Neville Rodie & Shaw Inc. Reduces Stock Position in RTX Co. (NYSE:RTX)

Neville Rodie & Shaw Inc. cut its holdings in RTX Co. (NYSE:RTX) by 6.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,070 shares of the company’s stock after selling 5,025 shares during the period. Neville Rodie & Shaw Inc.’s holdings in RTX were worth $8,248,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Capital Research Global Investors raised its position in RTX by 4.2% in 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 raised its position in RTX by 4.8% in the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after acquiring an additional 3,161,165 shares during the period. Clearbridge Investments LLC raised its position in RTX by 2.0% in the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after acquiring an additional 213,331 shares during the period. Legal & General Group Plc raised its position in RTX by 4.4% in the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after acquiring an additional 362,340 shares during the period. Finally, Ameriprise Financial Inc. raised its position in RTX by 5.2% in the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after acquiring an additional 408,551 shares during the period. 86.50% of the stock is currently owned by institutional investors.

RTX Trading Down 0.3 %

Shares of NYSE RTX opened at $124.04 on Thursday. The stock has a market capitalization of $164.91 billion, a P/E ratio of 48.64, a PEG ratio of 2.12 and a beta of 0.82. The business’s 50 day moving average is $118.69 and its two-hundred day moving average is $108.07. RTX Co. has a 1-year low of $68.56 and a 1-year high of $125.53. 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 (NYSE:RTX) last released its earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.29 earnings per share. As a group, research analysts expect that RTX Co. will post 5.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Melius Research raised their price objective on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Wells Fargo & Company decreased their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research report on Tuesday, July 30th. Finally, Susquehanna raised their price objective on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $157.31.

Insider Activity

In other 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 transaction, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the sale, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value 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 approximately $66,725,966.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by insiders.

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.