Acumen Wealth Advisors LLC Purchases 5,926 Shares of RTX Corporation $RTX

Acumen Wealth Advisors LLC increased its stake in shares of RTX Corporation (NYSE:RTX) by 1,089.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,470 shares of the company’s stock after buying an additional 5,926 shares during the quarter. Acumen Wealth Advisors LLC’s holdings in RTX were worth $1,248,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Navalign LLC bought a new position in RTX in the 4th quarter valued at approximately $25,000. Commonwealth Retirement Investments LLC bought a new stake in shares of RTX during the fourth quarter worth $26,000. Core Wealth Advisors LLC acquired a new position in shares of RTX during the fourth quarter worth $31,000. 1 North Wealth Services LLC lifted its stake in shares of RTX by 456.7% in the 4th quarter. 1 North Wealth Services LLC now owns 167 shares of the company’s stock valued at $31,000 after acquiring an additional 137 shares during the last quarter. Finally, Evergreen Advisors LLC acquired a new stake in shares of RTX during the 1st quarter valued at $31,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analysts Set New Price Targets

RTX has been the subject of a number of recent research reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of RTX in a report on Wednesday, July 8th. Citigroup reissued a “buy” rating on shares of RTX in a research note on Wednesday, June 17th. Erste Group Bank downgraded RTX from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. Wells Fargo & Company initiated coverage on shares of RTX in a report on Wednesday, April 1st. They issued an “equal weight” rating and a $200.00 price objective for the company. Finally, Dbs Bank raised shares of RTX from a “hold” rating to a “moderate buy” rating in a report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.38.

RTX News Summary

Here are the key news stories impacting RTX this week:

• Positive Sentiment: Raytheon UK, part of RTX, won a £2 billion, 15-year British Army collective training contract, adding a large long-term defense revenue stream. RTX (RTX) Could Be 10% Undervalued After The British Army Training Contract
• Positive Sentiment: RTX’s Raytheon unit received a $1.8 billion contract extension for SPY-6 radar production and sustainment for the U.S. Navy, reinforcing defense demand and backlog strength. RTX’s Raytheon awarded $1.8 billion hardware production and sustainment contract for SPY-6 family of radars
• Positive Sentiment: Pratt & Whitney Canada announced a C$275 million investment in its Longueuil facility, with government support, which should help expand manufacturing capacity and long-term production efficiency. RTX’s Pratt & Whitney Canada to invest $275 million CAD in Longueuil facility, with support from the Canadian and Quebec governments
• Positive Sentiment: Pratt & Whitney GTF engines were selected for 15 additional Tigerair Taiwan A321neo aircraft, and BOC Aviation confirmed an order for up to 220 GTF engines, both of which add to future engine sales and services revenue. RTX’s Pratt & Whitney GTF™ engines to power 15 additional Tigerair Taiwan A320neo family aircraft BOC Aviation confirms order for up to 220 engines from RTX’s Pratt & Whitney
• Positive Sentiment: British Airways selected RTX’s Pratt & Whitney GTF engines for up to 63 A320neo aircraft, with a long-term maintenance agreement that should support recurring aftermarket revenue. British Airways selects RTX’s Pratt & Whitney GTF™ engines to power up to 63 Airbus A320neo aircraft
• Positive Sentiment: RTX also announced a nacelle MRO joint venture in Abu Dhabi with Etihad Engineering, expanding its maintenance footprint in a growing market. RTX’s Collins Aerospace and Etihad Engineering create nacelle MRO joint venture
• Neutral Sentiment: RTX heads into upcoming Q2 earnings with analysts expecting revenue and EPS growth, supported by a strong backlog and continued aerospace/defense demand. Should You Buy, Hold or Sell RTX Stock Ahead of Q2 Earnings?

RTX Stock Performance

Shares of RTX stock opened at $193.63 on Wednesday. The stock has a market capitalization of $260.76 billion, a PE ratio of 36.33, a PEG ratio of 2.66 and a beta of 0.30. The business’s 50 day simple moving average is $185.24 and its 200 day simple moving average is $191.81. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.02 and a quick ratio of 0.78. RTX Corporation has a one year low of $143.56 and a one year high of $214.50.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 21st. The company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.26. RTX had a net margin of 8.03% and a return on equity of 13.50%. The business had revenue of $22.08 billion for the quarter, compared to analyst estimates of $21.38 billion. During the same quarter in the previous year, the business earned $1.47 earnings per share. RTX’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, research analysts forecast that RTX Corporation will post 6.92 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Friday, August 14th will be given a dividend of $0.73 per share. The ex-dividend date is Friday, August 14th. This represents a $2.92 annualized dividend and a dividend yield of 1.5%. RTX’s dividend payout ratio is presently 54.78%.

About RTX

RTX (NYSE: RTX) is a U.S.-based aerospace and defense company that designs, manufactures and services advanced systems for commercial, military and governmental customers worldwide. The company was created through the 2020 combination of Raytheon Company and United Technologies Corporation and later adopted the RTX name, positioning itself as a diversified provider across the aerospace and defense value chain.

RTX’s operations span a broad set of capabilities. Its commercial aerospace businesses include Pratt & Whitney aircraft engines and Collins Aerospace systems, which supply propulsion, avionics, aerostructures, interiors and integrated aircraft systems.