Ritholtz Wealth Management Acquires 1,470 Shares of RTX Co. (NYSE:RTX)

Ritholtz Wealth Management raised its holdings in shares of RTX Co. (NYSE:RTX) by 7.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,242 shares of the company’s stock after purchasing an additional 1,470 shares during the period. Ritholtz Wealth Management’s holdings in RTX were worth $2,233,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RTX. Briaud Financial Planning Inc lifted its stake in RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the period. Lynx Investment Advisory bought a new position in RTX in the 2nd quarter worth $26,000. Fairman Group LLC bought a new stake in shares of RTX during the 4th quarter valued at about $38,000. Beaird Harris Wealth Management LLC boosted its stake in shares of RTX by 42.2% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock valued at $39,000 after purchasing an additional 139 shares in the last quarter. Finally, USA Financial Formulas raised its stake in RTX by 510.3% in the fourth quarter. USA Financial Formulas now owns 476 shares of the company’s stock worth $40,000 after buying an additional 398 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the topic of several research reports. Susquehanna lifted their price objective on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research report on Friday, July 26th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and upped their price target for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research report on Tuesday, July 30th. The Goldman Sachs Group increased their price target on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, Wells Fargo & Company dropped their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, RTX presently has an average rating of “Hold” and a consensus target price of $153.47.

RTX Trading Up 0.9 %

RTX stock opened at $123.34 on Monday. RTX Co. has a one year low of $68.56 and a one year high of $123.70. The business’s fifty day moving average is $110.19 and its 200 day moving average is $103.37. The stock has a market capitalization of $164.07 billion, a PE ratio of 48.37, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. During the same quarter last year, the firm posted $1.29 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, sell-side analysts predict that RTX Co. will post 5.45 EPS for the current year.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 17,570 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.87, for a total value of $2,018,265.90. Following the transaction, the executive vice president now directly owns 38,855 shares in the company, valued at approximately $4,463,273.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Dantaya M. Williams sold 17,570 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the completion of the sale, the executive vice president now owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kevin G. Dasilva sold 8,166 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the sale, the vice president now owns 45,208 shares of the company’s stock, valued at $5,197,111.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 178,333 shares of company stock worth $20,861,880. Insiders own 0.13% 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.