RTX Corporation $RTX Stock Acquired by Everest Financial Group LLC

Everest Financial Group LLC lifted its holdings in shares of RTX Corporation (NYSE:RTX) by 238.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 14,539 shares of the company’s stock after buying an additional 10,243 shares during the quarter. Everest Financial Group LLC’s holdings in RTX were worth $2,699,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in RTX. BlackRock Inc. purchased a new stake in RTX during the 2nd quarter valued at approximately $20,970,571,000. State Street Corp grew its stake in shares of RTX by 3.1% in the 2nd quarter. State Street Corp now owns 95,417,318 shares of the company’s stock valued at $18,103,528,000 after purchasing an additional 2,828,056 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of RTX by 5.0% in the 2nd 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 purchasing an additional 411,356 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of RTX by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,649,112 shares of the company’s stock valued at $1,475,296,000 after purchasing an additional 95,726 shares during the last quarter. Finally, Amundi increased its holdings in shares of 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 purchasing an additional 295,964 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Trending Headlines about RTX

Investors following RTX have been watching these headlines:

• Positive Sentiment: RTX drew fresh attention for a DeepStrike test and a DARPA win, highlighting its defense-technology work. The articles supplied do not provide details on the award’s size or expected financial contribution. RTX DeepStrike Test And DARPA Win Put Fresh Focus On Defense Tech
• Positive Sentiment: Zacks Research upgraded RTX from “hold” to “strong buy,” while other Zacks coverage cited improving earnings estimates, defense-technology progress and aerospace services as supports for its outlook. Zacks Research rating update RTX Outperforms Industry in the Past Year: Should You Buy?
• Positive Sentiment: Sector commentary included RTX among aerospace and defense companies that could benefit from rising defense spending, strong order backlogs and improved earnings prospects. Separate coverage also noted that RTX can earn from its installed engine base and related services, beyond new aircraft sales. Buy 4 Aerospace Defense Behemoths to Enhance Your Portfolio Returns How These 5 Aerospace Stocks Earn Money Beyond New Plane Sales

RTX Price Performance

Shares of NYSE:RTX opened at $198.39 on Friday. RTX Corporation has a 52 week low of $166.74 and a 52 week high of $226.88. The company has a 50-day moving average price of $192.88 and a 200 day moving average price of $195.59. The company has a market cap of $267.71 billion, a P/E ratio of 32.21, a PEG ratio of 2.23 and a beta of 0.30. The company has a quick ratio of 0.81, a current ratio of 1.05 and a debt-to-equity ratio of 0.44.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 20th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.48. The company 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 firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.70 EPS. Research analysts predict that RTX Corporation will post 7.73 earnings per share for the current year.

RTX Announces Dividend

The firm also recently declared 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. The ex-dividend date is Friday, November 20th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.5%. RTX’s payout ratio is 47.40%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. TD Cowen cut their price target on RTX from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, October 9th. BNP Paribas Exane lifted their price objective on shares of RTX from $220.00 to $265.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Weiss Ratings lowered shares of RTX from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday. The Goldman Sachs Group boosted their price objective on shares of RTX from $195.00 to $206.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, DA Davidson upped their price objective on shares of RTX from $192.00 to $219.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, RTX has an average rating of “Moderate Buy” and an average target price of $231.24.

Insider Buying and Selling

In related news, EVP Ramsaran Maharajh sold 13,655 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $223.92, for a total transaction of $3,057,627.60. Following the transaction, the executive vice president owned 13,184 shares of the company’s stock, valued at $2,952,161.28. This represents a 50.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Dantaya Williams sold 9,071 shares of the stock in a transaction on Friday, October 30th. The stock was sold at an average price of $201.70, for a total value 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. The SEC filing for this sale provides additional information. 0.10% of the stock is owned by insiders.

About RTX

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.