Smith Salley Wealth Management Raises Stake in RTX Corporation $RTX

Smith Salley Wealth Management lifted its stake in RTX Corporation (NYSE:RTX) by 3.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 217,340 shares of the company’s stock after acquiring an additional 7,625 shares during the period. RTX comprises about 1.8% of Smith Salley Wealth Management’s holdings, making the stock its 11th biggest position. Smith Salley Wealth Management’s holdings in RTX were worth $31,736,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. City Holding Co. grew its holdings in RTX by 1.0% in the second quarter. City Holding Co. now owns 14,175 shares of the company’s stock valued at $2,070,000 after purchasing an additional 134 shares during the last quarter. Grandview Asset Management LLC increased its stake in RTX by 27.6% during the second quarter. Grandview Asset Management LLC now owns 5,222 shares of the company’s stock valued at $762,000 after acquiring an additional 1,128 shares during the period. Patton Albertson Miller Group LLC lifted its holdings in RTX by 26.7% during the 2nd quarter. Patton Albertson Miller Group LLC now owns 2,564 shares of the company’s stock worth $374,000 after buying an additional 541 shares in the last quarter. WD Rutherford LLC acquired a new stake in RTX during the second quarter worth approximately $200,000. Finally, Stockman Wealth Management Inc. lifted its holdings in RTX by 13.5% in the second quarter. Stockman Wealth Management Inc. now owns 2,288 shares of the company’s stock valued at $334,000 after buying an additional 272 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Price Performance

Shares of NYSE:RTX opened at $163.50 on Friday. The stock has a market cap of $218.85 billion, a price-to-earnings ratio of 35.93, a PEG ratio of 3.01 and a beta of 0.67. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $165.35. The stock’s 50 day moving average price is $156.93 and its 200 day moving average price is $142.75. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. RTX had a net margin of 7.35% and a return on equity of 12.89%. The firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $20.68 billion. During the same period last year, the firm earned $1.41 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Equities research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RTX has been the topic of several recent analyst reports. Susquehanna raised their price target on shares of RTX from $160.00 to $175.00 and gave the stock a “positive” rating in a research note on Wednesday, July 23rd. Wall Street Zen lowered RTX from a “buy” rating to a “hold” rating in a report on Saturday, June 21st. Sanford C. Bernstein upped their price objective on RTX from $154.00 to $157.00 and gave the company a “market perform” rating in a report on Wednesday, September 10th. JPMorgan Chase & Co. lifted their price target on RTX from $145.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $170.00 price objective (up previously from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $158.87.

Insider Buying and Selling

In other RTX news, insider Philip J. Jasper sold 12,847 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the transaction, the insider owned 17,684 shares in the company, valued at $2,790,888.88. The trade was a 42.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Kevin G. Dasilva sold 8,704 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total value of $1,359,564.80. Following the transaction, the vice president owned 30,004 shares in the company, valued at $4,686,624.80. This trade represents a 22.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,635 shares of company stock valued at $8,947,010 in the last 90 days. 0.15% of the stock is owned by insiders.

About RTX

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.