Allworth Financial LP Trims Stock Position in RTX Corporation $RTX

Key Points

• Allworth Financial LP cut its RTX stake by 39.2% in the second quarter, selling 86,031 shares and retaining 133,458 shares worth approximately $25.3 million. Institutional investors and hedge funds collectively own 86.5% of RTX.
• RTX reported strong quarterly results, with EPS of $1.89 beating estimates by $0.23 and revenue rising 14.5% year over year to $24.71 billion. The company also declared a $0.73 quarterly dividend, equivalent to a 1.5% annualized yield.
• Despite recent trading around $198.77, analysts maintain a “Moderate Buy” consensus with an average price target of $228.59. RTX also secured a $472 million Chinook modernization contract, strengthening its defense backlog and revenue visibility.

Allworth Financial LP decreased its stake in RTX Corporation (NYSE:RTX - Free Report) by 39.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 133,458 shares of the company's stock after selling 86,031 shares during the period. Allworth Financial LP's holdings in RTX were worth $25,321,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RTX. Navalign LLC acquired a new position in RTX in the fourth quarter valued at $25,000. Commonwealth Retirement Investments LLC purchased a new stake in shares of RTX in the 4th quarter valued at about $26,000. Core Wealth Advisors LLC purchased a new stake in shares of RTX in the 4th quarter valued at about $31,000. 1 North Wealth Services LLC boosted its position in shares of RTX by 456.7% in the 4th quarter. 1 North Wealth Services LLC now owns 167 shares of the company's stock valued at $31,000 after purchasing an additional 137 shares during the period. Finally, Evergreen Advisors LLC purchased a new position in RTX during the 1st quarter worth approximately $31,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Performance

Shares of NYSE RTX traded down $2.02 during mid-day trading on Tuesday, hitting $198.77. 3,626,325 shares of the company were exchanged, compared to its average volume of 5,513,626. The stock has a 50 day simple moving average of $208.18 and a 200-day simple moving average of $196.09. RTX Corporation has a 1-year low of $150.61 and a 1-year high of $226.88. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 0.47. The firm has a market cap of $267.89 billion, a price-to-earnings ratio of 34.99, a price-to-earnings-growth ratio of 2.59 and a beta of 0.29.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.23. The company had revenue of $24.71 billion for the quarter, compared to analysts' expectations of $22.89 billion. RTX had a net margin of 8.28% and a return on equity of 13.99%. RTX's revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.56 EPS. RTX has set its FY 2026 guidance at 7.100-7.250 EPS. On average, sell-side analysts forecast that RTX Corporation will post 7.22 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Friday, August 14th were paid 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 was Friday, August 14th. RTX's payout ratio is 51.41%.

Insider Buying and Selling

In related news, EVP Ramsaran Maharajh sold 13,655 shares of the firm's stock in a transaction dated 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 sale, the executive vice president owned 13,184 shares in the company, valued at $2,952,161.28. This trade represents a 50.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Kevin G. Dasilva sold 4,760 shares of RTX stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $213.62, for a total value of $1,016,831.20. Following the completion of the sale, the vice president directly owned 22,349 shares in the company, valued at $4,774,193.38. This represents a 17.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 29,222 shares of company stock valued at $6,362,003 over the last ninety days. Corporate insiders own 0.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Argus set a $245.00 price objective on RTX in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of RTX from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 25th. Morgan Stanley reiterated an "overweight" rating and set a $240.00 price target on shares of RTX in a research note on Friday, July 24th. Robert W. Baird set a $240.00 price objective on shares of RTX in a research note on Friday, July 24th. Finally, Wells Fargo & Company upped their target price on shares of RTX from $200.00 to $230.00 and gave the company an "equal weight" rating in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $228.59.

Trending Headlines about RTX

Here are the key news stories impacting RTX this week:

• Positive Sentiment: RTX secured a $472 million Chinook modernization contract to upgrade avionics and support fleet readiness for the U.S. Army. The award should strengthen RTX’s defense backlog, provide longer-term revenue visibility and reinforce its position in military aerospace modernization. Can Chinook Modernization Strengthen RTX's Defense Growth?
• Neutral Sentiment: Repeated coverage of the Chinook award highlights improving defense demand, but the contract alone is unlikely to materially change near-term earnings expectations. Investors may continue focusing on execution, margins and RTX’s aerospace supply-chain recovery following its strong latest quarterly results.
• Neutral Sentiment: Most other headlines reference NVIDIA’s RTX-branded GPUs, including RTX 50-series laptops, RTX Spark systems, DLSS modifications and reports of a melted RTX 5090 power connector. These stories may affect NVIDIA, but they have no direct operational connection to RTX Corporation.

RTX Profile

RTX NYSE: RTX is a U.S.-based aerospace and defense company that designs, manufactures and services advanced systems for commercial, military and governmental customers worldwide. The company was created through the 2020 combination of Raytheon Company and United Technologies Corporation and later adopted the RTX name, positioning itself as a diversified provider across the aerospace and defense value chain.

RTX's operations span a broad set of capabilities. Its commercial aerospace businesses include Pratt & Whitney aircraft engines and Collins Aerospace systems, which supply propulsion, avionics, aerostructures, interiors and integrated aircraft systems.

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