RTX Corporation $RTX Shares Sold by Novare Capital Management LLC

Key Points

• Novare Capital Management cut its RTX stake by 6.3% in the first quarter, selling 6,569 shares and leaving it with 97,299 shares worth about $18.8 million. Even after the trim, RTX remained one of the firm’s larger holdings.
• RTX reported better-than-expected quarterly results, with EPS of $1.78 versus $1.52 estimated and revenue of $22.08 billion versus $21.38 billion expected. The company also raised its quarterly dividend to $0.73 per share from $0.68.
• Analysts remain generally constructive on the stock, with a Moderate Buy consensus and an average price target of $211.38. However, some firms have recently lowered targets, including Morgan Stanley and UBS, reflecting mixed sentiment.

Novare Capital Management LLC lessened its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 6.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 97,299 shares of the company's stock after selling 6,569 shares during the quarter. RTX comprises about 1.5% of Novare Capital Management LLC's investment portfolio, making the stock its 17th biggest holding. Novare Capital Management LLC's holdings in RTX were worth $18,769,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RTX. Brighton Jones LLC lifted its holdings in shares of RTX by 24.3% in the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock valued at $1,969,000 after buying an additional 3,332 shares during the period. Revolve Wealth Partners LLC grew its holdings in RTX by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock worth $564,000 after acquiring an additional 159 shares during the period. United Bank raised its position in RTX by 68.0% in the second quarter. United Bank now owns 10,202 shares of the company's stock worth $1,490,000 after acquiring an additional 4,131 shares in the last quarter. Schnieders Capital Management LLC. raised its position in RTX by 3.1% in the second quarter. Schnieders Capital Management LLC. now owns 20,900 shares of the company's stock worth $3,052,000 after acquiring an additional 623 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in RTX in the 2nd quarter valued at about $5,157,000. Institutional investors own 86.50% of the company's stock.

RTX Trading Down 2.0%

Shares of RTX opened at $181.97 on Tuesday. The business's 50-day moving average price is $181.43 and its 200 day moving average price is $189.71. The company has a current ratio of 1.02, a quick ratio of 0.78 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $245.06 billion, a P/E ratio of 34.14, a P/E/G ratio of 2.63 and a beta of 0.31. RTX Corporation has a 1-year low of $140.47 and a 1-year high of $214.50.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.52 by $0.26. RTX had a net margin of 8.03% and a return on equity of 13.50%. The company had revenue of $22.08 billion during the quarter, compared to analyst estimates of $21.38 billion. During the same period in the prior year, the firm earned $1.47 earnings per share. The business's quarterly revenue was up 8.7% on a year-over-year basis. RTX has set its FY 2026 guidance at 6.600-6.800 EPS. Analysts expect that RTX Corporation will post 6.91 earnings per share for the current year.

RTX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Friday, May 22nd were issued a dividend of $0.73 per share. This is an increase from RTX's previous quarterly dividend of $0.68. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, May 22nd. RTX's dividend payout ratio (DPR) is presently 54.78%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RTX shares. Weiss Ratings lowered shares of RTX from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, June 11th. Morgan Stanley dropped their target price on shares of RTX from $235.00 to $220.00 and set an "overweight" rating on the stock in a report on Wednesday, April 22nd. UBS Group reduced their target price on shares of RTX from $209.00 to $199.00 and set a "neutral" rating for the company in a report on Wednesday, April 22nd. Wells Fargo & Company began coverage on shares of RTX in a research report on Wednesday, April 1st. They issued an "equal weight" rating and a $200.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $240.00 price target on shares of RTX in a report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $211.38.

RTX News Summary

Here are the key news stories impacting RTX this week:

• Positive Sentiment: RTX is highlighted for expanding connected aviation capabilities through advanced avionics, communications, and data-management technologies, reinforcing its growth story in commercial aerospace and defense electronics. How Is RTX Advancing Connectivity Across Modern Aviation Systems?
• Positive Sentiment: Coverage noting record defense backlogs and higher military spending supports the broader defense contractor group, which can be favorable for RTX’s long-term order visibility and earnings outlook. Defense ETFs to Buy Now as Record Backlogs Signal Sustained Growth
• Neutral Sentiment: RTX’s sale of Blue Canyon Technologies to MDA Space may help sharpen strategic focus, but the transaction also reduces exposure to part of the small-satellite market, making the overall impact mixed. RTX (RTX) Sells Blue Canyon As China Export Curbs Add Supply Risk
• Negative Sentiment: New Chinese export controls on rare earth and defense-related materials add fresh supply-chain uncertainty for RTX and other U.S. defense contractors, potentially raising costs and complicating sourcing. RTX (RTX) Sells Blue Canyon As China Export Curbs Add Supply Risk

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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