Kovack Advisors Inc. Sells 1,301 Shares of RTX Corporation $RTX

Kovack Advisors Inc. cut its position in RTX Corporation (NYSE:RTX) by 3.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,721 shares of the company’s stock after selling 1,301 shares during the quarter. Kovack Advisors Inc.’s holdings in RTX were worth $5,508,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Cornerstone Advisory LLC raised its position in shares of RTX by 0.9% in the second quarter. Cornerstone Advisory LLC now owns 7,490 shares of the company’s stock valued at $1,094,000 after buying an additional 64 shares in the last quarter. Briaud Financial Planning Inc raised its position in shares of RTX by 25.4% in the second quarter. Briaud Financial Planning Inc now owns 321 shares of the company’s stock valued at $46,000 after buying an additional 65 shares in the last quarter. Gries Financial LLC raised its position in shares of RTX by 0.7% in the second quarter. Gries Financial LLC now owns 9,780 shares of the company’s stock valued at $1,428,000 after buying an additional 69 shares in the last quarter. M3 Advisory Group LLC raised its position in shares of RTX by 2.7% in the second quarter. M3 Advisory Group LLC now owns 2,631 shares of the company’s stock valued at $384,000 after buying an additional 69 shares in the last quarter. Finally, TrueWealth Advisors LLC raised its position in shares of RTX by 3.6% in the second quarter. TrueWealth Advisors LLC now owns 2,007 shares of the company’s stock valued at $293,000 after buying an additional 70 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Performance

NYSE RTX opened at $177.15 on Friday. The firm’s fifty day moving average price is $162.87 and its two-hundred day moving average price is $149.12. The stock has a market cap of $237.52 billion, a PE ratio of 36.38, a PEG ratio of 2.79 and a beta of 0.66. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $181.31. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.07.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 21st. The company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 7.67% and a return on equity of 13.28%. The company’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.45 earnings per share. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. On average, equities analysts expect that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Friday, November 21st will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, November 21st. RTX’s payout ratio is presently 55.85%.

Insider Activity at RTX

In other RTX news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $180.15, for a total transaction of $873,547.35. Following the sale, the executive vice president owned 59,556 shares of the company’s stock, valued at approximately $10,729,013.40. The trade was a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Troy D. Brunk sold 7,654 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the completion of the sale, the insider directly owned 16,442 shares in the company, valued at approximately $2,551,798.40. This represents a 31.76% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 51,318 shares of company stock worth $8,238,388. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on RTX shares. Susquehanna lifted their price target on shares of RTX from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, October 22nd. Bank of America lifted their price target on shares of RTX from $175.00 to $215.00 and gave the company a “buy” rating in a research report on Monday. The Goldman Sachs Group lifted their price objective on shares of RTX from $151.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Citigroup lifted their price objective on shares of RTX from $148.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Finally, Wall Street Zen raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and a consensus target price of $178.47.

About RTX

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.