Beacon Pointe Advisors LLC Has $27.51 Million Stake in RTX Corporation $RTX

Beacon Pointe Advisors LLC lowered its position in RTX Corporation (NYSE:RTX) by 17.5% in the second quarter, HoldingsChannel.com reports. The fund owned 188,423 shares of the company’s stock after selling 39,967 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in RTX were worth $27,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in RTX in the 2nd quarter valued at about $2,359,602,000. Nuveen LLC bought a new stake in RTX in the first quarter valued at approximately $916,739,000. Laurel Wealth Advisors LLC lifted its position in shares of RTX by 14,974.7% in the second quarter. Laurel Wealth Advisors LLC now owns 3,598,943 shares of the company’s stock valued at $525,518,000 after buying an additional 3,575,069 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of RTX by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 122,074,734 shares of the company’s stock worth $17,825,353,000 after acquiring an additional 2,238,247 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of RTX by 28.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company’s stock worth $845,784,000 after acquiring an additional 1,394,918 shares during the period. Institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

RTX has been the subject of several research reports. The Goldman Sachs Group raised their price target on RTX from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Robert W. Baird set a $203.00 target price on shares of RTX in a research note on Wednesday, October 22nd. Bank of America lifted their target price on shares of RTX from $175.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Susquehanna increased their price target on shares of RTX from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $195.00 price objective on shares of RTX in a report on Wednesday, October 8th. Three investment 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $181.00.

Insider Buying and Selling at RTX

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

RTX Price Performance

Shares of RTX stock opened at $168.01 on Tuesday. 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 capitalization of $225.26 billion, a price-to-earnings ratio of 34.50, a price-to-earnings-growth ratio of 2.79 and a beta of 0.64. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $181.31. The company has a 50-day simple moving average of $170.40 and a two-hundred day simple moving average of $156.77.

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

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Friday, November 21st will be issued a $0.68 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $2.72 annualized dividend and a yield of 1.6%. RTX’s payout ratio is currently 55.85%.

About RTX

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.