Allied Investment Advisors LLC Sells 559 Shares of RTX Co. (NYSE:RTX)

Allied Investment Advisors LLC trimmed its position in RTX Co. (NYSE:RTX) by 0.5% during the third quarter, HoldingsChannel.com reports. The fund owned 102,809 shares of the company’s stock after selling 559 shares during the quarter. RTX makes up 2.5% of Allied Investment Advisors LLC’s portfolio, making the stock its 11th biggest position. Allied Investment Advisors LLC’s holdings in RTX were worth $12,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Elgethun Capital Management increased its stake in shares of RTX by 3.8% in the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after purchasing an additional 85 shares during the last quarter. Alpha Omega Wealth Management LLC boosted its stake in RTX by 0.6% in the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock valued at $1,518,000 after buying an additional 89 shares in the last quarter. Lazari Capital Management Inc. grew its position in RTX by 1.6% in the second quarter. Lazari Capital Management Inc. now owns 6,009 shares of the company’s stock valued at $603,000 after acquiring an additional 95 shares during the last quarter. Motco raised its stake in RTX by 7.2% during the first quarter. Motco now owns 1,475 shares of the company’s stock worth $144,000 after acquiring an additional 99 shares in the last quarter. Finally, D Orazio & Associates Inc. lifted its holdings in shares of RTX by 4.0% in the second quarter. D Orazio & Associates Inc. now owns 2,602 shares of the company’s stock worth $261,000 after acquiring an additional 99 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and lifted their price target for the company from $109.00 to $129.00 in a report on Thursday. Royal Bank of Canada upped their price target on shares of 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. JPMorgan Chase & Co. upped 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. Finally, Robert W. Baird upped their price target on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $161.13.

RTX Stock Performance

Shares of RTX stock traded up $1.24 during trading hours on Friday, hitting $124.91. 3,056,543 shares of the company were exchanged, compared to its average volume of 6,964,188. RTX Co. has a 52-week low of $68.56 and a 52-week high of $125.53. 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 firm has a fifty day simple moving average of $119.11 and a 200 day simple moving average of $108.40. The stock has a market capitalization of $166.16 billion, a price-to-earnings ratio of 48.98, a P/E/G ratio of 2.18 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings data 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. The business 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 firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.29 EPS. Research analysts predict that RTX Co. will post 5.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction on Wednesday, July 31st. The stock was 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 directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RTX news, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now owns 12,318 shares of the company’s stock, valued at $1,402,773.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of the firm’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 sale, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock worth $20,861,880 over the last 90 days. 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.