BlackRock Fund Advisors recently announced the acquisition of new stake in RTX Corp (NYSE:RTX). The institutional investor has increased its shareholding in the Industrials company by 0.01% to 76.17 million shares with purchase of 9882.0 shares. This fresh investment now brings its stake to 5.30% valued currently at $6.21 billion. In addition, Capital Research & Management Co raised its holdings by 6.55 million to 73.08 million shares. And Capital Research & Management Co has lifted its position by 19.04% or 8.65 million shares – to 54.07 million shares.
With over 7.57 million RTX Corp (RTX) shares trading Monday and a closing price of $85.84 on the day, the dollar volume was approximately $650.01 million. The shares have shown a negative half year performance of -11.94% and its price on 01/08/24 gained nearly 0.54%. Currently, there are 1.47B common shares owned by the public and among those 1.44B shares have been available to trade.
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Insiders at the company have transacted a total of 30 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 175,876 shares. Insider sales of the common stock occurred on 17 occasions, with total insider shares sold totaling 73,812 shares.
The top 3 mutual fund holders in RTX Corp are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and American Mutual Fund. Vanguard Total Stock Market ETF owns 45.62 million shares of the company’s stock, all valued at over $3.72 billion. The company bought an additional 55032.0 shares recently to bring their total holdings to about 3.17% of the shares outstanding. Vanguard 500 Index Fund bought 0.17 million shares to see its total holdings expand to 35.15 million shares valued at over $2.86 billion and representing 2.44% of the shares outstanding. American Mutual Fund bought 0.39 million shares to bring its total holdings to over 23.65 million shares at a value of $1.93 billion. American Mutual Fund now owns shares totaling to 1.64% of the shares outstanding.
Shares of RTX Corp (NYSE: RTX) opened at $84.91, down -$0.47 from a prior closing price of $85.38. The company’s stock has a 5-day price change of 2.02% and 23.03% over the past three months. RTX shares are trading 2.02% year to date (YTD), with the 12-month market performance down to -14.91% lower. It has a 12-month low price of $68.56 and touched a high of $104.91 over the same period. RTX has an average intraday trading volume of 10.00 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.46%, 4.94%, and -2.28% respectively.
Institutional ownership of RTX Corp (NYSE: RTX) shares accounts for 80.64% of the company’s 1.47B shares outstanding. Mutual fund holders own 37.61%, while other institutional holders and individual stakeholders account for 43.37% and 0.13% respectively.
It has a market capitalization of $123.43B and a beta (3y monthly) value of 0.96. The stock’s trailing 12-month PE ratio is 39.84, while the earnings-per-share (ttm) stands at $2.15. The company has a PEG of 3.57 and a Quick Ratio of 0.77 with the debt-to-equity ratio at 0.53. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.70% over the week and 1.75% over the month.
Analysts forecast that RTX Corp (RTX) will achieve an EPS of $1.25 for the current quarter, $1.22 for the next quarter and $5.37 for 2024. The lowest estimate earnings-per-share for the quarter is $1.2 while analysts give the company a high EPS estimate of $1.28. Comparatively, EPS for the current quarter was $1.27 a year ago. Earnings per share for the fiscal year are expected to increase by 4.67%, and 7.10% over the next financial year. EPS should grow at an annualized rate of 11.17% over the next five years, compared to -9.29% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 25 brokerage firm advisors rate RTX Corp (RTX) as a “Moderate Buy” at a consensus score of 2.48. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 14 of the 25 advise that investors “hold,” and 1 rated it as a “Sell.”
