MMA Asset Management LLC Makes New Investment in RTX Corporation $RTX

MMA Asset Management LLC purchased a new position in RTX Corporation (NYSE:RTX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,022 shares of the company’s stock, valued at approximately $561,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. QTR Family Wealth LLC raised its position in shares of RTX by 3.5% during the 3rd quarter. QTR Family Wealth LLC now owns 3,401 shares of the company’s stock worth $631,000 after buying an additional 114 shares in the last quarter. Capstone Wealth Management LLC lifted its stake in shares of RTX by 41.0% in the 3rd quarter. Capstone Wealth Management LLC now owns 1,686 shares of the company’s stock worth $313,000 after acquiring an additional 490 shares during the period. Quest 10 Wealth Builders Inc. lifted its stake in shares of RTX by 92.1% in the 3rd quarter. Quest 10 Wealth Builders Inc. now owns 290 shares of the company’s stock worth $54,000 after acquiring an additional 139 shares during the period. Wealth Dimensions Group Ltd. lifted its stake in shares of RTX by 23.0% in the 3rd quarter. Wealth Dimensions Group Ltd. now owns 2,676 shares of the company’s stock worth $497,000 after acquiring an additional 501 shares during the period. Finally, Kestra Private Wealth Services LLC boosted its holdings in shares of RTX by 5.2% in the third quarter. Kestra Private Wealth Services LLC now owns 220,219 shares of the company’s stock valued at $40,884,000 after acquiring an additional 10,971 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In other RTX news, EVP Dantaya Williams sold 9,071 shares of the company’s stock in a transaction on Friday, October 30th. The stock was sold at an average price of $201.70, for a total value of $1,829,620.70. Following the transaction, the executive vice president owned 16,930 shares of the company’s stock, valued at approximately $3,414,781. This represents a 34.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ramsaran Maharajh sold 13,655 shares of the stock in a transaction 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 sale, the executive vice president owned 13,184 shares of the company’s stock, valued at $2,952,161.28. This trade represents a 50.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on RTX shares. JPMorgan Chase & Co. raised 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. Sanford C. Bernstein cut their target price on RTX from $223.00 to $214.00 and set a “market perform” rating for the company in a research report on Thursday, October 15th. BNP Paribas Exane upped their target price on RTX from $220.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Jefferies Financial Group set a $250.00 price target on RTX and gave the company a “buy” rating in a research note on Sunday, July 26th. Finally, Argus set a $245.00 price target on RTX and gave the company a “buy” rating in a research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $231.24.

RTX Stock Performance

NYSE:RTX opened at $191.97 on Friday. The company has a 50-day moving average of $193.91 and a 200-day moving average of $195.56. The firm has a market cap of $259.05 billion, a price-to-earnings ratio of 31.16, a price-to-earnings-growth ratio of 2.21 and a beta of 0.30. The company has a current ratio of 1.05, a quick ratio of 0.81 and a debt-to-equity ratio of 0.44. RTX Corporation has a twelve month low of $166.74 and a twelve month high of $226.88.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 20th. The company reported $2.26 EPS for the quarter, topping 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 business had revenue of $24.96 billion for the quarter, compared to the consensus estimate of $24.11 billion. During the same period in the previous year, the firm earned $1.70 EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Analysts forecast that RTX Corporation will post 7.68 earnings per share for the current fiscal year.

RTX Dividend Announcement

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. The ex-dividend date is Friday, November 20th. This represents a $2.92 annualized dividend and a yield of 1.5%. RTX’s payout ratio is 47.40%.

Key Stories Impacting RTX

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Raytheon won a phase-one DARPA contract to develop optical signal processing technology aimed at helping military operators detect and respond to threats faster. It adds to RTX’s defense technology pipeline, though the initial award is an early-stage contract. Article: RTX’s Raytheon wins DARPA contract
• Positive Sentiment: A commentary pointed to longer-term demand for RTX’s Patriot systems, radars, and interceptors, alongside manufacturing investments to expand capacity. It cited a $340 billion backlog and raised full-year free-cash-flow guidance of $9 billion to $9.2 billion; these support the outlook but depend on execution and are not new orders announced today. Article: America’s Military Rebuild Starts With a Manufacturing Problem
• Negative Sentiment: The election outcome has put a major defense-spending proposal in doubt, raising concern that budget delays or reduced spending could constrain future contract growth for defense contractors, including RTX. Article: Defense Stocks Sank as Democrats Took Congress

RTX Company 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.