Avidian Wealth Enterprises LLC Grows Position in RTX Corporation $RTX

Avidian Wealth Enterprises LLC grew its stake in RTX Corporation (NYSE:RTX) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,650 shares of the company’s stock after acquiring an additional 320 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in RTX were worth $1,701,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. MorganRosel Wealth Management LLC purchased a new stake in shares of RTX during the first quarter worth about $26,000. PFS Partners LLC boosted its position in RTX by 101.1% during the second quarter. PFS Partners LLC now owns 177 shares of the company’s stock worth $26,000 after acquiring an additional 89 shares during the last quarter. Summit Securities Group LLC purchased a new stake in RTX in the 1st quarter worth approximately $40,000. McClarren Financial Advisors Inc. acquired a new position in RTX in the 1st quarter valued at $44,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of RTX during the 1st quarter worth $50,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling

In other news, VP Kevin G. Dasilva sold 8,704 shares of the company’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $156.20, for a total value of $1,359,564.80. Following the completion of the sale, the vice president owned 30,004 shares of the company’s stock, valued at $4,686,624.80. This represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shane G. Eddy sold 25,968 shares of the stock in a transaction dated 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 55,173 shares of company stock worth $8,724,406. Company insiders own 0.15% of the company’s stock.

RTX Price Performance

RTX opened at $173.00 on Wednesday. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $178.76. The company has a 50 day moving average of $159.66 and a two-hundred day moving average of $146.50. The company has a market cap of $231.57 billion, a P/E ratio of 38.02, a P/E/G ratio of 2.98 and a beta of 0.66. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 21st. The company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.29. RTX had a net margin of 7.35% and a return on equity of 12.89%. The business had revenue of $22.48 billion for the quarter, compared to the consensus estimate of $21.26 billion. During the same quarter last year, the firm posted $1.45 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. On average, analysts expect that RTX Corporation will post 6.11 earnings per share for the current year.

Analyst Ratings Changes

RTX has been the subject of several analyst reports. Sanford C. Bernstein upped their target price on RTX from $157.00 to $181.00 and gave the company a “market perform” rating in a research note on Monday, October 6th. Barclays upped their price objective on shares of RTX from $130.00 to $153.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $195.00 target price on shares of RTX in a research report on Wednesday, October 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $170.00 price target (up previously from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Finally, Citigroup lifted their price target on shares of RTX from $148.00 to $182.00 and gave the company a “buy” rating in a report on Monday, July 14th. Two research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $164.13.

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.