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

Global Wealth Management Investment Advisory Inc. reduced its stake in RTX Corporation (NYSE:RTX) by 20.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,411 shares of the company’s stock after selling 5,690 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in RTX were worth $4,161,000 at the end of the most recent reporting period.

Other hedge funds and 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 worth approximately $20,970,571,000. State Street Corp lifted its holdings in shares of 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 purchasing 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 shares of 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 purchasing an additional 411,356 shares during the period. Amundi grew its position in RTX by 4.0% in the 2nd quarter. Amundi now owns 7,768,207 shares of the company’s stock valued at $1,473,862,000 after buying an additional 295,964 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in RTX in the 2nd quarter valued at $1,456,256,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at RTX

In other 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 value 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dantaya M. Williams sold 9,071 shares of the firm’s stock in a transaction dated 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 $3,414,781. This trade represents a 34.89% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.10% of the stock is currently owned by insiders.

RTX Stock Up 3.6%

RTX opened at $196.35 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.81. The business has a 50 day simple moving average of $193.15 and a 200-day simple moving average of $195.52. The stock has a market capitalization of $264.96 billion, a P/E ratio of 31.87, a P/E/G ratio of 2.21 and a beta of 0.30. RTX Corporation has a 12 month low of $166.74 and a 12 month high of $226.88.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.48. The firm had revenue of $24.96 billion for the quarter, compared to analyst estimates of $24.11 billion. RTX had a return on equity of 14.89% and a net margin of 8.75%. RTX’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.70 earnings per share. On average, equities analysts anticipate that RTX Corporation will post 7.68 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 20th will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, November 20th. RTX’s payout ratio is presently 47.40%.

Analyst Ratings Changes

Several equities analysts have issued reports on RTX shares. JPMorgan Chase & Co. boosted their price objective on shares of RTX from $215.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Wells Fargo & Company raised their target price on shares of RTX from $200.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Friday, July 24th. Royal Bank Of Canada lowered their target price on shares of RTX from $250.00 to $235.00 and set an “outperform” rating on the stock in a report on Thursday, October 15th. Morgan Stanley reiterated an “overweight” rating and set a $240.00 price target (up from $220.00) on shares of RTX in a research note on Friday, July 24th. Finally, Argus set a $245.00 price target on shares of RTX and gave the stock a “buy” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $231.24.

Key Headlines Impacting RTX

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

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.

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