2,536 RTX Corporation $RTX Shares Sold by Bfsg LLC

Bfsg LLC lowered its stake in RTX Corporation (NYSE:RTX) by 2.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 85,194 shares of the company’s stock after selling 2,536 shares during the period. RTX accounts for approximately 1.4% of Bfsg LLC’s holdings, making the stock its 13th biggest holding. Bfsg LLC’s holdings in RTX were worth $15,816,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RTX. BlackRock Inc. acquired a new stake in RTX during the second quarter valued at approximately $20,970,571,000. State Street Corp boosted its holdings in shares of RTX by 3.1% during the 2nd quarter. State Street Corp now owns 95,417,318 shares of the company’s stock worth $18,103,528,000 after buying an additional 2,828,056 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in 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 acquiring an additional 411,356 shares during the period. Dimensional Fund Advisors LP lifted its position in RTX by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 7,649,112 shares of the company’s stock worth $1,475,296,000 after purchasing an additional 95,726 shares during the period. Finally, Amundi lifted its holdings in RTX by 4.0% during the 2nd 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 last quarter. Institutional investors own 86.50% of the company’s stock.

Key Headlines Impacting RTX

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Raytheon won a phase-one DARPA contract to develop all-optical signal processing intended to help military operators detect and respond to threats faster. It adds to RTX’s technology pipeline, although the initial award is an early-stage development contract and no contract value was reported. Article: RTX’s Raytheon to develop new optical signal processing capability
• Positive Sentiment: An InvestorPlace commentary pointed to potential demand for Patriot systems, radars and other air-defense equipment as countries expand defenses. RTX’s large backlog and investments to increase production capacity support the opportunity, but delivery and cash-generation execution remain important. Article: America’s Military Rebuild Starts With a Manufacturing Problem
• Negative Sentiment: Political shifts following the midterm elections are creating a headwind for defense shares. Coverage said the prospect of a “blue wave” is boosting the broader market but dragging down defense stocks, offering a likely explanation for RTX’s weakness. Article: RTX and Other Defense Stocks Have a Midterm Headache
• Negative Sentiment: EVP Dantaya Williams sold 9,071 RTX shares, reducing her direct holdings by about 35%. The sale may weigh on sentiment, though the filing does not state her reason for selling. SEC filing for the insider transaction

RTX Price Performance

Shares of NYSE RTX opened at $198.28 on Thursday. The business has a fifty day moving average price of $194.31 and a two-hundred day moving average price of $195.61. The stock has a market capitalization of $267.56 billion, a PE ratio of 32.19, a P/E/G ratio of 2.27 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. RTX Corporation has a fifty-two week low of $166.74 and a fifty-two week high of $226.88.

RTX (NYSE:RTX) last posted its quarterly 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. RTX had a net margin of 8.75% and a return on equity of 14.89%. The business 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 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities analysts predict that RTX Corporation will post 7.68 earnings per share for the current fiscal year.

RTX Announces Dividend

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

Insider Activity

In other news, EVP Dantaya Williams sold 9,071 shares of RTX stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $201.70, for a total transaction of $1,829,620.70. Following the sale, the executive vice president directly owned 16,930 shares of the company’s stock, valued at approximately $3,414,781. This trade represents a 34.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ramsaran Maharajh sold 13,655 shares of RTX stock in a transaction that occurred 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 sale, the executive vice president owned 13,184 shares in the company, valued at approximately $2,952,161.28. This represents a 50.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wells Fargo & Company upped their price objective on RTX from $200.00 to $230.00 and gave the company an “equal weight” rating in a report on Friday, July 24th. Deutsche Bank Aktiengesellschaft lowered RTX from a “buy” rating to a “hold” rating and set a $208.00 target price for the company. in a research report on Tuesday, October 13th. DA Davidson upped their price target on RTX from $192.00 to $219.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. TD Cowen cut their price target on shares of RTX from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, October 9th. Finally, The Goldman Sachs Group upped their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $231.24.

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.