RTX Corporation $RTX Holdings Lowered by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. reduced its holdings in shares of RTX Corporation (NYSE:RTX) by 12.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 167,271 shares of the company’s stock after selling 24,180 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in RTX were worth $31,093,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. bought a new position in shares of RTX during the second quarter worth about $20,970,571,000. State Street Corp grew its stake in RTX by 3.1% in the second quarter. State Street Corp now owns 95,417,318 shares of the company’s stock worth $18,103,528,000 after purchasing an additional 2,828,056 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in RTX by 5.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,693,939 shares of the company’s stock valued at $1,649,501,000 after buying an additional 411,356 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in RTX by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 7,649,112 shares of the company’s stock valued at $1,475,296,000 after buying an additional 95,726 shares during the last quarter. Finally, Amundi raised its stake in RTX by 4.0% during the second quarter. Amundi now owns 7,768,207 shares of the company’s stock valued at $1,473,862,000 after buying an additional 295,964 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Price Performance

RTX opened at $198.61 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.05 and a debt-to-equity ratio of 0.44. The company’s 50-day moving average price is $192.81 and its 200 day moving average price is $195.57. RTX Corporation has a fifty-two week low of $166.74 and a fifty-two week high of $226.88. The firm has a market cap of $268.02 billion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 2.19 and a beta of 0.30.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 20th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.48. The company had revenue of $24.96 billion during the quarter, compared to the consensus estimate of $24.11 billion. RTX had a return on equity of 14.89% and a net margin of 8.75%. RTX’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.70 earnings per share. As a group, sell-side analysts expect that RTX Corporation will post 7.73 earnings per share for the current year.

RTX Dividend Announcement

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

Insider Buying and Selling

In other RTX news, EVP Dantaya M. Williams sold 9,071 shares of the 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 sale, the executive vice president directly owned 16,930 shares of the company’s stock, valued at $3,414,781. This trade represents a 34.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ramsaran Maharajh sold 13,655 shares of the firm’s 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 completion of the sale, the executive vice president owned 13,184 shares in the company, valued at $2,952,161.28. The trade was a 50.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.10% of the company’s stock.

Key Stories Impacting RTX

Investors following RTX have been watching these stories:

• Positive Sentiment: S&P Global Ratings upgraded RTX’s issuer and unsecured debt ratings to A- from BBB+, citing strong aerospace and defense demand and continued debt reduction. The stable outlook reflects expectations that leverage and cash-flow metrics will remain strong. S&P Global Ratings upgrades RTX
• Positive Sentiment: RTX’s DeepStrike test and a DARPA win are drawing attention to its defense technology business, potentially reinforcing investor interest in its growth prospects. RTX DeepStrike test and DARPA win
• Neutral Sentiment: RTX is part of the Pentagon’s Golden Dome missile-shield effort, but the report says established contractors’ large interceptor backlogs remain more significant than new entrants’ roles. It does not identify a specific new award or revenue for RTX. Golden Dome funding and contractors

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Weiss Ratings downgraded RTX from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday. BNP Paribas Exane boosted their price target on RTX from $220.00 to $265.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Sanford C. Bernstein lowered their price target on RTX from $223.00 to $214.00 and set a “market perform” rating for the company in a report on Thursday, October 15th. Citigroup reissued a “buy” rating on shares of RTX in a research report on Wednesday, October 7th. Finally, Argus set a $245.00 price objective on RTX and gave the stock a “buy” rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $231.24.

About RTX

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.