Laurel Wealth Advisors LLC Acquires 3,575,069 Shares of RTX Corporation $RTX

Laurel Wealth Advisors LLC raised its position in shares of RTX Corporation (NYSE:RTX) by 14,974.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,598,943 shares of the company’s stock after acquiring an additional 3,575,069 shares during the period. Laurel Wealth Advisors LLC owned approximately 0.27% of RTX worth $525,518,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PFS Partners LLC grew its position in RTX by 101.1% in the 2nd quarter. PFS Partners LLC now owns 177 shares of the company’s stock valued at $26,000 after acquiring an additional 89 shares during the last quarter. LFA Lugano Financial Advisors SA purchased a new stake in shares of RTX during the second quarter valued at $29,000. Access Investment Management LLC bought a new position in shares of RTX in the second quarter worth about $31,000. BOK Financial Private Wealth Inc. increased its stake in RTX by 45.3% in the 2nd quarter. BOK Financial Private Wealth Inc. now owns 250 shares of the company’s stock worth $37,000 after buying an additional 78 shares during the period. Finally, Summit Securities Group LLC bought a new stake in RTX during the 1st quarter valued at about $40,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of RTX in a research note on Friday, October 31st. Bank of America upped their price objective on shares of RTX from $175.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Morgan Stanley set a $215.00 target price on shares of RTX and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. BNP Paribas raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, November 18th. Finally, Barclays lifted their price target on RTX from $130.00 to $153.00 and gave the company an “equal weight” rating in a report on Tuesday, July 29th. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, RTX has an average rating of “Moderate Buy” and a consensus price target of $180.44.

RTX Stock Performance

Shares of RTX opened at $173.14 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. The firm has a market cap of $232.15 billion, a PE ratio of 35.55, a P/E/G ratio of 2.79 and a beta of 0.64. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $181.31. The stock has a fifty day moving average price of $169.03 and a 200-day moving average price of $155.32.

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

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Friday, November 21st will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, November 21st. RTX’s dividend payout ratio is 55.85%.

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.