King Luther Capital Management Corp Raises Position in RTX Corporation $RTX

King Luther Capital Management Corp increased its position in RTX Corporation (NYSE:RTX) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 116,438 shares of the company’s stock after purchasing an additional 402 shares during the quarter. King Luther Capital Management Corp’s holdings in RTX were worth $17,002,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RTX. PFS Partners LLC lifted its position in RTX by 101.1% during the 2nd quarter. PFS Partners LLC now owns 177 shares of the company’s stock valued at $26,000 after acquiring an additional 89 shares during the period. LFA Lugano Financial Advisors SA purchased a new position in shares of RTX during the second quarter valued at approximately $29,000. Access Investment Management LLC purchased a new stake in shares of RTX in the 2nd quarter worth approximately $31,000. Summit Securities Group LLC bought a new position in RTX during the 1st quarter valued at approximately $40,000. Finally, McClarren Financial Advisors Inc. purchased a new position in RTX during the first quarter valued at $44,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Trading Up 1.1%

Shares of NYSE:RTX opened at $177.01 on Monday. The stock has a 50 day moving average of $164.99 and a 200 day moving average of $151.59. The company has a market cap of $237.33 billion, a PE ratio of 36.35, a price-to-earnings-growth ratio of 2.79 and a beta of 0.64. RTX Corporation has a 12-month low of $112.27 and a 12-month high of $181.31. The company has a current ratio of 1.07, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 21st. The company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates 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 firm’s revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.45 EPS. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. As a group, equities research analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Friday, November 21st will be issued 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 yield of 1.5%. RTX’s dividend payout ratio (DPR) is currently 55.85%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RTX shares. The Goldman Sachs Group increased their price objective on shares of RTX from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Robert W. Baird set a $203.00 target price on RTX in a report on Wednesday, October 22nd. Royal Bank Of Canada restated an “outperform” rating and issued a $170.00 price target (up previously from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Barclays increased their price objective on RTX from $130.00 to $153.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 29th. Finally, Sanford C. Bernstein boosted their target price on RTX from $157.00 to $181.00 and gave the stock a “market perform” rating in a research report on Monday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $178.47.

Insider Activity

In other news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $10,729,013.40. This represents a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 stock was sold at an average price of $159.79, for a total value of $4,149,426.72. The SEC filing for this sale provides additional information. Insiders have sold 38,471 shares of company stock worth $6,210,875 over the last ninety days. Corporate insiders own 0.15% of the company’s stock.

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.