TIAA Trust National Association Buys 2,240 Shares of RTX Co. (NYSE:RTX)

TIAA Trust National Association lifted its position in RTX Co. (NYSE:RTX) by 2.0% during the 2nd quarter, Holdings Channel reports. The firm owned 116,784 shares of the company’s stock after buying an additional 2,240 shares during the quarter. TIAA Trust National Association’s holdings in RTX were worth $11,724,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Briaud Financial Planning Inc increased its holdings in shares of RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares in the last quarter. Lynx Investment Advisory acquired a new stake in RTX during the 2nd quarter valued at $26,000. Mizuho Securities Co. Ltd. bought a new position in RTX in the 2nd quarter valued at $32,000. Alaska Permanent Fund Corp acquired a new position in RTX in the first quarter worth $42,000. Finally, Stephens Consulting LLC grew its holdings in shares of RTX by 34.1% during the second quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock worth $45,000 after purchasing an additional 114 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chairman now directly 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 Securities & Exchange Commission, which can be accessed through this link. In other RTX news, VP Amy L. Johnson sold 6,734 shares of RTX 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 sale, the vice president now directly owns 12,318 shares in the company, valued at approximately $1,402,773.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 178,333 shares of company stock worth $20,861,880. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Alembic Global Advisors upgraded shares of 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. JPMorgan Chase & Co. upped their target price 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. The Goldman Sachs Group raised their price target on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Susquehanna upped their price objective on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Finally, Robert W. Baird lifted their target price on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $153.47.

RTX Price Performance

Shares of RTX opened at $120.96 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The firm has a market capitalization of $160.91 billion, a PE ratio of 47.44, a P/E/G ratio of 2.17 and a beta of 0.82. The stock has a 50 day simple moving average of $111.00 and a 200 day simple moving average of $103.80. RTX Co. has a 52-week low of $68.56 and a 52-week high of $123.70.

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, topping the consensus estimate of $1.30 by $0.11. The company had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.29 earnings per share. Sell-side analysts predict that RTX Co. will post 5.45 EPS for the current fiscal year.

RTX 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.