7,907 RTX Corporation $RTX Shares Sold by Everett Harris & Co. CA

Key Points

• Everett Harris & Co. CA reduced its RTX position by 7.5% in the third quarter, selling 7,907 shares and retaining 97,151 shares valued at approximately $18.0 million. Institutional investors collectively own 86.5% of RTX.
• RTX reported stronger-than-expected quarterly results, posting $2.26 in EPS versus the $1.78 consensus estimate and revenue of $24.96 billion, up 11.1% year over year. The stock opened at $199.99, while analysts’ consensus rating remains “Moderate Buy” with an average price target of $228.86.
• RTX’s board declared a $0.73-per-share quarterly dividend, while recent business momentum includes higher guidance, record backlogs and an extended Collins Aerospace maintenance agreement with Air Europa through 2037.

Everett Harris & Co. CA reduced its position in RTX Corporation (NYSE:RTX - Free Report) by 7.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,151 shares of the company's stock after selling 7,907 shares during the period. Everett Harris & Co. CA's holdings in RTX were worth $18,036,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Pine Valley Investments Ltd Liability Co lifted its holdings in RTX by 63.2% in the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 33,877 shares of the company's stock worth $6,535,000 after purchasing an additional 13,118 shares during the last quarter. Rokos Capital Management LLP grew its position in RTX by 804.3% in the 1st quarter. Rokos Capital Management LLP now owns 556,152 shares of the company's stock worth $107,265,000 after purchasing an additional 494,652 shares during the last quarter. Legal & General Group Plc bought a new position in RTX during the second quarter valued at about $1,267,256,000. Eastern Bank grew its holdings in shares of RTX by 112.0% during the 3rd quarter. Eastern Bank now owns 177,392 shares of the company's stock worth $32,933,000 after purchasing an additional 93,725 shares in the last quarter. Finally, Corient Private Wealth LP increased its position in shares of RTX by 2,669.1% during the second quarter. Corient Private Wealth LP now owns 1,399,904 shares of the company's stock valued at $265,604,000 after purchasing an additional 1,349,350 shares during the period. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Stock Performance

RTX stock opened at $199.99 on Friday. RTX Corporation has a 1 year low of $166.74 and a 1 year high of $226.88. The company has a market cap of $269.87 billion, a PE ratio of 32.47, a PEG ratio of 2.19 and a beta of 0.31. The company has a current ratio of 1.05, a quick ratio of 0.81 and a debt-to-equity ratio of 0.44. The company's 50-day moving average is $195.06 and its two-hundred day moving average is $195.52.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, October 20th. The company reported $2.26 EPS for the quarter, topping 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 analyst estimates of $24.11 billion. During the same quarter in the previous year, the business earned $1.70 EPS. The business's quarterly revenue was up 11.1% compared to the same quarter last year. Equities analysts anticipate that RTX Corporation will post 7.66 earnings per share for the current year.

Insider Buying and Selling

In other RTX news, EVP Ramsaran Maharajh sold 13,655 shares of the stock in a transaction 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 sale, the executive vice president directly owned 13,184 shares in the company, valued at approximately $2,952,161.28. This trade represents a 50.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.10% of the company's stock.

More RTX News

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.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RTX. DA Davidson upped their target price on RTX from $192.00 to $219.00 and gave the company a "neutral" rating in a research note on Monday, July 27th. TD Cowen decreased their price target on shares of RTX from $240.00 to $225.00 and set a "buy" rating on the stock in a research note on Friday, October 9th. Deutsche Bank Aktiengesellschaft lowered shares of RTX from a "buy" rating to a "hold" rating and set a $208.00 price target on the stock. in a report on Tuesday, October 13th. The Goldman Sachs Group increased their price objective on shares of RTX from $195.00 to $206.00 and gave the company a "neutral" rating in a research note on Monday, July 27th. Finally, Jefferies Financial Group set a $250.00 price objective on shares of RTX and gave the stock a "buy" rating in a report on Sunday, July 26th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, RTX has a consensus rating of "Moderate Buy" and an average price target of $228.86.

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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