HBK Sorce Advisory LLC Purchases 5,317 Shares of RTX Corporation $RTX

HBK Sorce Advisory LLC increased its holdings in RTX Corporation (NYSE:RTX) by 11.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 51,417 shares of the company’s stock after acquiring an additional 5,317 shares during the quarter. HBK Sorce Advisory LLC’s holdings in RTX were worth $8,667,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Exchange Traded Concepts LLC raised its holdings in shares of RTX by 100.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 17,851 shares of the company’s stock valued at $2,987,000 after acquiring an additional 8,930 shares in the last quarter. Private Client Services LLC increased its position in shares of RTX by 9.4% in the third quarter. Private Client Services LLC now owns 3,057 shares of the company’s stock worth $512,000 after purchasing an additional 262 shares during the last quarter. Somerset Trust Co raised its stake in RTX by 0.8% in the third quarter. Somerset Trust Co now owns 39,208 shares of the company’s stock valued at $6,561,000 after purchasing an additional 293 shares in the last quarter. Cohen Investment Advisors LLC lifted its position in RTX by 1.7% during the third quarter. Cohen Investment Advisors LLC now owns 30,803 shares of the company’s stock valued at $5,154,000 after purchasing an additional 527 shares during the last quarter. Finally, Westmount Partners LLC purchased a new position in RTX in the 3rd quarter worth approximately $205,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RTX has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on shares of RTX from $195.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday. Wall Street Zen downgraded RTX from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 14th. Sanford C. Bernstein lifted their price target on RTX from $157.00 to $181.00 and gave the stock a “market perform” rating in a research note on Monday, October 6th. UBS Group raised their price objective on RTX from $197.00 to $202.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Finally, Bank of America upped their target price on RTX from $175.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and an average target price of $184.18.

RTX Stock Up 2.0%

RTX opened at $185.70 on Tuesday. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $185.87. 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 business’s 50-day moving average price is $173.91 and its 200-day moving average price is $161.02. The company has a market cap of $248.97 billion, a P/E ratio of 38.13, a P/E/G ratio of 2.88 and a beta of 0.44.

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

RTX Dividend Announcement

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

Insider Buying and Selling

In other RTX news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the 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 completion of the sale, the executive vice president owned 59,556 shares of the company’s stock, valued at $10,729,013.40. This represents a 7.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.15% of the stock is owned by corporate insiders.

RTX Profile

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.