ProVise Management Group LLC Increases Stake in RTX Co. (NYSE:RTX)

ProVise Management Group LLC increased its stake in shares of RTX Co. (NYSE:RTX) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 59,560 shares of the company’s stock after acquiring an additional 291 shares during the quarter. ProVise Management Group LLC’s holdings in RTX were worth $5,979,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of RTX. Capital Research Global Investors raised its position in RTX by 23.7% during the fourth quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after purchasing an additional 17,351,313 shares during the period. Capital International Investors boosted its stake in RTX by 20.6% during the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock worth $5,488,752,000 after buying an additional 11,163,222 shares during the period. Focused Investors Fund L P bought a new position in RTX during the first quarter valued at $80,594,000. Hsbc Holdings PLC raised its stake in shares of RTX by 47.9% in the second quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock valued at $246,300,000 after acquiring an additional 792,830 shares during the period. Finally, Sanders Capital LLC boosted its stake in shares of RTX by 6.8% during the 4th quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock worth $898,147,000 after purchasing an additional 677,520 shares during the period. 86.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Dantaya M. Williams sold 17,570 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the sale, the executive vice president now directly owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other RTX news, EVP Dantaya M. Williams sold 17,570 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the sale, the executive vice president now directly owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the transaction, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. The disclosure for this sale can be found here. In the last quarter, insiders have sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is owned by company insiders.

RTX Stock Down 0.6 %

NYSE:RTX opened at $118.03 on Thursday. The company’s 50 day moving average is $114.84 and its two-hundred day moving average is $105.89. The company has a market cap of $157.01 billion, a PE ratio of 46.29, a P/E/G ratio of 2.10 and a beta of 0.82. RTX Co. has a twelve month low of $68.56 and a twelve month high of $123.70. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last released its earnings results 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. The firm had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.29 EPS. Analysts anticipate that RTX Co. will post 5.45 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RTX. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. 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. Robert W. Baird upped their target price on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Susquehanna increased their price objective on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Finally, Bank of America raised RTX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $157.31.

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.