Federated Hermes Inc. Increases Position in RTX Co. (NYSE:RTX)

Federated Hermes Inc. increased its stake in shares of RTX Co. (NYSE:RTX) by 36.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,613 shares of the company’s stock after buying an additional 2,552 shares during the period. Federated Hermes Inc.’s holdings in RTX were worth $965,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gryphon Financial Partners LLC purchased a new stake in RTX during the fourth quarter worth $474,000. TrinityPoint Wealth LLC increased its holdings in RTX by 8.1% during the 4th quarter. TrinityPoint Wealth LLC now owns 37,374 shares of the company’s stock valued at $3,145,000 after acquiring an additional 2,790 shares in the last quarter. SageView Advisory Group LLC acquired a new position in RTX during the fourth quarter worth about $1,485,000. TCW Group Inc. purchased a new stake in shares of RTX in the fourth quarter valued at about $1,912,000. Finally, Orion Portfolio Solutions LLC grew its position in shares of RTX by 69.4% in the fourth quarter. Orion Portfolio Solutions LLC now owns 151,343 shares of the company’s stock valued at $12,991,000 after purchasing an additional 62,000 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Bank of America raised RTX from a “neutral” rating to a “buy” rating and upped their target price for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Robert W. Baird upped their price objective on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. lifted their price objective on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Melius Research upped their target price on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Finally, Royal Bank of Canada boosted their price objective on shares of RTX from $102.00 to $115.00 and gave the company 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 given a buy rating to the company’s stock. According to MarketBeat.com, RTX presently has a consensus rating of “Hold” and a consensus price target of $157.31.

RTX Price Performance

RTX stock opened at $118.15 on Friday. The firm has a market cap of $157.17 billion, a P/E ratio of 46.33, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a 1 year low of $68.56 and a 1 year high of $123.70. The stock has a 50-day simple moving average of $115.87 and a 200-day simple moving average of $106.37.

RTX (NYSE:RTX) last posted its quarterly earnings data 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. The company had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.29 earnings per share. On average, equities analysts predict that RTX Co. will post 5.45 earnings per share for the current fiscal year.

Insider Buying and Selling at RTX

In other news, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction dated 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 of the company’s stock, valued at $5,197,111.68. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the transaction, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock valued at $20,861,880 in the last ninety days. Insiders own 0.13% of the company’s stock.

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.