RTX Corporation $RTX Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lowered its stake in shares of RTX Corporation (NYSE:RTX) by 65.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 271,418 shares of the company’s stock after selling 525,432 shares during the quarter. Bank of Nova Scotia’s holdings in RTX were worth $39,632,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. BlackDiamond Wealth Management LLC acquired a new position in shares of RTX during the second quarter worth about $247,000. Bollard Group LLC raised its holdings in shares of RTX by 3.1% during the 2nd quarter. Bollard Group LLC now owns 23,920 shares of the company’s stock valued at $3,493,000 after buying an additional 726 shares during the period. California Public Employees Retirement System raised its holdings in shares of RTX by 9.5% during the 2nd quarter. California Public Employees Retirement System now owns 3,762,290 shares of the company’s stock valued at $549,370,000 after buying an additional 327,213 shares during the period. Cerity Partners LLC lifted its position in RTX by 2.3% during the 2nd quarter. Cerity Partners LLC now owns 1,134,598 shares of the company’s stock worth $165,675,000 after acquiring an additional 25,755 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in RTX by 2.2% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 5,027 shares of the company’s stock worth $734,000 after acquiring an additional 107 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RTX. Robert W. Baird set a $203.00 target price on shares of RTX in a research report on Wednesday, October 22nd. Jefferies Financial Group reaffirmed a “hold” rating and set a $190.00 price target on shares of RTX in a research note on Tuesday, November 25th. BNP Paribas Exane started coverage on shares of RTX in a research report on Tuesday, November 18th. They issued an “outperform” rating and a $210.00 price objective for the company. Morgan Stanley set a $215.00 target price on RTX and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of RTX in a report on Friday, October 31st. 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 company. According to data from MarketBeat, RTX currently has a consensus rating of “Moderate Buy” and an average price target of $181.00.

RTX Trading Up 0.2%

NYSE:RTX opened at $171.38 on Tuesday. The company has a market cap of $229.78 billion, a PE ratio of 35.19, a P/E/G ratio of 2.68 and a beta of 0.44. The business’s 50 day moving average is $171.23 and its two-hundred day moving average is $157.98. 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 posted its quarterly earnings results on Tuesday, October 21st. The company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.29. RTX had a return on equity of 13.28% and a net margin of 7.67%.The business had revenue of $22.48 billion for the quarter, compared to analyst estimates of $21.26 billion. During the same period in the prior year, the company posted $1.45 EPS. The business’s revenue was up 11.9% compared to the same quarter last year. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. On average, analysts predict that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders 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 dividend yield of 1.6%. RTX’s payout ratio is 55.85%.

Insider Activity at RTX

In other news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the company’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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.15% of the company’s stock.

RTX Company 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.