Provenance Wealth Advisors LLC lifted its stake in shares of RTX Corporation (NYSE:RTX – Free Report) by 818.3% during the third quarter, HoldingsChannel.com reports. The firm owned 23,380 shares of the company’s stock after purchasing an additional 20,834 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in RTX were worth $4,340,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Evergreen Advisors LLC bought a new position in RTX in the 1st quarter worth about $31,000. Signature Resources Capital Management LLC increased its position in shares of RTX by 111.5% during the first quarter. Signature Resources Capital Management LLC now owns 184 shares of the company’s stock valued at $36,000 after buying an additional 97 shares during the period. BOK Financial Private Wealth Inc. bought a new stake in shares of RTX during the second quarter valued at about $36,000. Next Level Wealth Planning LLC bought a new stake in shares of RTX during the third quarter valued at about $41,000. Finally, Groupe la Francaise lifted its holdings in shares of RTX by 50.9% in the second quarter. Groupe la Francaise now owns 261 shares of the company’s stock worth $45,000 after buying an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.
Insider Buying and Selling
In other RTX news, EVP Ramsaran Maharajh sold 13,655 shares of RTX stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $223.92, for a total transaction of $3,057,627.60. Following the completion of the sale, the executive vice president directly owned 13,184 shares in the company, valued at $2,952,161.28. The trade was a 50.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dantaya Williams sold 9,071 shares of the business’s 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 completion of the transaction, the executive vice president directly owned 16,930 shares of the company’s stock, valued at approximately $3,414,781. This represents a 34.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.10% of the company’s stock.
More RTX News
Here are the key news stories impacting RTX this week:
- Positive Sentiment: Raytheon, an RTX business, won a phase-one DARPA contract to develop all-optical signal processing for the PICASSO program. The technology is intended to help military operators detect and respond to threats faster, adding to RTX’s defense-technology pipeline, though the initial award is an early-stage development contract. Article: RTX’s Raytheon to develop new optical signal processing capability
- Positive Sentiment: A commentary highlighted potential longer-term demand for RTX’s Patriot, radar, and counter-drone systems as militaries replenish weapons and expand air defenses. This is an industry-demand thesis rather than a newly announced order for RTX. Article: Why I’m Watching This Missile Defense Giant as America Rearms for Drone Warfare
- Neutral Sentiment: Wall Street analysts were described as cautiously optimistic, reflecting RTX’s past outperformance but not signaling a clear near-term change in expectations. Article: Are Wall Street Analysts Bullish on RTX Corporation Stock?
- Negative Sentiment: EVP Dantaya Williams sold 9,071 shares for about $1.83 million, reducing her holdings by roughly 35%. Insider sales can weigh on sentiment, although the filing alone does not establish the reason for the transaction. SEC filing for the insider transaction
Analyst Ratings Changes
RTX has been the subject of a number of analyst reports. Barclays raised their price objective on shares of RTX from $223.00 to $235.00 and gave the company an “overweight” rating in a research report on Wednesday, October 21st. TD Cowen decreased their target price on shares of RTX from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, October 9th. Robert W. Baird set a $240.00 target price on shares of RTX in a report on Friday, July 24th. UBS Group increased their target price on shares of RTX from $209.00 to $212.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 21st. Finally, Sanford C. Bernstein cut their price target on shares of RTX from $223.00 to $214.00 and set a “market perform” rating for the company in a report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $231.24.
Check Out Our Latest Stock Report on RTX
RTX Price Performance
Shares of NYSE RTX opened at $203.70 on Wednesday. The stock’s 50-day simple moving average is $194.55 and its two-hundred day simple moving average is $195.62. RTX Corporation has a twelve month low of $166.74 and a twelve month high of $226.88. The firm has a market capitalization of $274.88 billion, a P/E ratio of 33.07, a P/E/G ratio of 2.26 and a beta of 0.30. The company has a quick ratio of 0.81, a current ratio of 1.05 and a debt-to-equity ratio of 0.44.
RTX (NYSE:RTX – Get Free Report) last issued its quarterly 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 return on equity of 14.89% and a net margin of 8.75%. The firm had revenue of $24.96 billion during the quarter, compared to the consensus estimate of $24.11 billion. During the same quarter last year, the company posted $1.70 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities analysts anticipate that RTX Corporation will post 7.67 EPS for the current fiscal year.
RTX Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 20th will be paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, November 20th. RTX’s dividend payout ratio (DPR) is currently 47.40%.
About RTX
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.
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