Baird Financial Group Inc. Trims Position in RTX Corporation $RTX

Baird Financial Group Inc. reduced its holdings in RTX Corporation (NYSE:RTX) by 1.1% during the 2nd quarter, Holdings Channel reports. The fund owned 758,970 shares of the company’s stock after selling 8,705 shares during the period. Baird Financial Group Inc.’s holdings in RTX were worth $110,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RTX. Vanguard Group Inc. boosted its holdings in RTX by 1.9% in the second quarter. Vanguard Group Inc. now owns 122,074,734 shares of the company’s stock valued at $17,825,353,000 after purchasing an additional 2,238,247 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of RTX by 4.2% in the 2nd quarter. Fisher Asset Management LLC now owns 20,599,190 shares of the company’s stock valued at $3,007,894,000 after buying an additional 837,268 shares during the period. Norges Bank purchased a new stake in shares of RTX in the second quarter worth about $2,359,602,000. Massachusetts Financial Services Co. MA grew its holdings in RTX by 9.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 15,958,191 shares of the company’s stock worth $2,330,215,000 after acquiring an additional 1,361,071 shares during the period. Finally, Franklin Resources Inc. raised its position in RTX by 1.4% during the second quarter. Franklin Resources Inc. now owns 15,575,867 shares of the company’s stock valued at $2,274,388,000 after acquiring an additional 221,984 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Activity

In related news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 59,556 shares in the company, valued at approximately $10,729,013.40. The trade was a 7.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is owned by corporate insiders.

RTX Stock Down 0.2%

Shares of NYSE RTX opened at $168.52 on Thursday. The firm has a market cap of $225.95 billion, a price-to-earnings ratio of 34.60, a price-to-earnings-growth ratio of 2.63 and a beta of 0.44. The company’s 50-day simple moving average is $170.71 and its 200-day simple moving average is $157.08. The company has a quick ratio of 0.81, a current ratio of 1.07 and a debt-to-equity ratio of 0.58. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $181.31.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 21st. The company reported $1.70 earnings per share 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 firm had revenue of $22.48 billion during the quarter, compared to the consensus estimate of $21.26 billion. During the same quarter in the prior year, the firm earned $1.45 EPS. The company’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. Equities analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Friday, November 21st will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, November 21st. RTX’s dividend payout ratio (DPR) is 55.85%.

Analysts Set New Price Targets

Several equities research analysts have commented on RTX shares. Susquehanna upped their price objective on RTX from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, October 22nd. Morgan Stanley set a $215.00 price target on shares of RTX and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Bank of America lifted their price objective on shares of RTX from $175.00 to $215.00 and gave the company a “buy” rating in a report on Monday, October 27th. BNP Paribas upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, November 18th. Finally, Jefferies Financial Group restated a “hold” rating and set a $190.00 target price on shares of RTX in a research report on Tuesday, November 25th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $181.00.

RTX Profile

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.