J. Stern & Co. LLP Invests $30.05 Million in RTX Co. (NYSE:RTX)

J. Stern & Co. LLP purchased a new stake in RTX Co. (NYSE:RTX) during the second quarter, HoldingsChannel.com reports. The firm purchased 299,322 shares of the company’s stock, valued at approximately $30,049,000. RTX makes up approximately 3.6% of J. Stern & Co. LLP’s investment portfolio, making the stock its 16th biggest holding.

Other large investors have also recently bought and sold shares of the company. RFG Advisory LLC grew its holdings in shares of RTX by 96.1% in the 1st quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock worth $3,936,000 after acquiring an additional 19,779 shares during the period. TCW Group Inc. purchased a new position in shares of RTX in the fourth quarter valued at $1,912,000. Robinson Smith Wealth Advisors LLC acquired a new position in shares of RTX during the 4th quarter worth $672,000. Gryphon Financial Partners LLC purchased a new stake in shares of RTX in the 4th quarter worth about $474,000. Finally, Edge Capital Group LLC grew its stake in RTX by 37.7% in the 4th quarter. Edge Capital Group LLC now owns 188,929 shares of the company’s stock valued at $15,896,000 after acquiring an additional 51,735 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Down 0.6 %

RTX stock opened at $118.15 on Monday. RTX Co. has a 52 week low of $68.56 and a 52 week high of $123.70. The company has a market cap of $157.17 billion, a price-to-earnings ratio of 46.33, a PEG ratio of 2.10 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The business has a fifty day simple moving average of $115.87 and a 200-day simple moving average of $106.48.

RTX (NYSE:RTX) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.41 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 the consensus estimate of $19.29 billion. During the same period last year, the business posted $1.29 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts expect that RTX Co. will post 5.45 EPS for the current year.

Insider Buying and Selling at RTX

In other news, insider Shane G. Eddy sold 6,741 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Shane G. Eddy sold 6,741 shares of the company’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kevin G. Dasilva sold 8,166 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.96, for a total value of $938,763.36. Following the completion of the transaction, the vice president now directly owns 45,208 shares in the company, valued at $5,197,111.68. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock valued at $20,861,880 over the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and increased their target price for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. Susquehanna boosted their price target on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Melius Research increased their price objective on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Finally, The Goldman Sachs Group boosted their target price on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $157.31.

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.