Rice Partnership LLC Trims Stock Position in RTX Corporation $RTX

Rice Partnership LLC trimmed its holdings in RTX Corporation (NYSE:RTX) by 17.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 66,168 shares of the company’s stock after selling 14,011 shares during the period. RTX accounts for approximately 1.7% of Rice Partnership LLC’s holdings, making the stock its 17th largest holding. Rice Partnership LLC’s holdings in RTX were worth $12,764,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RTX. Norges Bank purchased a new position in shares of RTX during the 4th quarter worth about $3,167,626,000. Auto Owners Insurance Co increased its position in RTX by 24,730.9% during the fourth quarter. Auto Owners Insurance Co now owns 10,102,956 shares of the company’s stock worth $1,852,882,000 after purchasing an additional 10,062,269 shares during the last quarter. Vanguard Group Inc. increased its position in RTX by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 124,986,171 shares of the company’s stock worth $22,922,464,000 after purchasing an additional 2,210,950 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in RTX by 1,545.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,723,710 shares of the company’s stock worth $316,128,000 after purchasing an additional 1,618,933 shares during the period. Finally, Amundi raised its stake in RTX by 49.1% during the fourth quarter. Amundi now owns 4,402,120 shares of the company’s stock worth $807,349,000 after purchasing an additional 1,450,596 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Up 0.6%

NYSE RTX opened at $194.64 on Tuesday. The company’s fifty day simple moving average is $184.95 and its 200-day simple moving average is $191.74. The stock has a market cap of $262.12 billion, a P/E ratio of 36.52, a PEG ratio of 2.65 and a beta of 0.30. RTX Corporation has a 52 week low of $143.56 and a 52 week high of $214.50. The company has a current ratio of 1.02, a quick ratio of 0.78 and a debt-to-equity ratio of 0.48.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 21st. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.26. The firm had revenue of $22.08 billion for the quarter, compared to the consensus estimate of $21.38 billion. RTX had a net margin of 8.03% and a return on equity of 13.50%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.47 EPS. Equities research analysts predict that RTX Corporation will post 6.92 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Friday, August 14th will be given 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 of this dividend is Friday, August 14th. RTX’s payout ratio is presently 54.78%.

Key Headlines Impacting RTX

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Pratt & Whitney won a nine-year, $1 billion sustainment contract to overhaul more than 750 PT6A-68 engines for the U.S. JPATS T-6 trainer fleet, adding to RTX’s long-term defense revenue visibility. Article Title
• Positive Sentiment: British Airways selected RTX’s Pratt & Whitney GTF engines to power up to 63 Airbus A320neo aircraft, including a 12-year maintenance agreement, boosting the outlook for RTX’s commercial engines and services backlog. Article Title
• Positive Sentiment: Jackson Square Aviation also chose Pratt & Whitney GTF engines for an undisclosed number of Airbus A320neo jets, reinforcing demand for RTX’s geared-turbofan platform at the Farnborough Airshow. Article Title
• Positive Sentiment: Pratt & Whitney completed successful testing of its 3D-printed TJ150 engine, highlighting manufacturing innovation and potential efficiency gains. Article Title
• Neutral Sentiment: Analysts are reviewing RTX’s Q2 metric projections ahead of earnings, which keeps attention on whether the company can match or exceed expectations. Article Title
• Neutral Sentiment: RTX was mentioned as one of several drone-tech names to watch as adoption rises, but the piece is more sector-focused than a direct company-specific catalyst. Article Title
• Positive Sentiment: RTX also picked up additional attention from Boeing/Airbus Farnborough deal activity, which underscores a healthy commercial aerospace backdrop for its engine business. Article Title

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. UBS Group lowered their price objective on shares of RTX from $209.00 to $199.00 and set a “neutral” rating for the company in a research note on Wednesday, April 22nd. Morgan Stanley reduced their target price on RTX from $235.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, April 22nd. Citigroup restated a “buy” rating on shares of RTX in a research note on Wednesday, June 17th. Jefferies Financial Group reaffirmed a “buy” rating on shares of RTX in a research note on Wednesday, July 8th. Finally, Wall Street Zen downgraded shares of RTX from a “strong-buy” rating to a “buy” rating in a research report on Sunday, April 26th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $211.38.

About RTX

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.