Sprucegrove Investment Management Ltd. Increases Position in RTX Co. (NYSE:RTX)

Sprucegrove Investment Management Ltd. increased its stake in RTX Co. (NYSE:RTX) by 1.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 218,023 shares of the company’s stock after purchasing an additional 3,100 shares during the quarter. RTX accounts for 1.1% of Sprucegrove Investment Management Ltd.’s investment portfolio, making the stock its 17th largest position. Sprucegrove Investment Management Ltd.’s holdings in RTX were worth $21,887,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in RTX. Briaud Financial Planning Inc boosted its stake in shares of RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the last quarter. Lynx Investment Advisory acquired a new stake in shares of RTX during the second quarter valued at $26,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of RTX during the second quarter valued at $32,000. Fairman Group LLC acquired a new stake in shares of RTX during the fourth quarter valued at $38,000. Finally, Beaird Harris Wealth Management LLC boosted its stake in shares of RTX by 42.2% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock valued at $39,000 after acquiring an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on RTX. Wells Fargo & Company decreased their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Robert W. Baird increased their target price on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Melius Research increased their target price on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Susquehanna increased their target price on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada increased their target price on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $157.31.

RTX Stock Performance

Shares of RTX stock opened at $118.84 on Friday. The company’s fifty day simple moving average is $115.19 and its 200-day simple moving average is $105.97. RTX Co. has a 52 week low of $68.56 and a 52 week 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. The company has a market cap of $158.09 billion, a PE ratio of 46.60, a P/E/G ratio of 2.10 and a beta of 0.82.

RTX (NYSE:RTX) last issued its earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. During the same quarter last year, the firm posted $1.29 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, equities research analysts anticipate that RTX Co. will post 5.45 EPS for the current year.

Insider Buying and Selling

In related news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction 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 SEC, which is available at the SEC website. In related news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction 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 SEC, which is available at the SEC website. Also, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.96, for a total transaction of $938,763.36. Following the sale, the vice president now directly owns 45,208 shares in the company, valued at approximately $5,197,111.68. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock valued at $20,861,880 in the last quarter. 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.