Summit Wealth & Retirement Planning Inc. Invests $541,000 in RTX Corporation $RTX

Summit Wealth & Retirement Planning Inc. bought a new position in shares of RTX Corporation (NYSE:RTX) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 3,702 shares of the company’s stock, valued at approximately $541,000.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of RTX by 24.3% during the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock worth $1,969,000 after purchasing an additional 3,332 shares during the period. Revolve Wealth Partners LLC grew its position in shares of RTX by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock valued at $564,000 after buying an additional 159 shares during the last quarter. Stonebrook Private Inc. raised its stake in RTX by 24.3% during the first quarter. Stonebrook Private Inc. now owns 2,537 shares of the company’s stock worth $336,000 after acquiring an additional 496 shares during the period. Alps Advisors Inc. bought a new position in RTX in the first quarter worth about $477,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in RTX in the first quarter valued at approximately $50,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Activity

In related news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the stock in a transaction on Friday, October 24th. The stock was sold at an average price of $180.15, for a total value of $873,547.35. Following the completion of the transaction, the executive vice president owned 59,556 shares in the company, valued at $10,729,013.40. This trade represents a 7.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Shane G. Eddy sold 25,968 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $159.79, for a total transaction of $4,149,426.72. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 38,471 shares of company stock valued at $6,210,875 over the last three months. Insiders own 0.15% of the company’s stock.

RTX Price Performance

NYSE:RTX opened at $177.01 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.07 and a debt-to-equity ratio of 0.58. The business’s 50-day moving average price is $164.99 and its 200 day moving average price is $151.11. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $181.31. The firm has a market cap of $237.33 billion, a P/E ratio of 36.35, a PEG ratio of 2.79 and a beta of 0.64.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.29. The company 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 business’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.45 EPS. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. As a group, sell-side analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

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

Analyst Ratings Changes

RTX has been the topic of several recent research reports. Susquehanna raised their price target on RTX from $175.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, October 22nd. Barclays increased their price objective on shares of RTX from $130.00 to $153.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 29th. The Goldman Sachs Group upped their target price on shares of RTX from $151.00 to $168.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. UBS Group lifted their price target on RTX from $197.00 to $202.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Finally, Sanford C. Bernstein increased their price objective on RTX from $157.00 to $181.00 and gave the stock a “market perform” rating in a report on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $178.47.

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.