Montag A & Associates Inc. Decreases Stock Position in RTX Co. (NYSE:RTX)

Montag A & Associates Inc. cut its holdings in RTX Co. (NYSE:RTX) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,234 shares of the company’s stock after selling 252 shares during the period. Montag A & Associates Inc.’s holdings in RTX were worth $2,232,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legacy Financial Advisors Inc. raised its stake in RTX by 38.7% in the 4th quarter. Legacy Financial Advisors Inc. now owns 4,717 shares of the company’s stock valued at $397,000 after purchasing an additional 1,315 shares during the last quarter. AJOVista LLC acquired a new position in RTX in the 4th quarter valued at about $100,000. Vestmark Advisory Solutions Inc. raised its stake in RTX by 2.4% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 9,714 shares of the company’s stock valued at $817,000 after purchasing an additional 232 shares during the last quarter. FourThought Financial Partners LLC raised its stake in RTX by 29.5% in the 4th quarter. FourThought Financial Partners LLC now owns 7,932 shares of the company’s stock valued at $667,000 after purchasing an additional 1,807 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in RTX by 17.6% in the 4th quarter. National Bank of Canada FI now owns 519,666 shares of the company’s stock valued at $44,269,000 after purchasing an additional 77,647 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at RTX

In other news, insider Shane G. Eddy sold 6,741 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related 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 transaction of $773,597.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the firm’s 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 transaction, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by corporate insiders.

RTX Stock Up 0.9 %

Shares of NYSE:RTX opened at $123.34 on Monday. 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 52-week low of $68.56 and a 52-week high of $123.70. The company has a 50 day moving average of $110.19 and a two-hundred day moving average of $103.37. The company has a market capitalization of $164.07 billion, a price-to-earnings ratio of 48.37, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. During the same quarter last year, the company earned $1.29 earnings per share. RTX’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, analysts forecast that RTX Co. will post 5.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RTX. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their target price for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. The Goldman Sachs Group increased their price objective on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Susquehanna increased their price objective on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Royal Bank of Canada increased their price objective 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. Finally, JPMorgan Chase & Co. increased their price objective on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $153.47.

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.