RTX Corporation $RTX Stock: King Luther Capital Management Corp Raises Stake

King Luther Capital Management Corp raised its position in shares of RTX Corporation (NYSE:RTX) by 12.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 668,112 shares of the company’s stock after purchasing an additional 72,294 shares during the period. King Luther Capital Management Corp’s holdings in RTX were worth $124,035,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Banyan Capital Management Inc. acquired a new position in shares of RTX during the third quarter valued at $391,000. CFM Wealth Partners LLC bought a new stake in shares of RTX during the third quarter valued at about $825,000. Bingham Private Wealth LLC lifted its holdings in RTX by 3.7% in the third quarter. Bingham Private Wealth LLC now owns 4,330 shares of the company’s stock worth $804,000 after purchasing an additional 155 shares during the period. Smith Partners Wealth Management LLC lifted its holdings in RTX by 8.6% in the third quarter. Smith Partners Wealth Management LLC now owns 2,638 shares of the company’s stock worth $490,000 after purchasing an additional 208 shares during the period. Finally, Maryland State Retirement & Pension System grew its position in RTX by 13.6% in the 3rd quarter. Maryland State Retirement & Pension System now owns 82,678 shares of the company’s stock valued at $15,349,000 after buying an additional 9,899 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group raised their target price on shares of RTX from $209.00 to $212.00 and gave the company a “neutral” rating in a research note on Wednesday, October 21st. TD Cowen decreased their price objective on shares of RTX from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday, October 9th. Weiss Ratings lowered shares of RTX from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday. Argus set a $245.00 target price on RTX and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Barclays upped their target price on RTX from $223.00 to $235.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.24.

RTX Price Performance

Shares of RTX stock opened at $201.37 on Thursday. The company has a current ratio of 1.05, a quick ratio of 0.81 and a debt-to-equity ratio of 0.44. The company’s 50-day moving average price is $192.93 and its two-hundred day moving average price is $195.57. RTX Corporation has a 52 week low of $166.74 and a 52 week high of $226.88. The stock has a market cap of $271.74 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 2.22 and a beta of 0.30.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 20th. The company reported $2.26 earnings per share for the quarter, beating 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 company had revenue of $24.96 billion during the quarter, compared to the consensus estimate of $24.11 billion. During the same period in the prior year, the company earned $1.70 EPS. RTX’s revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts anticipate that RTX Corporation will post 7.73 EPS for the current fiscal year.

RTX Dividend Announcement

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

Key Headlines Impacting RTX

Here are a few of the latest headlines about RTX:

• Positive Sentiment: Analyst upgrade: Zacks Research raised RTX from “hold” to “strong buy.” Separate commentary points to rising earnings estimates and growth prospects in defense technology and aerospace services. Zacks analysis
• Positive Sentiment: Defense demand: RTX’s Raytheon completed a third flight test of a U.S. Army training rocket. Separately, an RTX plan could raise Tomahawk and AMRAAM missile production substantially by 2030, pointing to potential program growth. Rocket flight test report Missile production report
• Neutral Sentiment: Valuation remains a consideration: RTX has substantially outperformed over the past three years, prompting questions about whether its share price is justified by expected cash flows. The positive growth outlook is balanced by a premium valuation.

Insider Activity at RTX

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

RTX Profile

RTX Corporation is an aerospace and defense company whose businesses include Collins Aerospace, Pratt & Whitney and Raytheon. The company serves commercial aviation, military and government customers around the world. Collins Aerospace develops aircraft systems and components, including avionics, communications, flight controls and cabin equipment. Pratt & Whitney designs and manufactures aircraft engines and provides related maintenance services. Raytheon develops defense systems and technologies, including air and missile defense, sensors and precision weapons.