RTX Corporation $RTX Stock Holdings Raised by Sowell Financial Services LLC

Sowell Financial Services LLC raised its holdings in shares of RTX Corporation (NYSE:RTX – Free Report) by 14.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 26,613 shares of the company’s stock after acquiring an additional 3,331 shares during the quarter. Sowell Financial Services LLC’s holdings in RTX were worth $4,941,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of RTX in the second quarter valued at approximately $20,970,571,000. State Street Corp grew its stake in RTX by 3.1% in the 2nd quarter. State Street Corp now owns 95,417,318 shares of the company’s stock valued at $18,103,528,000 after buying an additional 2,828,056 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in RTX by 5.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,693,939 shares of the company’s stock valued at $1,649,501,000 after buying an additional 411,356 shares in the last quarter. Amundi raised its holdings in RTX by 4.0% during the 2nd quarter. Amundi now owns 7,768,207 shares of the company’s stock valued at $1,473,862,000 after acquiring an additional 295,964 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in RTX during the 2nd quarter valued at $1,456,256,000. Institutional investors own 86.50% of the company’s stock.

Insider Transactions at RTX

In related news, EVP Ramsaran Maharajh sold 13,655 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was 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 directly owned 13,184 shares in the company, valued at $2,952,161.28. The trade was a 50.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

RTX Stock Performance

NYSE RTX opened at $199.99 on Friday. The company’s 50 day simple moving average is $195.06 and its two-hundred day simple moving average is $195.52. 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. The stock has a market capitalization of $269.87 billion, a PE ratio of 32.47, a P/E/G ratio of 2.19 and a beta of 0.31.

RTX (NYSE:RTX – Get Free Report) last released 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 during the quarter, compared to analyst estimates of $24.11 billion. RTX had a net margin of 8.75% and a return on equity of 14.89%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.70 EPS. Analysts predict that RTX Corporation will post 7.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RTX has been the topic of several recent research reports. UBS Group increased their target price on RTX from $209.00 to $212.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 21st. Morgan Stanley reiterated an “overweight” rating and set a $240.00 price objective (up from $220.00) on shares of RTX in a research note on Friday, July 24th. Rothschild & Co Redburn increased their price objective on RTX from $180.00 to $215.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Argus set a $245.00 target price on RTX and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings upgraded RTX from a “buy (b)” rating to a “buy (a-)” rating in a research note on Thursday, October 22nd. One equities research 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 issued a Sell rating to the company. Based on data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and a consensus target price of $228.86.

Read Our Latest Report on RTX

Key Headlines Impacting RTX

Here are the key news stories impacting RTX this week:

  • Positive Sentiment: Quarterly dividend declared: RTX’s board approved a cash dividend of $0.73 per share, reinforcing the company’s shareholder-return commitment. RTX Board of Directors Declares Quarterly Cash Dividend
  • Positive Sentiment: Raised outlook and strong operating momentum: Recent coverage highlights RTX’s third-quarter revenue and earnings beat, higher guidance, record backlogs, and signs of recovery in commercial aerospace demand. Those factors have strengthened the valuation case, with one analysis estimating the stock could be approximately 14% undervalued. RTX Could Be 14% Undervalued As Raised Guidance Lifts The Valuation Case
  • Positive Sentiment: Long-term Collins Aerospace contract: Air Europa extended its exclusive Boeing 787 nacelle maintenance agreement with RTX’s Collins Aerospace through 2037. The renewal provides longer-term service visibility and supports recurring aftermarket revenue. Air Europa Extends Exclusive Boeing 787 Nacelle Maintenance Agreement
  • Neutral Sentiment: Analyst sentiment remains favorable: Coverage points to an average brokerage recommendation equivalent to “Buy,” although investors should recognize that analyst ratings can be overly optimistic and do not guarantee future performance. Is It Worth Investing in RTX Based on Wall Street’s Bullish Views?
  • Neutral Sentiment: Reports about NVIDIA GeForce RTX graphics cards, RTX Spark laptops, gaming PCs, and related pricing or software issues refer to NVIDIA products—not RTX Corporation—and are unlikely to affect RTX stock.

RTX Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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