Summit Wealth Group LLC Co. Cuts Stake in RTX Corporation $RTX

Key Points

• Summit Wealth Group sharply reduced its RTX stake by 93.9% in the fourth quarter, selling 19,487 shares and ending with 1,259 shares worth about $231,000.
• RTX reported strong quarterly results, with earnings of $1.78 per share beating estimates and revenue of $22.08 billion topping forecasts; it also raised its full-year guidance to $6.60-$6.80 EPS.
• The company increased its quarterly dividend to $0.73 per share from $0.68, while analysts currently maintain a Moderate Buy consensus and average price target of $210.75.

Summit Wealth Group LLC Co. reduced its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 93.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,259 shares of the company's stock after selling 19,487 shares during the period. Summit Wealth Group LLC Co.'s holdings in RTX were worth $231,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of RTX. Brighton Jones LLC raised its holdings in 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 raised its holdings in RTX by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock valued at $564,000 after buying an additional 159 shares during the period. United Bank raised its holdings in RTX by 68.0% in the second quarter. United Bank now owns 10,202 shares of the company's stock valued at $1,490,000 after buying an additional 4,131 shares during the period. Schnieders Capital Management LLC. raised its holdings in RTX by 3.1% in the second quarter. Schnieders Capital Management LLC. now owns 20,900 shares of the company's stock valued at $3,052,000 after buying an additional 623 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in RTX in the second quarter valued at approximately $5,157,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Neil G. Mitchill, Jr. sold 35,755 shares of RTX stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $205.56, for a total transaction of $7,349,797.80. Following the sale, the executive vice president owned 59,556 shares in the company, valued at $12,242,331.36. This trade represents a 37.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 12,713 shares of the firm's stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $202.83, for a total transaction of $2,578,577.79. Following the sale, the executive vice president directly owned 16,749 shares of the company's stock, valued at $3,397,199.67. The trade was a 43.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 63,592 shares of company stock worth $13,023,502 over the last 90 days. Company insiders own 0.10% of the company's stock.

RTX Trading Down 1.4%

RTX opened at $175.58 on Friday. The firm has a market capitalization of $236.44 billion, a P/E ratio of 32.94, a P/E/G ratio of 2.52 and a beta of 0.31. The firm's 50 day moving average is $192.55 and its 200-day moving average is $188.86. RTX Corporation has a 52-week low of $130.90 and a 52-week high of $214.50. The company has a quick ratio of 0.78, a current ratio of 1.02 and a debt-to-equity ratio of 0.48.

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

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Friday, May 22nd will be paid 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 1.7%. The ex-dividend date is Friday, May 22nd. RTX's payout ratio is 51.03%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RTX. Melius Research upgraded shares of RTX from a "hold" rating to a "buy" rating in a report on Thursday, April 2nd. Robert W. Baird set a $225.00 price target on shares of RTX in a report on Wednesday, January 28th. UBS Group cut their price target on shares of RTX from $209.00 to $199.00 and set a "neutral" rating on the stock in a report on Wednesday, April 22nd. Wolfe Research restated an "outperform" rating on shares of RTX in a report on Wednesday, February 4th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of RTX in a research note on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $210.75.

RTX News Roundup

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Raytheon received an order for 120 SharpSight radars from Blue Raven, the largest order yet for the multi-domain surveillance radar, which supports the company’s defense backlog and sales outlook. RTX Corporation (RTX) Receives Order For SharpSight radars from Blue Raven
• Positive Sentiment: RTX won a SeaRAM ship self-defense contract for Australian frigates, adding another international defense program win and reinforcing demand for its naval defense systems. RTX Wins SeaRAM Ship Self-Defense Contract For Australian Frigates
• Positive Sentiment: Collins Aerospace, an RTX business, is investing $26.5 million to expand its Florida facility, signaling additional capacity for radar work tied to both commercial aviation and defense programs. RTX’s Collins Aerospace Invests $26.5M In Florida Expansion
• Neutral Sentiment: Zacks highlighted RTX as one of its most-searched stocks, which suggests elevated investor interest but does not by itself change fundamentals. Investors Heavily Search RTX Corporation (RTX): Here is What You Need to Know

RTX 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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