set a “market perform” rating on the stock in a report on Thursday, October 15th. Finally, TD Cowen lowered their target price on shares of RTX from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.24.

Insider Buying and Selling at RTX

In related news, EVP Ramsaran Maharajh sold 13,655 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 13,184 shares in the company, valued at approximately $2,952,161.28. The trade was a 50.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.10% of the company’s stock.

RTX Company 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.