RTX Corporation $RTX Position Increased by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC boosted its position in RTX Corporation (NYSE:RTX) by 5.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 220,219 shares of the company’s stock after purchasing an additional 10,971 shares during the period. Kestra Private Wealth Services LLC’s holdings in RTX were worth $40,884,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in RTX. BlackRock Inc. bought a new position in shares of RTX in the 2nd quarter worth approximately $20,970,571,000. State Street Corp grew its position in RTX by 3.1% during the second quarter. State Street Corp now owns 95,417,318 shares of the company’s stock valued at $18,103,528,000 after buying an additional 2,828,056 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in RTX by 5.0% during the second 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 buying an additional 411,356 shares during the period. Amundi increased its holdings in RTX by 4.0% during the second 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 during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in RTX during the second quarter valued at approximately $1,456,256,000. 86.50% of the stock is currently owned by institutional investors.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on RTX. DA Davidson increased their price target on shares of RTX from $192.00 to $219.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Wells Fargo & Company boosted their price objective on shares of RTX from $200.00 to $230.00 and gave the company an “equal weight” rating in a research report on Friday, July 24th. Citigroup restated a “buy” rating on shares of RTX in a research note on Wednesday, October 7th. BNP Paribas Exane raised their target price on RTX from $220.00 to $265.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Finally, TD Cowen decreased their price objective on RTX from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and a consensus target price of $231.24.

Insider Buying and Selling at RTX

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

RTX Price Performance

Shares of NYSE:RTX opened at $198.28 on Thursday. The company has a market capitalization of $267.56 billion, a P/E ratio of 32.19, a P/E/G ratio of 2.27 and a beta of 0.30. RTX Corporation has a 1-year low of $166.74 and a 1-year high of $226.88. The firm’s 50 day simple moving average is $194.31 and its two-hundred day simple moving average is $195.61. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.81.

RTX (NYSE:RTX) last announced its quarterly earnings data 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 firm had revenue of $24.96 billion during the quarter, compared to analysts’ expectations of $24.11 billion. RTX had a net margin of 8.75% and a return on equity of 14.89%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.70 earnings per share. Research analysts expect that RTX Corporation will post 7.68 EPS for the current fiscal year.

RTX Dividend Announcement

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