Bank of Nova Scotia Decreases Stock Position in RTX Corporation $RTX

Bank of Nova Scotia decreased its position in shares of RTX Corporation (NYSE:RTX) by 65.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 271,418 shares of the company’s stock after selling 525,432 shares during the period. Bank of Nova Scotia’s holdings in RTX were worth $39,632,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cornerstone Advisory LLC grew its holdings in RTX by 0.9% during the 2nd quarter. Cornerstone Advisory LLC now owns 7,490 shares of the company’s stock valued at $1,094,000 after buying an additional 64 shares in the last quarter. Briaud Financial Planning Inc boosted its position in shares of RTX by 25.4% during the 2nd quarter. Briaud Financial Planning Inc now owns 321 shares of the company’s stock valued at $46,000 after acquiring an additional 65 shares during the last quarter. Hudock Inc. grew its holdings in shares of RTX by 1.3% in the second quarter. Hudock Inc. now owns 5,346 shares of the company’s stock valued at $781,000 after purchasing an additional 68 shares in the last quarter. Gries Financial LLC grew its holdings in shares of RTX by 0.7% in the second quarter. Gries Financial LLC now owns 9,780 shares of the company’s stock valued at $1,428,000 after purchasing an additional 69 shares in the last quarter. Finally, M3 Advisory Group LLC increased its position in RTX by 2.7% in the second quarter. M3 Advisory Group LLC now owns 2,631 shares of the company’s stock worth $384,000 after purchasing an additional 69 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Price Performance

RTX opened at $171.38 on Tuesday. The business has a fifty day moving average of $171.23 and a 200 day moving average of $157.98. The stock has a market cap of $229.78 billion, a P/E ratio of 35.19, a PEG ratio of 2.68 and a beta of 0.44. 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 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. The business had revenue of $22.48 billion during the quarter, compared to the consensus estimate of $21.26 billion. RTX had a return on equity of 13.28% and a net margin of 7.67%.The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the company earned $1.45 earnings per share. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. As a group, sell-side analysts anticipate 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 given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, November 21st. RTX’s payout ratio is 55.85%.

Wall Street Analyst Weigh In

Several research firms have commented on RTX. Jefferies Financial Group reiterated a “hold” rating and set a $190.00 price objective on shares of RTX in a research report on Tuesday, November 25th. Morgan Stanley set a $215.00 target price on shares of RTX and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Robert W. Baird set a $203.00 price target on RTX in a research report on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $195.00 price objective on shares of RTX in a research note on Wednesday, October 8th. Finally, Bank of America raised their price objective on RTX from $175.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, October 27th. 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $181.00.

Insider Transactions at RTX

In other RTX news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $180.15, for a total value of $873,547.35. Following the transaction, the executive vice president directly owned 59,556 shares in the company, valued at $10,729,013.40. This represents a 7.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is currently owned by company insiders.

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.