Edgestream Partners L.P. Grows Stake in RTX Co. (NYSE:RTX)

Edgestream Partners L.P. lifted its stake in RTX Co. (NYSE:RTX) by 140.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,022 shares of the company’s stock after purchasing an additional 4,686 shares during the period. Edgestream Partners L.P.’s holdings in RTX were worth $805,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. One Capital Management LLC raised its position in shares of RTX by 115.7% in the 2nd quarter. One Capital Management LLC now owns 6,768 shares of the company’s stock worth $679,000 after acquiring an additional 3,631 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its holdings in RTX by 0.3% in the second quarter. Mesirow Financial Investment Management Inc. now owns 298,320 shares of the company’s stock worth $29,954,000 after purchasing an additional 831 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in RTX by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock valued at $747,347,000 after buying an additional 417,789 shares during the period. Black Diamond Financial LLC bought a new stake in shares of RTX during the 2nd quarter valued at $283,000. Finally, Fairfield Financial Advisors LTD bought a new position in shares of RTX in the 2nd quarter worth about $41,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling

In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.96, for a total value of $938,763.36. Following the transaction, the vice president now directly owns 45,208 shares in the company, valued at $5,197,111.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Kevin G. Dasilva sold 8,166 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.96, for a total value of $938,763.36. Following the completion of 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 at the SEC website. Also, 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 value of $773,597.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RTX has been the topic of several research reports. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. The Goldman Sachs Group lifted their price objective on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. TD Cowen increased their target price on RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada lifted their price target 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 equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, RTX currently has an average rating of “Hold” and a consensus price target of $157.31.

RTX Price Performance

Shares of RTX opened at $118.15 on Friday. The firm has a fifty day simple moving average of $115.87 and a two-hundred day simple moving average of $106.37. The firm has a market cap of $157.17 billion, a PE ratio of 46.33, a P/E/G ratio of 2.10 and a beta of 0.82. 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 1-year low of $68.56 and a 1-year high of $123.70.

RTX (NYSE:RTX) last posted its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share 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 the consensus estimate of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. RTX’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 earnings per share. On average, equities analysts anticipate that RTX Co. will post 5.45 EPS for the current year.

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.