RTX Corporation $RTX Shares Purchased by Summit Global Investments

Summit Global Investments lifted its position in RTX Corporation (NYSE:RTX) by 83.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,909 shares of the company’s stock after acquiring an additional 3,606 shares during the period. Summit Global Investments’ holdings in RTX were worth $1,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. MGO One Seven LLC lifted its stake in shares of RTX by 6.1% in the third quarter. MGO One Seven LLC now owns 35,615 shares of the company’s stock worth $6,612,000 after buying an additional 2,051 shares in the last quarter. Marin Bay Wealth Advisors LLC purchased a new stake in RTX during the 3rd quarter valued at about $1,060,000. Americana Partners LLC raised its holdings in RTX by 1.2% in the 3rd quarter. Americana Partners LLC now owns 202,099 shares of the company’s stock valued at $37,520,000 after acquiring an additional 2,493 shares during the last quarter. Aprio Wealth Management LLC raised its holdings in RTX by 3.5% in the 3rd quarter. Aprio Wealth Management LLC now owns 14,238 shares of the company’s stock valued at $2,643,000 after acquiring an additional 484 shares during the last quarter. Finally, Kurv Investment Management LLC lifted its stake in RTX by 8.9% in the 3rd quarter. Kurv Investment Management LLC now owns 15,279 shares of the company’s stock worth $2,837,000 after purchasing an additional 1,254 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other RTX news, EVP Ramsaran Maharajh sold 13,655 shares of the firm’s stock in a transaction on 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 sale, the executive vice president owned 13,184 shares of the company’s stock, valued at $2,952,161.28. This trade represents a 50.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.10% of the company’s stock.

Key RTX News

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Defense-sector analysts expect an improving relationship between government agencies and contractors to reduce the risks associated with fixed-price development contracts, which have caused losses across the industry. Lower execution risk could support higher valuations for RTX and other major defense companies. Prediction: Defense Stocks Like Lockheed Martin, RTX, and Boeing Are Set to Soar
• Positive Sentiment: Continued U.S. defense spending, heightened geopolitical tensions involving Iran, and demand for aerospace and missile-defense systems are cited as long-term catalysts for RTX. These themes could improve investor expectations for defense contractors’ revenue visibility and backlog. Meghan Welch’s Bull Case in Defense & Aerospace as U.S.-Iran War Lingers
• Positive Sentiment: The proposed Golden Dome missile-defense network, reportedly starting at $185 billion and potentially reaching $1.2 trillion over 20 years including sustainment, could create substantial opportunities for major aerospace and defense suppliers such as RTX. The article does not identify RTX’s specific role or awarded contracts, so the benefit remains prospective. Golden Dome Is a $185 Billion Program, but Anduril Is Private. Here Are the 3 Public Companies Building It.
• Neutral Sentiment: Several articles concern NVIDIA’s GeForce RTX graphics cards, including RTX 5090 and RTX 5080 availability, gaming performance, and PC hardware deals. “RTX” in those headlines refers to NVIDIA’s product brand, not RTX Corporation, and therefore should not materially affect RTX shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RTX shares. Jefferies Financial Group set a $250.00 price target on RTX and gave the company a “buy” rating in a research report on Sunday, July 26th. Barclays lifted their price objective on RTX from $223.00 to $235.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 21st. Argus set a $245.00 price objective on RTX and gave the stock a “buy” rating in a research note on Thursday, July 30th. Citigroup reissued a “buy” rating on shares of RTX in a research note on Wednesday, October 7th. Finally, UBS Group upped their target price on RTX from $209.00 to $212.00 and gave the company a “neutral” rating in a report on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, RTX presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.24.

RTX Stock Performance

NYSE:RTX opened at $200.09 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.81. The firm has a market capitalization of $270.01 billion, a price-to-earnings ratio of 32.48, a PEG ratio of 2.23 and a beta of 0.30. The company’s 50-day moving average is $194.81 and its two-hundred day moving average is $195.55. RTX Corporation has a 1-year low of $166.74 and a 1-year high of $226.88.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.48. The business had revenue of $24.96 billion during the quarter, compared to the consensus estimate of $24.11 billion. RTX had a net margin of 8.75% and a return on equity of 14.89%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.70 EPS. Analysts forecast that RTX Corporation will post 7.67 EPS for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 20th will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, November 20th. RTX’s dividend payout ratio is presently 47.40%.

RTX Company 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.