RTX Corporation $RTX Shares Sold by Third View Private Wealth LLC

Third View Private Wealth LLC lessened its holdings in RTX Corporation (NYSE:RTX) by 71.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,592 shares of the company’s stock after selling 8,911 shares during the period. Third View Private Wealth LLC’s holdings in RTX were worth $667,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Evergreen Advisors LLC bought a new position in RTX during the first quarter worth $31,000. Signature Resources Capital Management LLC raised its position in shares of RTX by 111.5% in the first quarter. Signature Resources Capital Management LLC now owns 184 shares of the company’s stock valued at $36,000 after purchasing an additional 97 shares during the period. BOK Financial Private Wealth Inc. bought a new position in shares of RTX in the second quarter valued at about $36,000. Next Level Wealth Planning LLC bought a new position in shares of RTX in the third quarter valued at about $41,000. Finally, Groupe la Francaise lifted its stake in shares of RTX by 50.9% during the 2nd quarter. Groupe la Francaise now owns 261 shares of the company’s stock worth $45,000 after buying an additional 88 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

RTX has been the subject of several research analyst reports. DA Davidson lifted their target price on shares of RTX from $192.00 to $219.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. JPMorgan Chase & Co. increased their price target on shares of RTX from $215.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Royal Bank Of Canada cut their price objective on shares of RTX from $250.00 to $235.00 and set an “outperform” rating for the company in a research report on Thursday, October 15th. Sanford C. Bernstein reduced their price objective on RTX from $223.00 to $214.00 and set a “market perform” rating for the company in a report on Thursday, October 15th. Finally, BNP Paribas Exane upped their target price on RTX from $220.00 to $265.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have issued a Hold rating and one has assigned 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 Transactions at RTX

In other RTX news, EVP Ramsaran Maharajh sold 13,655 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were 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 of the company’s stock, valued at $2,952,161.28. The trade was a 50.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Dantaya Williams sold 9,071 shares of the stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $201.70, for a total transaction of $1,829,620.70. Following the transaction, the executive vice president owned 16,930 shares in the company, valued at approximately $3,414,781. The trade was a 34.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.10% of the company’s stock.

RTX Stock Down 2.7%

RTX opened at $198.28 on Thursday. RTX Corporation has a fifty-two week low of $166.74 and a fifty-two week high of $226.88. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.81 and a current ratio of 1.05. The company has a market capitalization of $267.56 billion, a P/E ratio of 32.19, a P/E/G ratio of 2.27 and a beta of 0.30. The stock has a fifty day moving average of $194.31 and a 200-day moving average of $195.61.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, October 20th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.48. RTX had a net margin of 8.75% and a return on equity of 14.89%. The company had revenue of $24.96 billion during the quarter, compared to analysts’ expectations of $24.11 billion. During the same quarter in the previous year, the business posted $1.70 earnings per share. RTX’s quarterly revenue was up 11.1% on a year-over-year basis. On average, equities analysts expect that RTX Corporation will post 7.68 EPS for the current year.

RTX Announces Dividend

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

More RTX News

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Raytheon won a phase-one DARPA contract to develop all-optical signal processing intended to help military operators detect and respond to threats faster. It adds to RTX’s technology pipeline, although the initial award is an early-stage development contract and no contract value was reported. Article: RTX’s Raytheon to develop new optical signal processing capability
• Positive Sentiment: An InvestorPlace commentary pointed to potential demand for Patriot systems, radars and other air-defense equipment as countries expand defenses. RTX’s large backlog and investments to increase production capacity support the opportunity, but delivery and cash-generation execution remain important. Article: America’s Military Rebuild Starts With a Manufacturing Problem
• Negative Sentiment: Political shifts following the midterm elections are creating a headwind for defense shares. Coverage said the prospect of a “blue wave” is boosting the broader market but dragging down defense stocks, offering a likely explanation for RTX’s weakness. Article: RTX and Other Defense Stocks Have a Midterm Headache
• Negative Sentiment: EVP Dantaya Williams sold 9,071 RTX shares, reducing her direct holdings by about 35%. The sale may weigh on sentiment, though the filing does not state her reason for selling. SEC filing for the insider transaction

RTX 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.