Smith Salley Wealth Management Raises Stock Holdings in RTX Corporation $RTX

Smith Salley Wealth Management boosted its position in RTX Corporation (NYSE:RTX) by 4.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 227,175 shares of the company’s stock after acquiring an additional 9,835 shares during the period. RTX accounts for 2.0% of Smith Salley Wealth Management’s investment portfolio, making the stock its 11th biggest position. Smith Salley Wealth Management’s holdings in RTX were worth $38,013,000 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. PFS Partners LLC increased its holdings in RTX by 101.1% during the 2nd quarter. PFS Partners LLC now owns 177 shares of the company’s stock valued at $26,000 after purchasing an additional 89 shares during the period. LFA Lugano Financial Advisors SA purchased a new position in shares of RTX during the second quarter valued at approximately $29,000. Access Investment Management LLC bought a new position in shares of RTX during the second quarter valued at approximately $31,000. Clayton Financial Group LLC purchased a new stake in RTX in the third quarter worth $36,000. Finally, Halbert Hargrove Global Advisors LLC boosted its holdings in RTX by 194.5% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 215 shares of the company’s stock valued at $36,000 after acquiring an additional 142 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In other RTX news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $180.15, for a total transaction of $873,547.35. Following the completion of the sale, the executive vice president directly owned 59,556 shares in the company, valued at approximately $10,729,013.40. This trade represents a 7.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on RTX shares. Jefferies Financial Group restated a “hold” rating and issued a $190.00 price objective on shares of RTX in a report on Tuesday, November 25th. Morgan Stanley set a $215.00 price target on shares of RTX and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. UBS Group lifted their price objective on RTX from $197.00 to $202.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Sanford C. Bernstein upped their target price on RTX from $157.00 to $181.00 and gave the stock a “market perform” rating in a report on Monday, October 6th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $195.00 target price on shares of RTX in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.18.

RTX Stock Performance

Shares of RTX opened at $183.93 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 1.07 and a debt-to-equity ratio of 0.58. The stock has a market cap of $246.61 billion, a P/E ratio of 37.77, a P/E/G ratio of 2.92 and a beta of 0.44. The business’s 50 day moving average price is $176.84 and its 200-day moving average price is $162.89. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $188.00.

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

RTX Announces Dividend

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

About RTX

RTX (NYSE: RTX) is a U.S.-based aerospace and defense company that designs, manufactures and services advanced systems for commercial, military and governmental customers worldwide. The company was created through the 2020 combination of Raytheon Company and United Technologies Corporation and later adopted the RTX name, positioning itself as a diversified provider across the aerospace and defense value chain.

RTX’s operations span a broad set of capabilities. Its commercial aerospace businesses include Pratt & Whitney aircraft engines and Collins Aerospace systems, which supply propulsion, avionics, aerostructures, interiors and integrated aircraft systems.