RTX Corporation $RTX Shares Sold by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services trimmed its RTX position by 0.6% in the fourth quarter, though it still held 2.93 million shares valued at about $536.5 million. Institutional ownership remains very high at 86.5%.
• RTX reported better-than-expected first-quarter results, with EPS of $1.78 versus the $1.52 consensus 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.
• Wall Street sentiment is mixed but generally constructive: RTX carries an average rating of “Moderate Buy” with a consensus price target of $210.75. Recent analyst moves included both downgrades and upgrades, reflecting some caution despite solid fundamentals.

PNC Financial Services Group Inc. lessened its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,925,307 shares of the company's stock after selling 16,485 shares during the period. PNC Financial Services Group Inc. owned about 0.22% of RTX worth $536,501,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of RTX by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 124,986,171 shares of the company's stock valued at $22,922,464,000 after acquiring an additional 2,210,950 shares during the period. California Public Employees Retirement System lifted its stake in shares of RTX by 27.5% in the 3rd quarter. California Public Employees Retirement System now owns 4,796,746 shares of the company's stock worth $802,640,000 after acquiring an additional 1,034,456 shares during the period. Groupama Asset Managment bought a new position in RTX during the 3rd quarter valued at $150,078,000. Legal & General Group Plc boosted its stake in RTX by 13.4% during the third quarter. Legal & General Group Plc now owns 7,167,501 shares of the company's stock valued at $1,199,338,000 after buying an additional 846,656 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in shares of RTX by 1.1% during the 3rd quarter. Capital Research Global Investors now owns 76,197,762 shares of the company's stock valued at $12,750,087,000 after purchasing an additional 799,155 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RTX has been the topic of a number of recent research reports. DZ Bank cut RTX from a "hold" rating to a "strong sell" rating in a report on Friday, February 6th. Jefferies Financial Group dropped their price objective on shares of RTX from $225.00 to $210.00 and set a "hold" rating on the stock in a research note on Monday, April 13th. Morgan Stanley reduced their price target on RTX from $235.00 to $220.00 and set an "overweight" rating for the company in a report on Wednesday, April 22nd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of RTX in a research note on Friday, April 10th. Finally, Melius Research upgraded RTX from a "hold" rating to a "buy" rating in a report on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $210.75.

RTX Trading Down 0.8%

RTX stock opened at $174.51 on Wednesday. The business has a 50 day moving average price of $190.53 and a two-hundred day moving average price of $188.77. The company has a quick ratio of 0.78, a current ratio of 1.02 and a debt-to-equity ratio of 0.48. The stock has a market cap of $235.00 billion, a price-to-earnings ratio of 32.74, a price-to-earnings-growth ratio of 2.49 and a beta of 0.31. RTX Corporation has a 12 month low of $130.90 and a 12 month high of $214.50.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The company reported $1.78 earnings per share for the quarter, topping 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 firm had revenue of $22.08 billion for the quarter, compared to the consensus estimate of $21.38 billion. During the same quarter in the previous year, the company earned $1.47 earnings per share. The business's revenue was up 8.7% compared to the same quarter last year. RTX has set its FY 2026 guidance at 6.600-6.800 EPS. As a group, equities analysts forecast that RTX Corporation will post 6.91 EPS for the current year.

RTX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Friday, May 22nd will be given a dividend of $0.73 per share. This is a boost from RTX's previous quarterly dividend of $0.68. The ex-dividend date is Friday, May 22nd. This represents a $2.92 annualized dividend and a dividend yield of 1.7%. RTX's dividend payout ratio is 51.03%.

RTX News Summary

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Raytheon, an RTX business, won an Office of Naval Research contract to further develop software-defined radar for next-generation naval systems, a potential growth driver in a high-value defense market. RTX's Raytheon awarded contract to further develop next-generation software-defined radar capability
• Positive Sentiment: Raytheon completed the preliminary design review for NASA’s Landsat Next Instrument Suite, signaling progress on a space program that could add future revenue and strengthen RTX’s sensors and space portfolio. RTX's Raytheon completes design review of Landsat Next space instruments
• Neutral Sentiment: Brokerage sentiment remains constructive, with RTX rated an average “Moderate Buy,” which may help support investor confidence but does not materially change the near-term fundamentals. RTX Corporation NYSE: RTX Given Average Rating of "Moderate Buy" by Brokerages
• Neutral Sentiment: Several articles mentioning “RTX” relate to NVIDIA-branded gaming GPUs and laptops, not RTX Corporation, and are unlikely to affect the stock.

Insider Activity

In other news, EVP Dantaya M. Williams sold 12,713 shares of the business's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $202.83, for a total value of $2,578,577.79. Following the sale, the executive vice president owned 16,749 shares in the company, valued at approximately $3,397,199.67. The trade was a 43.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ramsaran Maharajh sold 15,124 shares of the business's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $204.65, for a total transaction of $3,095,126.60. Following the completion of the transaction, the executive vice president owned 13,184 shares in the company, valued at approximately $2,698,105.60. This trade represents a 53.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 63,592 shares of company stock worth $13,023,502. Corporate insiders own 0.10% of the company's stock.

RTX Company 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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