Drive Wealth Management LLC Has $777,000 Stock Holdings in RTX Corporation $RTX

Drive Wealth Management LLC grew its stake in RTX Corporation (NYSE:RTX) by 2.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,319 shares of the company’s stock after buying an additional 151 shares during the period. Drive Wealth Management LLC’s holdings in RTX were worth $777,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bay Capital Advisors LLC acquired a new stake in shares of RTX in the first quarter valued at about $224,000. Brookwood Investment Group LLC acquired a new stake in shares of RTX in the first quarter valued at about $1,288,000. LBP AM SA increased its stake in shares of RTX by 17.7% in the first quarter. LBP AM SA now owns 279,179 shares of the company’s stock valued at $36,980,000 after buying an additional 41,990 shares during the period. Arizona State Retirement System increased its stake in shares of RTX by 1.4% in the first quarter. Arizona State Retirement System now owns 390,617 shares of the company’s stock valued at $51,741,000 after buying an additional 5,356 shares during the period. Finally, Redwood Financial Network Corp acquired a new stake in shares of RTX in the first quarter valued at about $243,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Transactions at RTX

In other RTX news, insider Troy D. Brunk sold 7,654 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total value of $1,187,900.80. Following the completion of the sale, the insider owned 16,442 shares of the company’s stock, valued at approximately $2,551,798.40. This trade represents a 31.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Shane G. Eddy sold 25,968 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $159.79, for a total value of $4,149,426.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,635 shares of company stock valued at $8,947,010. Company insiders own 0.15% of the company’s stock.

RTX Trading Up 0.6%

Shares of RTX stock opened at $158.04 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $170.85. The stock has a 50 day moving average price of $159.20 and a two-hundred day moving average price of $146.01. The stock has a market capitalization of $211.55 billion, a PE ratio of 34.73, a price-to-earnings-growth ratio of 2.93 and a beta of 0.66.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%.The firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $20.68 billion. During the same quarter last year, the firm posted $1.41 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, equities analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

RTX has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on RTX from $145.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RTX in a research note on Wednesday, October 8th. Susquehanna raised their target price on RTX from $160.00 to $175.00 and gave the stock a “positive” rating in a research note on Wednesday, July 23rd. UBS Group raised their target price on RTX from $166.00 to $177.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Finally, Sanford C. Bernstein raised their target price on RTX from $157.00 to $181.00 and gave the stock a “market perform” rating in a research note on Monday, October 6th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, RTX presently has an average rating of “Moderate Buy” and a consensus price target of $164.13.

RTX Profile

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.