Meeder Asset Management Inc. Sells 2,202 Shares of RTX Co. (NYSE:RTX)

Meeder Asset Management Inc. reduced its stake in RTX Co. (NYSE:RTX) by 74.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 743 shares of the company’s stock after selling 2,202 shares during the quarter. Meeder Asset Management Inc.’s holdings in RTX were worth $75,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Oppenheimer & Co. Inc. boosted its holdings in shares of RTX by 3.0% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 150,275 shares of the company’s stock worth $15,086,000 after acquiring an additional 4,365 shares in the last quarter. D Orazio & Associates Inc. boosted its holdings in shares of RTX by 4.0% in the 2nd quarter. D Orazio & Associates Inc. now owns 2,602 shares of the company’s stock worth $261,000 after acquiring an additional 99 shares in the last quarter. Eagle Strategies LLC acquired a new position in shares of RTX in the 2nd quarter worth approximately $204,000. PFG Advisors boosted its holdings in shares of RTX by 2.1% in the 2nd quarter. PFG Advisors now owns 19,047 shares of the company’s stock worth $1,912,000 after acquiring an additional 383 shares in the last quarter. Finally, BOKF NA boosted its holdings in shares of RTX by 3.0% in the 2nd quarter. BOKF NA now owns 65,402 shares of the company’s stock worth $6,566,000 after acquiring an additional 1,883 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on RTX. Bank of America raised RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Royal Bank of Canada upped their price objective on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a report on Tuesday, July 30th. Melius Research upped their price objective on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group upped their price objective on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $157.31.

RTX Price Performance

RTX opened at $119.12 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. RTX Co. has a 12 month low of $68.56 and a 12 month high of $123.70. The company has a fifty day simple moving average of $114.11 and a 200 day simple moving average of $105.36. The stock has a market cap of $158.46 billion, a P/E ratio of 46.71, a P/E/G ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.41 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 business had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. During the same quarter in the prior year, the company earned $1.29 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. On average, research analysts expect that RTX Co. will post 5.45 EPS for the current year.

Insiders Place Their Bets

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction dated 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 transaction, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other RTX news, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction dated Monday, July 29th. The stock was 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 owns 12,318 shares in the company, valued at approximately $1,402,773.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 178,333 shares of company stock worth $20,861,880. Corporate 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.