RTX Corporation $RTX Stock Purchased by Provenance Wealth Advisors LLC

Key Points

• Provenance Wealth Advisors increased its RTX holdings by 818.3% in the third quarter, adding 20,834 shares to hold 23,380 shares worth about $4.34 million. Institutional investors collectively own 86.5% of RTX.
• RTX beat quarterly expectations, reporting adjusted earnings of $2.26 per share versus $1.78 expected and revenue of $24.96 billion, up 11.1% year over year.
• Analysts have a “Moderate Buy” consensus rating and an average price target of $231.24; two RTX executive vice presidents recently disclosed stock sales.

Provenance Wealth Advisors LLC lifted its holdings in RTX Corporation (NYSE:RTX - Free Report) by 818.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,380 shares of the company's stock after buying an additional 20,834 shares during the period. Provenance Wealth Advisors LLC's holdings in RTX were worth $4,340,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of RTX during the second quarter valued at approximately $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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in RTX by 5.0% during 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 worth $1,649,501,000 after acquiring an additional 411,356 shares during the period. Amundi boosted its position in RTX by 4.0% in the second quarter. Amundi now owns 7,768,207 shares of the company's stock worth $1,473,862,000 after purchasing an additional 295,964 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in RTX in the second quarter worth $1,456,256,000. 86.50% of the stock is owned by institutional investors.

Insider Activity

In other RTX news, EVP Ramsaran Maharajh sold 13,655 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $223.92, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dantaya M. Williams sold 9,071 shares of RTX stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $201.70, for a total transaction of $1,829,620.70. Following the completion of the transaction, the executive vice president owned 16,930 shares of the company's stock, valued at $3,414,781. The trade was 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 owned by corporate insiders.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of recent analyst reports. UBS Group upped their price objective on RTX from $209.00 to $212.00 and gave the company a "neutral" rating in a research note on Wednesday, October 21st. Citigroup reiterated a "buy" rating on shares of RTX in a research note on Wednesday, October 7th. Rothschild & Co Redburn boosted their price target on shares of RTX from $180.00 to $215.00 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Susquehanna boosted their price target on shares of RTX from $235.00 to $245.00 and gave the stock a "positive" rating in a report on Friday, July 24th. Finally, Sanford C. Bernstein reduced their price target on shares of RTX from $223.00 to $214.00 and set a "market perform" rating for the company in a research report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, RTX has a consensus rating of "Moderate Buy" and a consensus price target of $231.24.

RTX Stock Performance

NYSE:RTX opened at $203.70 on Wednesday. The company has a market capitalization of $274.88 billion, a P/E ratio of 33.07, a P/E/G ratio of 2.26 and a beta of 0.30. The business has a fifty day simple moving average of $194.55 and a two-hundred day simple moving average of $195.62. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.81. RTX Corporation has a 1 year low of $166.74 and a 1 year high of $226.88.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, October 20th. The company reported $2.26 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.48. The firm had revenue of $24.96 billion for the quarter, compared to analysts' expectations of $24.11 billion. RTX had a return on equity of 14.89% and a net margin of 8.75%. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.70 EPS. On average, analysts expect that RTX Corporation will post 7.67 earnings per share for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 20th will be paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, November 20th. RTX's payout ratio is currently 47.40%.

Trending Headlines about RTX

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Raytheon, an RTX business, won a phase-one DARPA contract to develop all-optical signal processing for the PICASSO program. The technology is intended to help military operators detect and respond to threats faster, adding to RTX’s defense-technology pipeline, though the initial award is an early-stage development contract. Article: RTX's Raytheon to develop new optical signal processing capability
• Positive Sentiment: A commentary highlighted potential longer-term demand for RTX’s Patriot, radar, and counter-drone systems as militaries replenish weapons and expand air defenses. This is an industry-demand thesis rather than a newly announced order for RTX. Article: Why I’m Watching This Missile Defense Giant as America Rearms for Drone Warfare
• Neutral Sentiment: Wall Street analysts were described as cautiously optimistic, reflecting RTX’s past outperformance but not signaling a clear near-term change in expectations. Article: Are Wall Street Analysts Bullish on RTX Corporation Stock?
• Negative Sentiment: EVP Dantaya Williams sold 9,071 shares for about $1.83 million, reducing her holdings by roughly 35%. Insider sales can weigh on sentiment, although the filing alone does not establish the reason for the transaction. SEC filing for the insider transaction

RTX 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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