RTX Corporation $RTX Stock Bought by Soltis Investment Advisors LLC

Key Points

• Soltis Investment Advisors increased its RTX position by 59.4% in the third quarter, owning 28,132 shares worth approximately $5.2 million. Institutional investors and hedge funds collectively own 86.5% of RTX.
• RTX reported quarterly earnings of $2.26 per share, beating estimates by $0.48, while revenue rose 11.1% year over year to $24.96 billion. The company also declared a quarterly dividend of $0.73 per share, representing a 1.5% yield.
• Analysts maintain a “Moderate Buy” consensus on RTX, with an average price target of $228.86 versus the stock’s reported price of $199.99.

Soltis Investment Advisors LLC lifted its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 59.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,132 shares of the company's stock after purchasing an additional 10,483 shares during the quarter. Soltis Investment Advisors LLC's holdings in RTX were worth $5,223,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in RTX during the 2nd quarter worth $20,970,571,000. State Street Corp lifted its holdings in RTX by 3.1% during the second quarter. State Street Corp now owns 95,417,318 shares of the company's stock worth $18,103,528,000 after acquiring an additional 2,828,056 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in RTX by 5.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,693,939 shares of the company's stock valued at $1,649,501,000 after acquiring an additional 411,356 shares during the period. Dimensional Fund Advisors LP grew its stake in RTX by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 7,649,112 shares of the company's stock valued at $1,475,296,000 after acquiring an additional 95,726 shares during the period. Finally, Amundi grew its stake in RTX by 4.0% in the second quarter. Amundi now owns 7,768,207 shares of the company's stock valued at $1,473,862,000 after acquiring an additional 295,964 shares during the period. Institutional investors and hedge funds own 86.50% of the company's stock.

RTX Stock Performance

Shares of RTX stock opened at $199.99 on Friday. The company's fifty day simple moving average is $195.06 and its 200-day simple moving average is $195.52. The company has a quick ratio of 0.81, a current ratio of 1.05 and a debt-to-equity ratio of 0.44. The firm has a market cap of $269.87 billion, a PE ratio of 32.47, a P/E/G ratio of 2.19 and a beta of 0.31. RTX Corporation has a 12 month low of $166.74 and a 12 month high of $226.88.

RTX (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, October 20th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $1.78 by $0.48. The business had revenue of $24.96 billion during the quarter, compared to analysts' expectations of $24.11 billion. RTX had a net margin of 8.75% and a return on equity of 14.89%. The firm's revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.70 earnings per share. Equities research analysts expect that RTX Corporation will post 7.66 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 20th will be 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 is Friday, November 20th. RTX's dividend payout ratio is currently 47.40%.

Key RTX News

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Quarterly dividend declared: RTX’s board approved a cash dividend of $0.73 per share, reinforcing the company’s shareholder-return commitment. RTX Board of Directors Declares Quarterly Cash Dividend
• Positive Sentiment: Raised outlook and strong operating momentum: Recent coverage highlights RTX’s third-quarter revenue and earnings beat, higher guidance, record backlogs, and signs of recovery in commercial aerospace demand. Those factors have strengthened the valuation case, with one analysis estimating the stock could be approximately 14% undervalued. RTX Could Be 14% Undervalued As Raised Guidance Lifts The Valuation Case
• Positive Sentiment: Long-term Collins Aerospace contract: Air Europa extended its exclusive Boeing 787 nacelle maintenance agreement with RTX’s Collins Aerospace through 2037. The renewal provides longer-term service visibility and supports recurring aftermarket revenue. Air Europa Extends Exclusive Boeing 787 Nacelle Maintenance Agreement
• Neutral Sentiment: Analyst sentiment remains favorable: Coverage points to an average brokerage recommendation equivalent to “Buy,” although investors should recognize that analyst ratings can be overly optimistic and do not guarantee future performance. Is It Worth Investing in RTX Based on Wall Street’s Bullish Views?
• Neutral Sentiment: Reports about NVIDIA GeForce RTX graphics cards, RTX Spark laptops, gaming PCs, and related pricing or software issues refer to NVIDIA products—not RTX Corporation—and are unlikely to affect RTX stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on RTX shares. UBS Group raised their price target on RTX from $209.00 to $212.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 21st. Sanford C. Bernstein cut their price objective on RTX from $223.00 to $214.00 and set a "market perform" rating on the stock in a report on Thursday, October 15th. Rothschild & Co Redburn boosted their price objective on RTX from $180.00 to $215.00 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. The Goldman Sachs Group increased their target price on RTX from $195.00 to $206.00 and gave the stock a "neutral" rating in a research note on Monday, July 27th. Finally, Susquehanna raised their target price on shares of RTX from $235.00 to $245.00 and gave the stock a "positive" rating in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, RTX currently has a consensus rating of "Moderate Buy" and a consensus price target of $228.86.

Insider Buying and Selling at RTX

In other news, EVP Ramsaran Maharajh sold 13,655 shares of the firm's stock in a transaction dated 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 transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is owned by insiders.

RTX Company Profile

RTX Corporation NYSE: RTX is an aerospace and defense company that develops and manufactures products and systems for commercial aviation, business aviation, military aircraft and government customers. Its portfolio includes aircraft engines, avionics, flight-control systems, cabin interiors, communications equipment, air and missile defense systems, precision weapons, radars and advanced sensors.

The company operates through three principal businesses: Collins Aerospace, which supplies aerospace systems and components; Pratt & Whitney, which designs and produces aircraft engines and related services; and Raytheon, which provides defense and intelligence technologies.

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