Sompo Asset Management Co. Ltd. Trims Holdings in RTX Co. (NYSE:RTX)

Sompo Asset Management Co. Ltd. reduced its holdings in shares of RTX Co. (NYSE:RTX) by 20.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 7,010 shares of the company’s stock after selling 1,780 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in RTX were worth $704,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of RTX. Briaud Financial Planning Inc lifted its position in RTX by 64.1% during the 2nd 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 acquired a new position in RTX during the second quarter worth $26,000. Mizuho Securities Co. Ltd. purchased a new position in RTX in the second quarter worth $32,000. Fairman Group LLC purchased a new position in RTX in the fourth quarter worth $38,000. Finally, Beaird Harris Wealth Management LLC lifted its holdings in RTX by 42.2% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock valued at $39,000 after acquiring an additional 139 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on RTX shares. Robert W. Baird increased their price target on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Melius Research lifted their price target on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. TD Cowen upped their price target on RTX from $115.00 to $142.00 and gave the stock a “buy” 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 for the company in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. raised their price target on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $157.31.

Insider Activity at RTX

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, 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 transaction of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction on 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 owns 12,318 shares of the company’s stock, valued at $1,402,773.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 178,333 shares of company stock worth $20,861,880. Company insiders own 0.13% of the company’s stock.

RTX Stock Down 0.6 %

RTX opened at $118.15 on Friday. The business has a 50-day moving average of $115.87 and a two-hundred day moving average of $106.26. 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 Co. has a 12 month low of $68.56 and a 12 month high of $123.70. The stock has a market capitalization of $157.17 billion, a price-to-earnings ratio of 46.33, a price-to-earnings-growth ratio of 2.10 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, topping 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 business had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. During the same period in the prior year, the firm posted $1.29 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, research analysts expect that RTX Co. will post 5.45 earnings per share for the current 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.