RTX Corporation $RTX Stake Increased by Consolidated Investment Group LLC

Consolidated Investment Group LLC lifted its stake in shares of RTX Corporation (NYSE:RTX) by 19.7% in the third quarter, HoldingsChannel.com reports. The fund owned 21,300 shares of the company’s stock after acquiring an additional 3,500 shares during the quarter. Consolidated Investment Group LLC’s holdings in RTX were worth $3,954,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in RTX during the second quarter valued at about $20,970,571,000. Bank of New York Mellon Corp bought a new stake in RTX during the second quarter worth about $1,456,256,000. Legal & General Group Plc bought a new stake in RTX during the second quarter worth about $1,267,256,000. Deutsche Bank AG bought a new stake in RTX during the second quarter worth about $725,900,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of RTX in the 2nd quarter worth about $636,932,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Key RTX News

Here are the key news stories impacting RTX this week:

• Positive Sentiment: RTX is reportedly planning to increase Tomahawk and AMRAAM missile production as much as fourfold by 2030. If carried out, the expansion could help the company capture more defense demand, though the report describes a plan rather than completed production growth. Tomahawk and AMRAAM production report
• Positive Sentiment: Raytheon completed a third successful flight test of its DeepStrike JR3 rocket for the U.S. Army’s Joint Reduced Range Rocket program. The test demonstrated the system’s capabilities and may strengthen Raytheon’s position as the Army evaluates a replacement for its training rocket; it does not itself confirm a contract award. Raytheon JR3 flight test announcement

Insider Activity at RTX

In related news, EVP Dantaya Williams sold 9,071 shares of the firm’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 transaction, the executive vice president directly owned 16,930 shares in the company, valued at $3,414,781. This trade represents a 34.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ramsaran Maharajh sold 13,655 shares of RTX stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $223.92, for a total value of $3,057,627.60. Following the completion of the transaction, the executive vice president directly owned 13,184 shares in the company, valued at $2,952,161.28. This trade represents a 50.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.10% of the stock is owned by company insiders.

RTX Stock Performance

NYSE RTX opened at $196.35 on Tuesday. The company has a 50-day simple moving average of $193.15 and a two-hundred day simple moving average of $195.52. 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 Corporation has a 12-month low of $166.74 and a 12-month high of $226.88. The firm has a market cap of $264.96 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 2.21 and a beta of 0.30.

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, beating analysts’ consensus estimates of $1.78 by $0.48. The firm had revenue of $24.96 billion for the quarter, compared to analysts’ expectations of $24.11 billion. RTX had a return on equity of 14.89% and a net margin of 8.75%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $1.70 earnings per share. On average, equities analysts forecast that RTX Corporation will post 7.68 EPS for the current 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 issued a dividend of $0.73 per share. The ex-dividend date 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%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RTX. Morgan Stanley reiterated an “overweight” rating and set a $240.00 price objective (up from $220.00) on shares of RTX in a research report on Friday, July 24th. Argus set a $245.00 target price on RTX and gave the stock a “buy” rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. boosted their target price on RTX from $215.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Royal Bank Of Canada cut their target price on RTX from $250.00 to $235.00 and set an “outperform” rating for the company in a research note on Thursday, October 15th. Finally, TD Cowen reduced their price target on shares of RTX from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.24.

RTX Company Profile

RTX Corporation is an aerospace and defense company whose businesses include Collins Aerospace, Pratt & Whitney and Raytheon. The company serves commercial aviation, military and government customers around the world.

Collins Aerospace develops aircraft systems and components, including avionics, communications, flight controls and cabin equipment. Pratt & Whitney designs and manufactures aircraft engines and provides related maintenance services. Raytheon develops defense systems and technologies, including air and missile defense, sensors and precision weapons.

RTX was formed in 2020 through the combination of Raytheon Company and United Technologies Corporation.