Waters Parkerson & CO. LLC Reduces Position in RTX Co. (NYSE:RTX)

Waters Parkerson & CO. LLC decreased its position in RTX Co. (NYSE:RTX) by 1.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,321 shares of the company’s stock after selling 565 shares during the period. Waters Parkerson & CO. LLC’s holdings in RTX were worth $2,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RTX. RFG Advisory LLC boosted its position in RTX by 96.1% in the first quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after buying an additional 19,779 shares during the last quarter. TCW Group Inc. purchased a new stake in shares of RTX in the 4th quarter valued at $1,912,000. Robinson Smith Wealth Advisors LLC acquired a new stake in shares of RTX in the fourth quarter worth $672,000. Gryphon Financial Partners LLC purchased a new position in shares of RTX during the fourth quarter worth $474,000. Finally, Edge Capital Group LLC lifted its position in RTX by 37.7% during the fourth quarter. Edge Capital Group LLC now owns 188,929 shares of the company’s stock valued at $15,896,000 after purchasing an additional 51,735 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Activity

In related news, EVP Dantaya M. Williams sold 17,570 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the transaction, the executive vice president now directly owns 38,855 shares in the company, valued at $4,463,273.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 17,570 shares of RTX stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.87, for a total value of $2,018,265.90. Following the transaction, the executive vice president now owns 38,855 shares in the company, valued at approximately $4,463,273.85. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock worth $20,861,880 over the last three months. Insiders own 0.13% of the company’s stock.

RTX Trading Up 0.7 %

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

RTX (NYSE:RTX) last issued its quarterly earnings results 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 firm had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. During the same period in the previous year, the company posted $1.29 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts anticipate that RTX Co. will post 5.45 EPS for the current fiscal year.

Analyst Ratings Changes

RTX has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price target on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Royal Bank of Canada lifted their price target on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. The Goldman Sachs Group boosted their price target on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Finally, Susquehanna boosted their target price on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $157.31.

About RTX

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.