PNC Financial Services Group Inc. Sells 16,485 Shares of RTX Corporation $RTX

PNC Financial Services Group Inc. lessened its holdings in shares of RTX Corporation (NYSE:RTX) by 0.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,925,307 shares of the company’s stock after selling 16,485 shares during the period. PNC Financial Services Group Inc.’s holdings in RTX were worth $536,501,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Alpha Cubed Investments LLC grew its holdings in RTX by 0.3% during the fourth quarter. Alpha Cubed Investments LLC now owns 14,720 shares of the company’s stock valued at $2,700,000 after purchasing an additional 50 shares during the period. LeConte Wealth Management LLC increased its holdings in RTX by 2.3% during the 4th quarter. LeConte Wealth Management LLC now owns 2,247 shares of the company’s stock worth $412,000 after purchasing an additional 51 shares in the last quarter. Rydar Equities Inc. grew its holdings in shares of RTX by 0.4% during the fourth quarter. Rydar Equities Inc. now owns 13,524 shares of the company’s stock worth $2,480,000 after buying an additional 52 shares in the last quarter. Howard Capital Management Inc. raised its holdings in shares of RTX by 0.4% in the fourth quarter. Howard Capital Management Inc. now owns 12,340 shares of the company’s stock valued at $2,263,000 after purchasing an additional 53 shares during the last quarter. Finally, Purus Wealth Management LLC increased its stake in RTX by 0.4% in the 4th quarter. Purus Wealth Management LLC now owns 14,722 shares of the company’s stock valued at $2,700,000 after buying an additional 53 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Royal Bank Of Canada boosted their price target on RTX from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. Citigroup lowered their price target on shares of RTX from $238.00 to $226.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. TD Cowen reiterated a “buy” rating on shares of RTX in a research report on Tuesday, January 27th. DZ Bank downgraded shares of RTX from a “hold” rating to a “strong sell” rating in a research report on Friday, February 6th. Finally, Wall Street Zen downgraded RTX from a “strong-buy” rating to a “buy” rating in a research note on Sunday, April 26th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, RTX presently has an average rating of “Moderate Buy” and a consensus price target of $210.75.

RTX Stock Down 0.8%

NYSE:RTX opened at $174.51 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.02 and a quick ratio of 0.78. RTX Corporation has a one year low of $130.90 and a one year high of $214.50. The company has a market cap of $235.00 billion, a PE ratio of 32.74, a P/E/G ratio of 2.49 and a beta of 0.31. The firm’s 50 day simple moving average is $190.53 and its 200 day simple moving average is $188.77.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 21st. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.26. The business had revenue of $22.08 billion during the quarter, compared to analyst estimates of $21.38 billion. RTX had a return on equity of 13.50% and a net margin of 8.03%.RTX’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $1.47 EPS. RTX has set its FY 2026 guidance at 6.600-6.800 EPS. On average, research analysts anticipate that RTX Corporation will post 6.91 earnings per share for the current year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Friday, May 22nd will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.7%. This is a positive change from RTX’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, May 22nd. RTX’s dividend payout ratio is 51.03%.

Insider Buying and Selling

In other RTX news, EVP Ramsaran Maharajh sold 15,124 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $204.65, for a total transaction of $3,095,126.60. Following the completion of the transaction, the executive vice president owned 13,184 shares in the company, valued at approximately $2,698,105.60. This trade represents a 53.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dantaya M. Williams sold 12,713 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $202.83, for a total transaction of $2,578,577.79. Following the completion of the transaction, the executive vice president owned 16,749 shares in the company, valued at $3,397,199.67. This trade represents a 43.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 63,592 shares of company stock valued at $13,023,502 over the last ninety days. 0.10% of the stock is owned by company insiders.

RTX News Roundup

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Raytheon, an RTX business, won an Office of Naval Research contract to further develop software-defined radar for next-generation naval systems, a potential growth driver in a high-value defense market. RTX’s Raytheon awarded contract to further develop next-generation software-defined radar capability
• Positive Sentiment: Raytheon completed the preliminary design review for NASA’s Landsat Next Instrument Suite, signaling progress on a space program that could add future revenue and strengthen RTX’s sensors and space portfolio. RTX’s Raytheon completes design review of Landsat Next space instruments
• Neutral Sentiment: Brokerage sentiment remains constructive, with RTX rated an average “Moderate Buy,” which may help support investor confidence but does not materially change the near-term fundamentals. RTX Corporation (NYSE:RTX) Given Average Rating of “Moderate Buy” by Brokerages
• Neutral Sentiment: Several articles mentioning “RTX” relate to NVIDIA-branded gaming GPUs and laptops, not RTX Corporation, and are unlikely to affect the stock.

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.