Prudential PLC Makes New Investment in RTX Co. (NYSE:RTX)

Prudential PLC acquired a new stake in RTX Co. (NYSE:RTX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,078 shares of the company’s stock, valued at approximately $309,000.

A number of other hedge funds have also made changes to their positions in RTX. Capital Research Global Investors grew its holdings in RTX by 4.2% during the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after acquiring an additional 3,761,246 shares during the period. Capital International Investors boosted its position in shares of RTX by 4.8% during the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after purchasing an additional 3,161,165 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of RTX by 2.0% in the 1st quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after purchasing an additional 213,331 shares during the last quarter. Sanders Capital LLC raised its holdings in shares of RTX by 6.8% in the 4th quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock worth $898,147,000 after purchasing an additional 677,520 shares in the last quarter. Finally, Norges Bank acquired a new stake in RTX during the fourth quarter valued at approximately $690,154,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RTX shares. Robert W. Baird upped their price target on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. The Goldman Sachs Group upped their target price on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Royal Bank of Canada increased 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. Wells Fargo & Company cut their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Finally, TD Cowen raised their target price on shares of RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $157.31.

Insider Buying and Selling at RTX

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

RTX Price Performance

Shares of NYSE:RTX opened at $119.12 on Friday. The firm has a market cap of $158.37 billion, a price-to-earnings ratio of 46.71, a P/E/G ratio of 2.10 and a beta of 0.82. RTX Co. has a 1 year low of $68.56 and a 1 year high of $123.70. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The business has a fifty day simple moving average of $114.11 and a 200 day simple moving average of $105.26.

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

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.