RTX Corporation $RTX Shares Sold by KBC Group NV

KBC Group NV lessened its position in shares of RTX Corporation (NYSE:RTX) by 21.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 125,968 shares of the company’s stock after selling 34,382 shares during the quarter. KBC Group NV’s holdings in RTX were worth $24,300,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RTX. Navalign LLC purchased a new position in shares of RTX during the fourth quarter worth approximately $25,000. Commonwealth Retirement Investments LLC purchased a new stake in RTX in the 4th quarter valued at $26,000. Core Wealth Advisors LLC purchased a new stake in RTX in the 4th quarter valued at $31,000. 1 North Wealth Services LLC boosted its stake in RTX by 456.7% during the 4th quarter. 1 North Wealth Services LLC now owns 167 shares of the company’s stock worth $31,000 after purchasing an additional 137 shares during the period. Finally, Evergreen Advisors LLC purchased a new position in RTX during the 1st quarter worth $31,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

RTX has been the topic of a number of recent research reports. Citigroup restated a “buy” rating on shares of RTX in a research note on Wednesday, June 17th. Erste Group Bank lowered RTX from a “buy” rating to a “hold” rating in a report on Monday, April 27th. Dbs Bank upgraded RTX from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, June 10th. UBS Group reduced their price objective on RTX from $209.00 to $199.00 and set a “neutral” rating for the company in a research note on Wednesday, April 22nd. Finally, Wall Street Zen cut RTX from a “strong-buy” rating to a “buy” rating in a research report on Sunday, April 26th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, RTX has an average rating of “Moderate Buy” and an average price target of $211.38.

RTX News Summary

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Raytheon UK, part of RTX, won a £2 billion, 15-year British Army collective training contract, adding a large long-term defense revenue stream. RTX (RTX) Could Be 10% Undervalued After The British Army Training Contract
• Positive Sentiment: RTX’s Raytheon unit received a $1.8 billion contract extension for SPY-6 radar production and sustainment for the U.S. Navy, reinforcing defense demand and backlog strength. RTX’s Raytheon awarded $1.8 billion hardware production and sustainment contract for SPY-6 family of radars
• Positive Sentiment: Pratt & Whitney Canada announced a C$275 million investment in its Longueuil facility, with government support, which should help expand manufacturing capacity and long-term production efficiency. RTX’s Pratt & Whitney Canada to invest $275 million CAD in Longueuil facility, with support from the Canadian and Quebec governments
• Positive Sentiment: Pratt & Whitney GTF engines were selected for 15 additional Tigerair Taiwan A321neo aircraft, and BOC Aviation confirmed an order for up to 220 GTF engines, both of which add to future engine sales and services revenue. RTX’s Pratt & Whitney GTF™ engines to power 15 additional Tigerair Taiwan A320neo family aircraft BOC Aviation confirms order for up to 220 engines from RTX’s Pratt & Whitney
• Positive Sentiment: British Airways selected RTX’s Pratt & Whitney GTF engines for up to 63 A320neo aircraft, with a long-term maintenance agreement that should support recurring aftermarket revenue. British Airways selects RTX’s Pratt & Whitney GTF™ engines to power up to 63 Airbus A320neo aircraft
• Positive Sentiment: RTX also announced a nacelle MRO joint venture in Abu Dhabi with Etihad Engineering, expanding its maintenance footprint in a growing market. RTX’s Collins Aerospace and Etihad Engineering create nacelle MRO joint venture
• Neutral Sentiment: RTX heads into upcoming Q2 earnings with analysts expecting revenue and EPS growth, supported by a strong backlog and continued aerospace/defense demand. Should You Buy, Hold or Sell RTX Stock Ahead of Q2 Earnings?

RTX Stock Down 0.4%

Shares of RTX stock opened at $193.63 on Wednesday. RTX Corporation has a one year low of $143.56 and a one year high of $214.50. The company has a market cap of $260.76 billion, a P/E ratio of 36.33, a PEG ratio of 2.66 and a beta of 0.30. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.78 and a current ratio of 1.02. The firm has a fifty day moving average of $185.24 and a two-hundred day moving average of $191.81.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 21st. The company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.26. RTX had a net margin of 8.03% and a return on equity of 13.50%. The business had revenue of $22.08 billion for the quarter, compared to the consensus estimate of $21.38 billion. During the same quarter in the previous year, the firm earned $1.47 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, analysts forecast that RTX Corporation will post 6.92 earnings per share for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Friday, August 14th will be given a $0.73 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.92 dividend on an annualized basis and a yield of 1.5%. RTX’s dividend payout ratio (DPR) is presently 54.78%.

RTX Company 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.