43,522 RTX Corporation $RTX Shares Sold by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services reduced its RTX stake by 5.3%, selling 43,522 shares in the third quarter; it still held 776,963 shares valued at about $144.2 million. Institutional investors own 86.5% of RTX.
• RTX reported quarterly EPS of $2.26, beating the $1.78 estimate, while revenue rose 11.1% year over year to $24.96 billion.
• Raytheon won an early-stage DARPA contract for optical signal-processing technology, while RTX’s defense outlook also faces uncertainty over a major spending proposal. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $231.24.

Commonwealth Equity Services LLC cut its holdings in RTX Corporation (NYSE:RTX - Free Report) by 5.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 776,963 shares of the company's stock after selling 43,522 shares during the quarter. Commonwealth Equity Services LLC owned about 0.06% of RTX worth $144,243,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in RTX. BlackRock Inc. acquired a new stake in shares of RTX during the second quarter worth about $20,970,571,000. State Street Corp increased its position 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 acquiring an additional 2,828,056 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position 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 acquiring an additional 411,356 shares during the period. Amundi increased its position in RTX by 4.0% in 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 purchased a new stake in RTX during the 2nd quarter valued at approximately $1,456,256,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting RTX

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Raytheon won a phase-one DARPA contract to develop optical signal processing technology aimed at helping military operators detect and respond to threats faster. It adds to RTX’s defense technology pipeline, though the initial award is an early-stage contract. Article: RTX's Raytheon wins DARPA contract
• Positive Sentiment: A commentary pointed to longer-term demand for RTX’s Patriot systems, radars, and interceptors, alongside manufacturing investments to expand capacity. It cited a $340 billion backlog and raised full-year free-cash-flow guidance of $9 billion to $9.2 billion; these support the outlook but depend on execution and are not new orders announced today. Article: America’s Military Rebuild Starts With a Manufacturing Problem
• Negative Sentiment: The election outcome has put a major defense-spending proposal in doubt, raising concern that budget delays or reduced spending could constrain future contract growth for defense contractors, including RTX. Article: Defense Stocks Sank as Democrats Took Congress

Analyst Ratings Changes

RTX has been the subject of a number of recent research reports. Royal Bank Of Canada decreased their price objective on RTX from $250.00 to $235.00 and set an "outperform" rating for the company in a research report on Thursday, October 15th. Wells Fargo & Company boosted their target price on RTX from $200.00 to $230.00 and gave the company an "equal weight" rating in a report on Friday, July 24th. Robert W. Baird set a $240.00 price target on RTX in a research note on Friday, July 24th. Rothschild & Co Redburn upped their price target on RTX from $180.00 to $215.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. Finally, BNP Paribas Exane increased their price target on RTX from $220.00 to $265.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $231.24.

RTX Stock Down 3.3%

Shares of NYSE:RTX opened at $191.97 on Friday. RTX Corporation has a fifty-two week low of $166.74 and a fifty-two week high of $226.88. The company has a quick ratio of 0.81, a current ratio of 1.05 and a debt-to-equity ratio of 0.44. The firm's 50-day simple moving average is $193.91 and its 200-day simple moving average is $195.56. The company has a market cap of $259.05 billion, a price-to-earnings ratio of 31.16, a PEG ratio of 2.21 and a beta of 0.30.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.48. The firm had revenue of $24.96 billion during the quarter, compared to analysts' expectations of $24.11 billion. RTX had a net margin of 8.75% and a return on equity of 14.89%. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.70 earnings per share. As a group, equities research analysts predict that RTX Corporation will post 7.68 earnings per share for the current year.

RTX Dividend Announcement

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

Insider Activity at RTX

In other news, EVP Ramsaran Maharajh sold 13,655 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $2,952,161.28. This represents a 50.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Dantaya M. Williams sold 9,071 shares of the firm's stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $201.70, for a total value of $1,829,620.70. Following the completion of the sale, the executive vice president directly owned 16,930 shares of the company's stock, valued at $3,414,781. This represents a 34.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.10% of the company's stock.

RTX Profile

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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