RTX Corporation $RTX Stake Boosted by Everest Financial Group LLC

Everest Financial Group LLC lifted its stake in shares of RTX Corporation (NYSE:RTX) by 238.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,539 shares of the company’s stock after buying an additional 10,243 shares during the quarter. Everest Financial Group LLC’s holdings in RTX were worth $2,699,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RTX. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. raised its holdings in shares of RTX by 405.9% in the 3rd quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 1,872 shares of the company’s stock valued at $348,000 after purchasing an additional 1,502 shares in the last quarter. Fifth Third Bancorp acquired a new position in shares of RTX during the third quarter worth $208,093,000. King Luther Capital Management Corp grew its stake in shares of RTX by 12.1% during the third quarter. King Luther Capital Management Corp now owns 668,112 shares of the company’s stock worth $124,035,000 after purchasing an additional 72,294 shares in the last quarter. Banyan Capital Management Inc. purchased a new position in RTX in the third quarter valued at $391,000. Finally, CFM Wealth Partners LLC purchased a new position in RTX in the third quarter valued at $825,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Down 1.4%

Shares of NYSE:RTX opened at $198.39 on Friday. The firm has a 50 day simple moving average of $192.88 and a 200-day simple moving average of $195.59. RTX Corporation has a twelve month low of $166.74 and a twelve 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. The company has a market capitalization of $267.71 billion, a PE ratio of 32.21, a P/E/G ratio of 2.23 and a beta of 0.30.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 20th. The company reported $2.26 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 firm had revenue of $24.96 billion for the quarter, compared to the consensus estimate of $24.11 billion. During the same period last year, the firm posted $1.70 EPS. The company’s revenue was up 11.1% on a year-over-year basis. On average, equities analysts predict that RTX Corporation will post 7.73 EPS for the current fiscal year.

RTX Announces Dividend

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

Analyst Ratings Changes

A number of analysts have weighed in on the company. Jefferies Financial Group set a $250.00 price target on RTX and gave the company a “buy” rating in a research note on Sunday, July 26th. Weiss Ratings downgraded RTX from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday. Sanford C. Bernstein lowered their price objective on RTX from $223.00 to $214.00 and set a “market perform” rating for the company in a research report on Thursday, October 15th. Royal Bank Of Canada dropped their price objective on RTX from $250.00 to $235.00 and set an “outperform” rating on the stock in a report on Thursday, October 15th. Finally, Wells Fargo & Company increased their price objective on RTX from $200.00 to $230.00 and gave the company an “equal weight” rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and a consensus target price of $231.24.

Key Stories Impacting RTX

Here are a few of the latest stories about RTX:

• Positive Sentiment: RTX drew fresh attention for a DeepStrike test and a DARPA win, highlighting its defense-technology work. The articles supplied do not provide details on the award’s size or expected financial contribution. RTX DeepStrike Test And DARPA Win Put Fresh Focus On Defense Tech
• Positive Sentiment: Zacks Research upgraded RTX from “hold” to “strong buy,” while other Zacks coverage cited improving earnings estimates, defense-technology progress and aerospace services as supports for its outlook. Zacks Research rating update RTX Outperforms Industry in the Past Year: Should You Buy?
• Negative Sentiment: One Zacks assessment cautioned that RTX’s premium valuation could limit upside, despite its stronger performance and favorable earnings trends. RTX Outperforms Industry in the Past Year: Should You Buy?

Insider Activity

In other news, EVP Dantaya Williams sold 9,071 shares of the business’s stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $201.70, for a total value of $1,829,620.70. Following the completion of the sale, the executive vice president directly owned 16,930 shares of the company’s stock, valued at approximately $3,414,781. The trade was a 34.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ramsaran Maharajh sold 13,655 shares of the company’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 directly owned 13,184 shares of the company’s stock, valued at approximately $2,952,161.28. This trade represents a 50.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.10% of the stock is currently owned by insiders.

About RTX

RTX Corporation is an aerospace and defense company whose businesses include Collins Aerospace, Pratt & Whitney and Raytheon. The company serves commercial aviation, military and government customers around the world. Collins Aerospace develops aircraft systems and components, including avionics, communications, flight controls and cabin equipment. Pratt & Whitney designs and manufactures aircraft engines and provides related maintenance services. Raytheon develops defense systems and technologies, including air and missile defense, sensors and precision weapons.