Valmark Advisers Inc. Raises Position in RTX Co. (NYSE:RTX)

Valmark Advisers Inc. increased its stake in shares of RTX Co. (NYSE:RTX) by 12.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 10,934 shares of the company’s stock after acquiring an additional 1,194 shares during the quarter. Valmark Advisers Inc.’s holdings in RTX were worth $1,098,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of RTX. Briaud Financial Planning Inc grew its position in RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new position in shares of RTX in the 2nd quarter worth approximately $26,000. Alaska Permanent Fund Corp bought a new position in shares of RTX in the first quarter valued at approximately $42,000. Stephens Consulting LLC increased its position in shares of RTX by 34.1% during the second quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock valued at $45,000 after acquiring an additional 114 shares during the last quarter. Finally, Fairman Group LLC bought a new stake in RTX during the fourth quarter worth $38,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Melius Research lifted their target price on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Wells Fargo & Company dropped their target price 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. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their price target for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Susquehanna increased their price objective on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada upped their price target on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $153.47.

Insider Buying and Selling

In other RTX news, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the sale, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the sale, the vice president now directly owns 12,318 shares of the company’s stock, valued at $1,402,773.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock valued at $20,861,880 over the last quarter. 0.13% of the stock is owned by company insiders.

RTX Stock Up 0.9 %

RTX opened at $123.34 on Monday. The business’s fifty day simple moving average is $110.19 and its 200 day simple moving average is $103.37. RTX Co. has a 52 week low of $68.56 and a 52 week high of $123.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The stock has a market cap of $164.07 billion, a PE ratio of 48.37, a P/E/G ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last issued its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.11. The business had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. RTX’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.29 earnings per share. As a group, research analysts expect that RTX Co. will post 5.45 earnings per share for the current fiscal year.

RTX 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.