18,700 RTX Corporation $RTX Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems reduced its RTX holdings by 41.6% in the third quarter, selling 18,700 shares and retaining 26,300 shares valued at approximately $4.88 million. Institutional investors collectively own 86.5% of RTX.
• RTX reported strong quarterly results, with adjusted earnings of $2.26 per share and revenue of $24.96 billion, surpassing analyst expectations; revenue increased 11.1% year over year.
• The company declared a quarterly dividend of $0.73 per share, equivalent to an annualized $2.92 and a 1.5% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $231.24.

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its holdings in RTX Corporation (NYSE:RTX - Free Report) by 41.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,300 shares of the company's stock after selling 18,700 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in RTX were worth $4,883,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Parcion Private Wealth LLC increased its position in RTX by 20.9% during the 3rd quarter. Parcion Private Wealth LLC now owns 9,319 shares of the company's stock valued at $1,730,000 after purchasing an additional 1,610 shares during the period. Partners Wealth Management LLC lifted its position in shares of RTX by 80.5% in the 3rd quarter. Partners Wealth Management LLC now owns 2,087 shares of the company's stock worth $387,000 after purchasing an additional 931 shares during the period. Soltis Investment Advisors LLC boosted its stake in shares of RTX by 59.4% in the 3rd quarter. Soltis Investment Advisors LLC now owns 28,132 shares of the company's stock valued at $5,223,000 after purchasing an additional 10,483 shares during the last quarter. Harbour Trust & Investment Management Co boosted its stake in shares of RTX by 0.8% in the 3rd quarter. Harbour Trust & Investment Management Co now owns 102,612 shares of the company's stock valued at $19,050,000 after purchasing an additional 792 shares during the last quarter. Finally, Choreo LLC increased its position in shares of RTX by 0.6% during the third quarter. Choreo LLC now owns 100,742 shares of the company's stock worth $18,703,000 after buying an additional 555 shares during the period. Institutional investors own 86.50% of the company's stock.

RTX Stock Performance

Shares of RTX opened at $200.09 on Monday. The stock has a 50-day moving average of $194.81 and a 200-day moving average of $195.55. RTX Corporation has a one year low of $166.74 and a one year high of $226.88. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.81. The company has a market cap of $270.01 billion, a PE ratio of 32.48, a P/E/G ratio of 2.23 and a beta of 0.30.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.78 by $0.48. RTX had a net margin of 8.75% and a return on equity of 14.89%. The firm had revenue of $24.96 billion during the quarter, compared to analysts' expectations of $24.11 billion. During the same period last year, the company earned $1.70 earnings per share. The business's revenue was up 11.1% on a year-over-year basis. On average, equities research analysts predict that RTX Corporation will post 7.67 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 20th will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, November 20th. RTX's dividend payout ratio is currently 47.40%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Rothschild & Co Redburn boosted their target price on shares of RTX from $180.00 to $215.00 and gave the company a "neutral" rating in a report on Wednesday, July 29th. Jefferies Financial Group set a $250.00 price target on RTX and gave the stock a "buy" rating in a report on Sunday, July 26th. Weiss Ratings raised RTX from a "buy (b)" rating to a "buy (a-)" rating in a research note on Thursday, October 22nd. Argus set a $245.00 target price on RTX and gave the company a "buy" rating in a research report on Thursday, July 30th. Finally, Susquehanna raised their target price on RTX from $235.00 to $245.00 and gave the stock a "positive" rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $231.24.

Key Headlines Impacting RTX

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Defense-sector analysts expect an improving relationship between government agencies and contractors to reduce the risks associated with fixed-price development contracts, which have caused losses across the industry. Lower execution risk could support higher valuations for RTX and other major defense companies. Prediction: Defense Stocks Like Lockheed Martin, RTX, and Boeing Are Set to Soar
• Positive Sentiment: Continued U.S. defense spending, heightened geopolitical tensions involving Iran, and demand for aerospace and missile-defense systems are cited as long-term catalysts for RTX. These themes could improve investor expectations for defense contractors’ revenue visibility and backlog. Meghan Welch's Bull Case in Defense & Aerospace as U.S.-Iran War Lingers
• Positive Sentiment: The proposed Golden Dome missile-defense network, reportedly starting at $185 billion and potentially reaching $1.2 trillion over 20 years including sustainment, could create substantial opportunities for major aerospace and defense suppliers such as RTX. The article does not identify RTX’s specific role or awarded contracts, so the benefit remains prospective. Golden Dome Is a $185 Billion Program, but Anduril Is Private. Here Are the 3 Public Companies Building It.
• Neutral Sentiment: Several articles concern NVIDIA’s GeForce RTX graphics cards, including RTX 5090 and RTX 5080 availability, gaming performance, and PC hardware deals. “RTX” in those headlines refers to NVIDIA’s product brand, not RTX Corporation, and therefore should not materially affect RTX shares.

Insiders Place Their Bets

In related news, EVP Ramsaran Maharajh sold 13,655 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $223.92, for a total value of $3,057,627.60. Following the completion of the transaction, the executive vice president directly owned 13,184 shares of the company's stock, valued at approximately $2,952,161.28. This trade represents a 50.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.10% of the stock is owned by corporate insiders.

About RTX

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.

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