Cedar Wealth Management LLC Purchases 625 Shares of RTX Co. (NYSE:RTX)

Cedar Wealth Management LLC raised its position in shares of RTX Co. (NYSE:RTX) by 61.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,636 shares of the company’s stock after acquiring an additional 625 shares during the period. Cedar Wealth Management LLC’s holdings in RTX were worth $164,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Alpha Omega Wealth Management LLC increased its position in RTX by 0.6% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock valued at $1,518,000 after acquiring an additional 89 shares in the last quarter. Motco increased its holdings in shares of RTX by 7.2% in the first quarter. Motco now owns 1,475 shares of the company’s stock valued at $144,000 after purchasing an additional 99 shares in the last quarter. D Orazio & Associates Inc. boosted its position in RTX by 4.0% in the 2nd quarter. D Orazio & Associates Inc. now owns 2,602 shares of the company’s stock valued at $261,000 after buying an additional 99 shares during the last quarter. Enterprise Bank & Trust Co increased its stake in shares of RTX by 2.9% in the 2nd quarter. Enterprise Bank & Trust Co now owns 3,550 shares of the company’s stock valued at $356,000 after buying an additional 100 shares during the period. Finally, Werlinich Asset Management LLC raised its position in shares of RTX by 0.4% during the second quarter. Werlinich Asset Management LLC now owns 26,814 shares of the company’s stock worth $2,698,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Transactions at RTX

In related news, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the sale, the vice president now directly owns 12,318 shares in the company, valued at approximately $1,402,773.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the sale, the vice president now owns 12,318 shares of the company’s stock, valued at $1,402,773.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Gregory Hayes sold 134,887 shares of the firm’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 transaction, the chairman now directly 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 have sold 178,333 shares of company stock worth $20,861,880. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

RTX has been the subject of a number of research reports. Royal Bank of Canada lifted their price objective on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Robert W. Baird raised their price target on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Finally, Melius Research boosted their price objective on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $157.31.

RTX Price Performance

Shares of NYSE RTX opened at $118.84 on Friday. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $123.70. The stock has a market capitalization of $158.09 billion, a price-to-earnings ratio of 46.60, a PEG ratio of 2.10 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The business has a 50-day moving average of $115.19 and a 200-day moving average of $105.97.

RTX (NYSE:RTX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping 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 company had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. During the same quarter in the prior year, the business posted $1.29 EPS. The business’s revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that RTX Co. will post 5.45 earnings per share for the current fiscal year.

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.