Kovack Advisors Inc. Sells 1,301 Shares of RTX Corporation $RTX

Kovack Advisors Inc. decreased its holdings in RTX Corporation (NYSE:RTX) by 3.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 37,721 shares of the company’s stock after selling 1,301 shares during the period. Kovack Advisors Inc.’s holdings in RTX were worth $5,508,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. PFS Partners LLC boosted its position in RTX by 101.1% during the second quarter. PFS Partners LLC now owns 177 shares of the company’s stock valued at $26,000 after acquiring an additional 89 shares during the last quarter. Summit Securities Group LLC bought a new stake in RTX during the first quarter valued at $40,000. McClarren Financial Advisors Inc. bought a new stake in RTX during the first quarter valued at $44,000. Briaud Financial Planning Inc boosted its position in RTX by 25.4% during the second quarter. Briaud Financial Planning Inc now owns 321 shares of the company’s stock valued at $46,000 after acquiring an additional 65 shares during the last quarter. Finally, Mid American Wealth Advisory Group Inc. bought a new stake in RTX during the second quarter valued at $47,000. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In related news, insider Shane G. Eddy sold 25,968 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $159.79, for a total value of $4,149,426.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $180.15, for a total transaction of $873,547.35. Following the completion of the sale, the executive vice president owned 59,556 shares in the company, valued at $10,729,013.40. This represents a 7.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 51,318 shares of company stock worth $8,238,388. 0.15% of the stock is currently owned by insiders.

RTX Trading Up 0.4%

RTX opened at $177.15 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.07 and a quick ratio of 0.81. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $181.31. The firm has a market capitalization of $237.52 billion, a PE ratio of 36.38, a P/E/G ratio of 2.79 and a beta of 0.66. The company’s 50-day moving average is $162.87 and its 200 day moving average is $149.12.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 21st. The company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.29. RTX had a net margin of 7.67% and a return on equity of 13.28%. The company had revenue of $22.48 billion for the quarter, compared to analyst estimates of $21.26 billion. During the same quarter in the prior year, the business posted $1.45 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. As a group, research analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Friday, November 21st will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, November 21st. RTX’s dividend payout ratio is currently 55.85%.

Analysts Set New Price Targets

RTX has been the topic of a number of research analyst reports. Citigroup upped their price target on shares of RTX from $148.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Wall Street Zen raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Morgan Stanley set a $215.00 price objective on shares of RTX and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Sanford C. Bernstein upped their price objective on shares of RTX from $157.00 to $181.00 and gave the company a “market perform” rating in a report on Monday, October 6th. Finally, Barclays upped their price objective on shares of RTX from $130.00 to $153.00 and gave the company an “equal weight” rating in a report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.47.

About RTX

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.