Meiji Yasuda Life Insurance Co Increases Stock Position in RTX Co. (NYSE:RTX)

Meiji Yasuda Life Insurance Co raised its position in RTX Co. (NYSE:RTX) by 9.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,725 shares of the company’s stock after acquiring an additional 330 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in RTX were worth $374,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of RTX. Briaud Financial Planning Inc lifted its holdings 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 buying an additional 100 shares during the period. Lynx Investment Advisory bought a new stake in RTX in the second quarter valued at $26,000. Mizuho Securities Co. Ltd. purchased a new position in RTX during the 2nd quarter valued at $32,000. Fairman Group LLC purchased a new stake in shares of RTX in the 4th quarter worth about $38,000. Finally, 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. 86.50% of the stock is owned by institutional investors.

Insider Buying and Selling at RTX

In other news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred 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 completion of the sale, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Shane G. Eddy sold 6,741 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the company’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 sale, 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 have sold 178,333 shares of company stock worth $20,861,880. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Robert W. Baird increased their price target on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research report on Tuesday, July 30th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Royal Bank of Canada boosted their target price on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Finally, TD Cowen increased their price target on shares of RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $157.31.

RTX Stock Performance

RTX stock opened at $118.03 on Thursday. The stock’s 50 day simple moving average is $114.84 and its 200 day simple moving average is $105.89. The company has a current ratio of 0.99, a quick ratio of 0.73 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 stock has a market capitalization of $157.01 billion, a PE ratio of 46.29, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82.

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 return on equity of 11.37% and a net margin of 3.12%. The firm had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. During the same period in the prior year, the company posted $1.29 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, research analysts forecast that RTX Co. will post 5.45 earnings per share for the current fiscal year.

About RTX

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.