Cowa LLC Sells 2,416 Shares of RTX Co. (NYSE:RTX)

Cowa LLC cut its holdings in RTX Co. (NYSE:RTX) by 35.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,433 shares of the company’s stock after selling 2,416 shares during the quarter. Cowa LLC’s holdings in RTX were worth $445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Gryphon Financial Partners LLC purchased a new stake in RTX in the fourth quarter worth $474,000. TrinityPoint Wealth LLC lifted its position in shares of RTX by 8.1% in the 4th quarter. TrinityPoint Wealth LLC now owns 37,374 shares of the company’s stock worth $3,145,000 after purchasing an additional 2,790 shares during the period. Assetmark Inc. boosted its stake in shares of RTX by 2.0% during the 4th quarter. Assetmark Inc. now owns 112,525 shares of the company’s stock valued at $9,468,000 after purchasing an additional 2,217 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of RTX by 19.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 7,450 shares of the company’s stock valued at $627,000 after buying an additional 1,212 shares during the period. Finally, InterOcean Capital Group LLC increased its position in shares of RTX by 4.7% during the fourth quarter. InterOcean Capital Group LLC now owns 10,215 shares of the company’s stock valued at $859,000 after buying an additional 463 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

RTX stock opened at $118.84 on Friday. The stock’s 50 day simple moving average is $115.19 and its 200 day simple moving average is $105.97. 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 Co. has a 12-month low of $68.56 and a 12-month high of $123.70. The stock has a market capitalization of $158.09 billion, a PE ratio of 46.60, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings results 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. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. During the same period in the prior year, the company posted $1.29 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, research analysts forecast that RTX Co. will post 5.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RTX has been the topic of several research reports. Royal Bank of Canada lifted their price objective on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Robert W. Baird increased their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Bank of America upgraded 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 report on Wednesday, July 31st. 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 note on Monday, July 29th. Finally, Melius Research boosted their price objective on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. 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 MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $157.31.

Insider Buying and Selling at RTX

In other news, 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 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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 directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Shane G. Eddy sold 6,741 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,333 shares of company stock worth $20,861,880. Company insiders own 0.13% of the company’s stock.

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.