PNC Financial Services Group Inc. Reduces Position in RTX Corporation $RTX

PNC Financial Services Group Inc. trimmed its holdings in RTX Corporation (NYSE:RTX) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,419,625 shares of the company’s stock after selling 18,542 shares during the quarter. PNC Financial Services Group Inc. owned about 0.18% of RTX worth $353,314,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Nuveen LLC acquired a new position in RTX during the first quarter worth $916,739,000. Goldman Sachs Group Inc. grew its position in RTX by 28.0% in the first quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company’s stock worth $845,784,000 after acquiring an additional 1,394,918 shares during the period. Vanguard Group Inc. raised its position in RTX by 1.1% in the first quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company’s stock valued at $15,873,541,000 after purchasing an additional 1,357,328 shares during the period. 1832 Asset Management L.P. raised its position in RTX by 1,178.2% in the first quarter. 1832 Asset Management L.P. now owns 1,212,353 shares of the company’s stock valued at $160,588,000 after purchasing an additional 1,117,506 shares during the period. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of RTX in the 1st quarter valued at $130,194,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other RTX news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of RTX stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $180.15, for a total transaction of $873,547.35. Following the transaction, the executive vice president owned 59,556 shares of the company’s stock, valued at $10,729,013.40. The trade was a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Shane G. Eddy sold 25,968 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $159.79, for a total value of $4,149,426.72. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.15% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $179.15 on Wednesday. The firm has a market capitalization of $240.20 billion, a P/E ratio of 36.79, a P/E/G ratio of 2.79 and a beta of 0.64. The company has a quick ratio of 0.81, a current ratio of 1.07 and a debt-to-equity ratio of 0.58. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $181.31. The firm’s 50 day moving average is $165.82 and its two-hundred day moving average is $152.37.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 21st. The company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.29. RTX had a net margin of 7.67% and a return on equity of 13.28%. The firm had revenue of $22.48 billion for the quarter, compared to the consensus estimate of $21.26 billion. During the same period last year, the firm posted $1.45 EPS. The company’s revenue was up 11.9% on a year-over-year basis. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. Research analysts forecast that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Friday, November 21st will be given a $0.68 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.5%. RTX’s dividend payout ratio is 55.85%.

Wall Street Analyst Weigh In

RTX has been the topic of several research analyst reports. Sanford C. Bernstein boosted their price objective on shares of RTX from $157.00 to $181.00 and gave the company a “market perform” rating in a report on Monday, October 6th. UBS Group increased their target price on shares of RTX from $197.00 to $202.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $170.00 price target (up from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. increased their price objective on shares of RTX from $145.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Finally, Morgan Stanley set a $215.00 target price on RTX and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, RTX has an average rating of “Moderate Buy” and an average target price of $178.47.

RTX Profile

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.