Bank of Nova Scotia Cuts Holdings in RTX Corporation $RTX

Key Points

• Bank of Nova Scotia reduced its RTX stake by 29.9% in the first quarter, selling 129,851 shares and leaving it with 304,987 shares valued at about $58.8 million.
• RTX reported strong quarterly results, with EPS of $1.89 and revenue of $24.71 billion, both ahead of analyst expectations. Revenue rose 14.5% year over year, and the company also raised its FY 2026 guidance.
• The stock has support from analysts and income investors, with several firms maintaining or raising bullish ratings and RTX declaring a quarterly dividend of $0.73 per share, yielding about 1.4%.

Bank of Nova Scotia cut its holdings in RTX Corporation (NYSE:RTX - Free Report) by 29.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 304,987 shares of the company's stock after selling 129,851 shares during the quarter. Bank of Nova Scotia's holdings in RTX were worth $58,832,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Alpha Cubed Investments LLC lifted its stake in shares of RTX by 0.3% in the fourth quarter. Alpha Cubed Investments LLC now owns 14,720 shares of the company's stock valued at $2,700,000 after purchasing an additional 50 shares during the period. LeConte Wealth Management LLC raised its stake in shares of RTX by 2.3% during the 4th quarter. LeConte Wealth Management LLC now owns 2,247 shares of the company's stock worth $412,000 after buying an additional 51 shares during the last quarter. Rydar Equities Inc. lifted its holdings in shares of RTX by 0.4% in the fourth quarter. Rydar Equities Inc. now owns 13,524 shares of the company's stock valued at $2,480,000 after purchasing an additional 52 shares in the last quarter. Schulhoff & Co. Inc. increased its position in RTX by 1.7% during the fourth quarter. Schulhoff & Co. Inc. now owns 3,188 shares of the company's stock worth $585,000 after buying an additional 52 shares in the last quarter. Finally, Howard Capital Management Inc. lifted its holdings in RTX by 0.4% in the 4th quarter. Howard Capital Management Inc. now owns 12,340 shares of the company's stock valued at $2,263,000 after purchasing an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Up 1.9%

Shares of RTX stock opened at $213.09 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 0.47. RTX Corporation has a 12-month low of $150.61 and a 12-month high of $214.89. The firm has a market capitalization of $286.97 billion, a PE ratio of 37.52, a price-to-earnings-growth ratio of 2.76 and a beta of 0.30. The stock's fifty day moving average is $187.08 and its 200-day moving average is $192.19.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.23. RTX had a return on equity of 13.99% and a net margin of 8.28%.The firm had revenue of $24.71 billion for the quarter, compared to the consensus estimate of $22.89 billion. During the same quarter in the previous year, the company earned $1.56 EPS. The business's revenue for the quarter was up 14.5% compared to the same quarter last year. RTX has set its FY 2026 guidance at 7.100-7.250 EPS. Equities analysts anticipate that RTX Corporation will post 7.18 earnings per share for the current year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Friday, August 14th will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, August 14th. RTX's dividend payout ratio is 51.41%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RTX shares. Jefferies Financial Group reiterated a "buy" rating on shares of RTX in a research report on Wednesday, July 8th. Melius Research upgraded RTX from a "hold" rating to a "buy" rating in a research note on Thursday, April 2nd. Royal Bank Of Canada raised their price target on shares of RTX from $230.00 to $250.00 and gave the company an "outperform" rating in a report on Friday. Wall Street Zen lowered shares of RTX from a "strong-buy" rating to a "buy" rating in a research note on Sunday, April 26th. Finally, Citigroup reaffirmed a "buy" rating on shares of RTX in a report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, RTX has an average rating of "Moderate Buy" and a consensus target price of $218.62.

Key RTX News

Here are the key news stories impacting RTX this week:

• Positive Sentiment: RTX reported better-than-expected Q2 adjusted EPS of $1.89 on revenue of $24.71 billion, topping Wall Street estimates and showing 14.5% year-over-year revenue growth. RTX Beats on Q2 Earnings, Lifts Full-Year 2026 Guidance
• Positive Sentiment: The company raised full-year 2026 guidance for sales, EPS, and free cash flow, signaling management sees momentum continuing into the rest of the year. RTX Reports Q2 2026 Results
• Positive Sentiment: RTX highlighted a record $289 billion backlog and more than $5 billion in Patriot-related bookings, including its first U.S. Patriot order in over 30 years, reinforcing strong demand for missile and defense systems. QUICK SPARK: RTX Just Received Its First US Patriot Order in 30 Years
• Positive Sentiment: Several analysts turned more constructive, with RBC and Morgan Stanley pointing to stronger aerospace and defense demand, margin upside, and additional growth potential through 2027. RTX Q2 Results Beat Expectations on Strong Aerospace, Defense Demand, RBC Says
• Neutral Sentiment: Wells Fargo raised its price target on RTX, but kept an “equal weight” rating, suggesting a more balanced view despite the improved outlook.
• Negative Sentiment: Some commentary noted potential headwinds tied to geopolitical risks and execution challenges, which could limit upside if defense demand or operations soften. RTX Stock Rises After Strong Earnings but Faces Two Iran War Headwinds

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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