Ritholtz Wealth Management Grows Holdings in RTX Corporation $RTX

Ritholtz Wealth Management grew its position in shares of RTX Corporation (NYSE:RTX) by 6.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,646 shares of the company’s stock after purchasing an additional 2,888 shares during the period. Ritholtz Wealth Management’s holdings in RTX were worth $7,638,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. State Street Corp boosted its holdings in shares of RTX by 0.5% in the 2nd quarter. State Street Corp now owns 112,706,833 shares of the company’s stock valued at $16,457,452,000 after buying an additional 552,009 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in RTX by 1.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 1,317,166 shares of the company’s stock worth $192,333,000 after acquiring an additional 16,034 shares during the last quarter. MGO One Seven LLC lifted its holdings in RTX by 10.2% in the second quarter. MGO One Seven LLC now owns 27,620 shares of the company’s stock worth $4,033,000 after acquiring an additional 2,554 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of RTX by 28,295.2% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 11,926 shares of the company’s stock valued at $1,741,000 after purchasing an additional 11,884 shares during the last quarter. Finally, Armstrong Fleming & Moore Inc bought a new position in shares of RTX during the second quarter valued at approximately $431,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RTX shares. Morgan Stanley set a $215.00 price objective on RTX and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. UBS Group downgraded shares of RTX from a “buy” rating to a “neutral” rating and reduced their price target for the company from $202.00 to $199.00 in a report on Monday, January 5th. Susquehanna reaffirmed a “positive” rating and issued a $230.00 price objective on shares of RTX in a report on Thursday. Jefferies Financial Group reissued a “hold” rating and set a $190.00 target price on shares of RTX in a research note on Tuesday, November 25th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $189.00 target price on shares of RTX in a research report on Tuesday, January 6th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and an average target price of $186.88.

Insider Buying and Selling

In other RTX news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $180.15, for a total value of $873,547.35. Following the completion of the sale, the executive vice president directly owned 59,556 shares of the company’s stock, valued at approximately $10,729,013.40. This represents a 7.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.15% of the company’s stock.

RTX Trading Up 0.5%

Shares of NYSE:RTX opened at $199.75 on Friday. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $200.31. The company has a current ratio of 1.07, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. The firm has a market cap of $267.82 billion, a P/E ratio of 41.02, a P/E/G ratio of 2.89 and a beta of 0.44. The company has a 50 day moving average of $179.89 and a 200-day moving average of $166.39.

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

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Friday, November 21st were issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, November 21st. RTX’s payout ratio is presently 55.85%.

About RTX

RTX (NYSE: RTX) is a U.S.-based aerospace and defense company that designs, manufactures and services advanced systems for commercial, military and governmental customers worldwide. The company was created through the 2020 combination of Raytheon Company and United Technologies Corporation and later adopted the RTX name, positioning itself as a diversified provider across the aerospace and defense value chain.

RTX’s operations span a broad set of capabilities. Its commercial aerospace businesses include Pratt & Whitney aircraft engines and Collins Aerospace systems, which supply propulsion, avionics, aerostructures, interiors and integrated aircraft systems.