Connor Clark & Lunn Investment Management Ltd. Takes Position in RTX Corporation $RTX

Connor Clark & Lunn Investment Management Ltd. purchased a new position in RTX Corporation (NYSE:RTX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 888,053 shares of the company's stock, valued at approximately $168,490,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of RTX as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of RTX in the 2nd quarter valued at approximately $20,970,571,000. Norges Bank bought a new stake in shares of RTX in the fourth quarter worth $3,167,626,000. Auto Owners Insurance Co increased its stake in shares of RTX by 24,730.9% in the fourth quarter. Auto Owners Insurance Co now owns 10,102,956 shares of the company's stock worth $1,852,882,000 after buying an additional 10,062,269 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in RTX in the second quarter valued at $1,456,256,000. Finally, Deutsche Bank AG acquired a new stake in RTX in the second quarter valued at $725,900,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Key Headlines Impacting RTX

Here are the key news stories impacting RTX this week:

• Positive Sentiment: The European Commission closed its antitrust investigation into Pratt & Whitney Canada, RTX’s aircraft-engine unit. The decision removes the risk of potential enforcement action, fines or business restrictions tied to the probe. EU closes antitrust probe into RTX's Pratt & Whitney
• Positive Sentiment: Raytheon secured a roughly $22.9 billion, seven-year U.S. Navy Tomahawk missile contract. The award should improve long-term revenue visibility, support higher production and strengthen RTX’s defense backlog through the 2030s. Can RTX's Tomahawk Production Ramp-Up Enhance Its Growth Prospects?
• Positive Sentiment: Recent quarterly results also remain supportive: RTX exceeded EPS and revenue expectations, posted 14.5% year-over-year revenue growth and raised confidence in its fiscal 2026 outlook. These results reinforce the company’s ability to convert its backlog into cash-generating programs. How Investors May Respond to RTX Winning a US$22.9 Billion Tomahawk Deal and Raising Guidance
• Neutral Sentiment: Broader market volatility, including concerns about Treasury policy, oil prices and upcoming inflation data, may be contributing to pressure across equities rather than reflecting a change in RTX’s fundamentals.
• Negative Sentiment: Executive Vice President Ramsaran Maharajh sold 13,655 RTX shares for approximately $3.06 million, cutting his direct holdings by about 51%. While the sale may be routine, it can weigh on sentiment when the stock is near its 52-week high. RTX EVP Sells 13,655 Shares
• Negative Sentiment: RTX trades at a demanding earnings multiple after a substantial rally. The valuation leaves less room for execution disappointments and may encourage investors to take profits.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RTX. Wells Fargo & Company raised their price objective on shares of RTX from $200.00 to $230.00 and gave the stock an "equal weight" rating in a report on Friday, July 24th. TD Cowen increased their price target on shares of RTX from $225.00 to $240.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Citigroup reiterated a "buy" rating on shares of RTX in a research note on Wednesday, June 17th. Morgan Stanley reissued an "overweight" rating and issued a $240.00 price objective on shares of RTX in a report on Friday, July 24th. Finally, Erste Group Bank cut RTX from a "buy" rating to a "hold" rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, RTX presently has an average rating of "Moderate Buy" and a consensus price target of $228.59.

RTX Trading Up 0.2%

RTX stock opened at $210.36 on Monday. RTX Corporation has a 1 year low of $150.61 and a 1 year high of $226.88. The firm's 50-day moving average is $203.73 and its 200-day moving average is $195.49. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.78 and a current ratio of 1.01. The company has a market cap of $283.51 billion, a P/E ratio of 37.04, a PEG ratio of 2.50 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 for the quarter, beating analysts' consensus estimates of $1.66 by $0.23. The business had revenue of $24.71 billion during the quarter, compared to the consensus estimate of $22.89 billion. RTX had a net margin of 8.28% and a return on equity of 13.99%. The company's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.56 EPS. RTX has set its FY 2026 guidance at 7.100-7.250 EPS. On average, equities analysts expect that RTX Corporation will post 7.22 earnings per share for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Friday, August 14th will be issued a dividend of $0.73 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.92 annualized dividend and a dividend yield of 1.4%. RTX's dividend payout ratio is 51.41%.

Insider Activity

In other news, VP Kevin G. Dasilva sold 4,760 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $213.62, for a total transaction of $1,016,831.20. Following the sale, the vice president directly owned 22,349 shares in the company, valued at approximately $4,774,193.38. This represents a 17.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ramsaran Maharajh sold 13,655 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The stock was 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 directly owned 13,184 shares in the company, valued at approximately $2,952,161.28. This trade represents a 50.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 29,222 shares of company stock valued at $6,362,003. 0.10% of the stock is currently owned by insiders.

About RTX

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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