Rakuten Investment Management Inc. Acquires New Position in RTX Corporation $RTX

Rakuten Investment Management Inc. purchased a new stake in RTX Corporation (NYSE:RTX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 241,837 shares of the company’s stock, valued at approximately $45,209,000.

Several other hedge funds and other institutional investors have also bought and sold shares of RTX. Provenance Wealth Advisors LLC lifted its holdings in shares of RTX by 818.3% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 23,380 shares of the company’s stock valued at $4,340,000 after purchasing an additional 20,834 shares in the last quarter. One Day In July LLC increased its stake in RTX by 13.6% in the 3rd quarter. One Day In July LLC now owns 3,668 shares of the company’s stock valued at $681,000 after buying an additional 439 shares during the last quarter. Associated Banc Corp acquired a new stake in shares of RTX in the third quarter valued at about $27,933,000. Watershed Private Wealth LLC increased its position in shares of RTX by 15.9% during the 3rd quarter. Watershed Private Wealth LLC now owns 1,709 shares of the company’s stock worth $317,000 after purchasing an additional 234 shares during the last quarter. Finally, Integrity Alliance LLC. raised its position in RTX by 2.6% during the third quarter. Integrity Alliance LLC. now owns 44,751 shares of the company’s stock worth $8,308,000 after acquiring an additional 1,118 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other news, EVP Ramsaran Maharajh sold 13,655 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president owned 13,184 shares in the company, valued at approximately $2,952,161.28. The trade was a 50.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dantaya M. Williams sold 9,071 shares of the business’s stock in a transaction on 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 transaction, the executive vice president owned 16,930 shares in the company, valued at approximately $3,414,781. The trade was a 34.89% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.10% of the stock is owned by company insiders.

RTX Price Performance

RTX stock opened at $203.70 on Wednesday. The stock has a market cap of $274.88 billion, a price-to-earnings ratio of 33.07, a P/E/G ratio of 2.26 and a beta of 0.30. 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 company has a 50 day simple moving average of $194.55 and a 200 day simple moving average of $195.62. RTX Corporation has a 1 year low of $166.74 and a 1 year high of $226.88.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 20th. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.48. RTX had a net margin of 8.75% and a return on equity of 14.89%. The firm had revenue of $24.96 billion for the quarter, compared to analyst estimates of $24.11 billion. During the same quarter last year, the business posted $1.70 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. Research analysts anticipate that RTX Corporation will post 7.67 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 20th will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, November 20th. RTX’s dividend payout ratio is 47.40%.

Analyst Upgrades and Downgrades

RTX has been the topic of several research analyst reports. Susquehanna upped their price objective on RTX from $235.00 to $245.00 and gave the company a “positive” rating in a research note on Friday, July 24th. DA Davidson increased their target price on RTX from $192.00 to $219.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Royal Bank Of Canada dropped their price target on RTX from $250.00 to $235.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. Wells Fargo & Company increased their target price on shares of RTX from $200.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Friday, July 24th. Finally, BNP Paribas Exane raised their price target on RTX from $220.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, RTX has an average rating of “Moderate Buy” and a consensus price target of $231.24.

RTX News Roundup

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.