1832 Asset Management L.P. Lowers Holdings in RTX Co. (NYSE:RTX)

1832 Asset Management L.P. reduced its stake in shares of RTX Co. (NYSE:RTX) by 2.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 101,402 shares of the company’s stock after selling 2,373 shares during the quarter. 1832 Asset Management L.P.’s holdings in RTX were worth $10,180,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Briaud Financial Planning Inc increased its holdings in shares of RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new position in RTX in the second quarter valued at $26,000. Mizuho Securities Co. Ltd. acquired a new position in shares of RTX in the second quarter worth about $32,000. Fairman Group LLC acquired a new position in shares of RTX in the fourth quarter worth about $38,000. Finally, Beaird Harris Wealth Management LLC boosted its stake in shares of RTX by 42.2% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock worth $39,000 after acquiring an additional 139 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Trading Up 1.8 %

Shares of RTX stock opened at $120.27 on Tuesday. RTX Co. has a 1-year low of $68.56 and a 1-year high of $123.70. The firm has a market cap of $159.90 billion, a PE ratio of 47.16, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. The company has a 50-day moving average of $116.24 and a two-hundred day moving average of $106.69. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $1.29 EPS. On average, analysts predict that RTX Co. will post 5.45 EPS for the current year.

Insider Activity

In related news, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the transaction, the chief executive officer now owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the sale, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RTX shares. The Goldman Sachs Group upped their price target on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Royal Bank of Canada increased their target price on RTX from $102.00 to $115.00 and gave the company 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 boosted their price target for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. TD Cowen increased their price objective on shares of RTX from $115.00 to $142.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company decreased their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, RTX currently has an average rating of “Hold” and a consensus target price 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.