Provenance Wealth Advisors LLC lifted its holdings in RTX Corporation (NYSE:RTX – Free Report) by 818.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,380 shares of the company’s stock after buying an additional 20,834 shares during the period. Provenance Wealth Advisors LLC’s holdings in RTX were worth $4,340,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of RTX during the second quarter valued at approximately $20,970,571,000. State Street Corp lifted its holdings in RTX by 3.1% during the second quarter. State Street Corp now owns 95,417,318 shares of the company’s stock worth $18,103,528,000 after acquiring an additional 2,828,056 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 worth $1,649,501,000 after acquiring an additional 411,356 shares during the period. Amundi boosted its position in RTX by 4.0% in the second quarter. Amundi now owns 7,768,207 shares of the company’s stock worth $1,473,862,000 after purchasing an additional 295,964 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in RTX in the second quarter worth $1,456,256,000. 86.50% of the stock is owned by institutional investors.
Insider Activity
In other RTX news, EVP Ramsaran Maharajh sold 13,655 shares of the stock in a transaction dated 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 transaction, the executive vice president 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dantaya M. Williams sold 9,071 shares of RTX stock in a transaction dated 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 owned 16,930 shares of the company’s stock, valued at $3,414,781. The trade was a 34.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.10% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
RTX has been the subject of a number of recent analyst reports. UBS Group upped their price objective on RTX from $209.00 to $212.00 and gave the company a “neutral” rating in a research note on Wednesday, October 21st. Citigroup reiterated a “buy” rating on shares of RTX in a research note on Wednesday, October 7th. Rothschild & Co Redburn boosted their price target on shares of RTX from $180.00 to $215.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Susquehanna boosted their price target on shares of RTX from $235.00 to $245.00 and gave the stock a “positive” rating in a report on Friday, July 24th. Finally, Sanford C. Bernstein reduced their price target on shares of RTX from $223.00 to $214.00 and set a “market perform” rating for the company in a research report on Thursday, October 15th. One investment 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 assigned a Sell rating to the stock. Based on data from MarketBeat, RTX has a consensus rating of “Moderate Buy” and a consensus price target of $231.24.
Read Our Latest Analysis on RTX
RTX Stock Performance
NYSE:RTX opened at $203.70 on Wednesday. The company 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 business has a fifty day simple moving average of $194.55 and a two-hundred day simple moving average of $195.62. 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 Corporation has a 1 year low of $166.74 and a 1 year high of $226.88.
RTX (NYSE:RTX – Get Free Report) last issued its quarterly earnings results on Tuesday, October 20th. The company reported $2.26 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 business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.70 EPS. On average, analysts expect that RTX Corporation will post 7.67 earnings per share for the current year.
RTX Dividend Announcement
The company also recently disclosed 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 is Friday, November 20th. RTX’s payout ratio is currently 47.40%.
Trending Headlines about RTX
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
RTX 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.
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