RTX Corporation $RTX Stock Holdings Trimmed by Global Wealth Management Investment Advisory Inc.

Key Points

• Global Wealth Management Investment Advisory cut its RTX stake by 20.2% in the third quarter, selling 5,690 shares and retaining 22,411 shares valued at about $4.16 million.
• RTX reported quarterly adjusted earnings of $2.26 per share, above the $1.78 consensus estimate, while revenue rose 11.1% year over year to $24.96 billion.
• RTX is reportedly considering expanding Tomahawk and AMRAAM missile production as much as fourfold by 2030; separately, Raytheon completed a third successful flight test of its DeepStrike JR3 rocket.

Global Wealth Management Investment Advisory Inc. trimmed its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 20.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,411 shares of the company's stock after selling 5,690 shares during the period. Global Wealth Management Investment Advisory Inc.'s holdings in RTX were worth $4,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Fortress Financial Group LLC purchased a new position in shares of RTX in the 2nd quarter valued at about $358,000. Evergreen Advisors LLC acquired a new stake in shares of RTX during the 1st quarter worth about $31,000. BOK Financial Private Wealth Inc. purchased a new stake in RTX during the second quarter worth approximately $36,000. Next Level Wealth Planning LLC purchased a new stake in RTX during the third quarter worth approximately $41,000. Finally, Midwest Capital Advisors LLC purchased a new stake in RTX during the third quarter worth approximately $42,000. 86.50% of the stock is owned by institutional investors and hedge funds.

More RTX News

Here are the key news stories impacting RTX this week:

• Positive Sentiment: RTX is reportedly planning to increase Tomahawk and AMRAAM missile production as much as fourfold by 2030. If carried out, the expansion could help the company capture more defense demand, though the report describes a plan rather than completed production growth. Tomahawk and AMRAAM production report
• Positive Sentiment: Raytheon completed a third successful flight test of its DeepStrike JR3 rocket for the U.S. Army’s Joint Reduced Range Rocket program. The test demonstrated the system’s capabilities and may strengthen Raytheon’s position as the Army evaluates a replacement for its training rocket; it does not itself confirm a contract award. Raytheon JR3 flight test announcement

Insider Activity at RTX

In related news, EVP Ramsaran Maharajh sold 13,655 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were 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 owned 13,184 shares in the company, valued at $2,952,161.28. This represents a 50.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 9,071 shares of the company's stock in a transaction on Friday, October 30th. The shares were sold at an average price of $201.70, for a total transaction of $1,829,620.70. Following the completion of the sale, the executive vice president owned 16,930 shares of the company's stock, valued at approximately $3,414,781. This trade represents a 34.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.10% of the stock is currently owned by corporate insiders.

RTX Stock Up 3.6%

RTX opened at $196.35 on Tuesday. The business's 50-day simple moving average is $193.15 and its 200-day simple moving average is $195.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.81 and a current ratio of 1.05. RTX Corporation has a one year low of $166.74 and a one year high of $226.88. The stock has a market capitalization of $264.96 billion, a P/E ratio of 31.87, a price-to-earnings-growth ratio of 2.21 and a beta of 0.30.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, October 20th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.48. The business had revenue of $24.96 billion during the quarter, compared to the consensus estimate of $24.11 billion. RTX had a return on equity of 14.89% and a net margin of 8.75%. The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.70 EPS. Analysts anticipate that RTX Corporation will post 7.68 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 20th will be paid a $0.73 dividend. The ex-dividend date is Friday, November 20th. This represents a $2.92 dividend on an annualized basis and a yield of 1.5%. RTX's payout ratio is currently 47.40%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on RTX shares. Weiss Ratings raised RTX from a "buy (b)" rating to a "buy (a-)" rating in a report on Thursday, October 22nd. Argus set a $245.00 price objective on shares of RTX and gave the stock a "buy" rating in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft cut shares of RTX from a "buy" rating to a "hold" rating and set a $208.00 price objective on the stock. in a report on Tuesday, October 13th. BNP Paribas Exane boosted their price objective on shares of RTX from $220.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. Finally, TD Cowen lowered their target price on shares of RTX from $240.00 to $225.00 and set a "buy" rating for the company in a report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $231.24.

RTX Company Profile

RTX Corporation is an aerospace and defense company whose businesses include Collins Aerospace, Pratt & Whitney and Raytheon. The company serves commercial aviation, military and government customers around the world.

Collins Aerospace develops aircraft systems and components, including avionics, communications, flight controls and cabin equipment. Pratt & Whitney designs and manufactures aircraft engines and provides related maintenance services. Raytheon develops defense systems and technologies, including air and missile defense, sensors and precision weapons.

RTX was formed in 2020 through the combination of Raytheon Company and United Technologies Corporation.

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