55,370 Shares of RTX Corporation $RTX Acquired by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. acquired a new stake in RTX Corporation (NYSE:RTX – Free Report) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 55,370 shares of the company’s stock, valued at approximately $10,279,000. RTX accounts for 0.7% of Lockheed Martin Investment Management Co.’s investment portfolio, making the stock its 28th biggest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Evergreen Advisors LLC purchased a new position in RTX in the first quarter valued at about $31,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of RTX during the 2nd quarter worth approximately $36,000. Next Level Wealth Planning LLC purchased a new stake in shares of RTX during the 3rd quarter worth approximately $41,000. Midwest Capital Advisors LLC acquired a new stake in shares of RTX in the 3rd quarter worth approximately $42,000. Finally, Groupe la Francaise increased its stake in RTX by 50.9% in the 2nd quarter. Groupe la Francaise now owns 261 shares of the company’s stock valued at $45,000 after purchasing an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Key RTX News

Here are the key news stories impacting RTX this week:

• Positive Sentiment: RTX is reportedly planning to increase Tomahawk and AMRAAM missile production as much as fourfold by 2030. If carried out, the expansion could help the company capture more defense demand, though the report describes a plan rather than completed production growth. Tomahawk and AMRAAM production report
• Positive Sentiment: Raytheon completed a third successful flight test of its DeepStrike JR3 rocket for the U.S. Army’s Joint Reduced Range Rocket program. The test demonstrated the system’s capabilities and may strengthen Raytheon’s position as the Army evaluates a replacement for its training rocket; it does not itself confirm a contract award. Raytheon JR3 flight test announcement

RTX Price Performance

RTX stock opened at $196.35 on Tuesday. RTX Corporation has a 1 year low of $166.74 and a 1 year high of $226.88. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.81 and a current ratio of 1.05. The stock’s 50 day moving average price is $193.15 and its 200 day moving average price is $195.52. The firm has a market cap of $264.96 billion, a P/E ratio of 31.87, a PEG ratio of 2.21 and a beta of 0.30.

RTX (NYSE:RTX – Get Free Report) last announced 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 firm had revenue of $24.96 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.70 EPS. On average, sell-side analysts expect that RTX Corporation will post 7.68 earnings per share for the current fiscal year.

RTX Announces Dividend

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

Wall Street Analysts Forecast Growth

RTX has been the subject of several research reports. Rothschild & Co Redburn lifted their price objective on RTX from $180.00 to $215.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. UBS Group upped their target price on RTX from $209.00 to $212.00 and gave the company a “neutral” rating in a report on Wednesday, October 21st. Morgan Stanley reissued an “overweight” rating and issued a $240.00 target price (up from $220.00) on shares of RTX in a report on Friday, July 24th. Royal Bank Of Canada dropped their price target on RTX from $250.00 to $235.00 and set an “outperform” rating for the company in a research report on Thursday, October 15th. Finally, Robert W. Baird set a $240.00 price target on RTX in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $231.24.

View Our Latest Report on RTX

Insiders Place Their Bets

In related news, EVP Ramsaran Maharajh sold 13,655 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $223.92, for a total transaction of $3,057,627.60. Following the sale, the executive vice president owned 13,184 shares of the company’s stock, valued at $2,952,161.28. This trade represents a 50.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dantaya Williams sold 9,071 shares of RTX stock in a transaction dated 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 owned 16,930 shares of the company’s stock, valued at approximately $3,414,781. This represents a 34.89% decrease in their position. The SEC filing for this sale provides additional information. 0.10% of the stock is owned by company insiders.

RTX Company Profile

(Free Report)

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.

RTX was formed in 2020 through the combination of Raytheon Company and United Technologies Corporation.

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