RTX Corporation $RTX Holdings Raised by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC lifted its stake in RTX Corporation (NYSE:RTX) by 5.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 220,219 shares of the company’s stock after buying an additional 10,971 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in RTX were worth $40,884,000 at the end of the most recent reporting period.

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 2nd quarter worth $20,970,571,000. State Street Corp boosted its holdings in shares of RTX by 3.1% during the 2nd quarter. State Street Corp now owns 95,417,318 shares of the company’s stock valued at $18,103,528,000 after purchasing an additional 2,828,056 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of RTX by 5.0% during the 2nd 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 purchasing an additional 411,356 shares during the last quarter. Amundi grew its holdings in RTX by 4.0% during the 2nd 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 position in shares of RTX in the second quarter valued at $1,456,256,000. Institutional investors own 86.50% of the company’s stock.

RTX News Summary

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 Price Performance

RTX opened at $198.28 on Thursday. The business has a fifty day moving average of $194.31 and a 200 day moving average of $195.61. RTX Corporation has a 52-week low of $166.74 and a 52-week high of $226.88. 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 stock has a market cap of $267.56 billion, a P/E ratio of 32.19, a PEG ratio of 2.27 and a beta of 0.30.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $2.26 EPS for the quarter, beating 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 company had revenue of $24.96 billion for the quarter, compared to the consensus estimate of $24.11 billion. During the same quarter in the prior year, the company posted $1.70 EPS. RTX’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts anticipate that RTX Corporation will post 7.68 EPS for the current year.

RTX Dividend Announcement

The business also recently announced 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 dividend on an annualized basis 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%.

Insider Transactions at RTX

In other news, EVP Dantaya Williams sold 9,071 shares of the company’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $201.70, for a total value of $1,829,620.70. Following the transaction, the executive vice president directly owned 16,930 shares in the company, valued at approximately $3,414,781. This represents a 34.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ramsaran Maharajh sold 13,655 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $223.92, for a total transaction of $3,057,627.60. Following the completion of the transaction, the executive vice president directly owned 13,184 shares in the company, valued at $2,952,161.28. This represents a 50.88% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

RTX has been the subject of a number of analyst reports. Susquehanna raised their price target on RTX from $235.00 to $245.00 and gave the stock a “positive” rating in a research report on Friday, July 24th. The Goldman Sachs Group increased their target price on shares of RTX from $195.00 to $206.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. BNP Paribas Exane lifted their price target on shares of RTX from $220.00 to $265.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Jefferies Financial Group set a $250.00 price target on shares of RTX and gave the stock a “buy” rating in a research note on Sunday, July 26th. Finally, DA Davidson upped their price target on shares of RTX from $192.00 to $219.00 and gave the company a “neutral” rating in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $231.24.

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.