Point72 Hong Kong Ltd Invests $4.53 Million in RTX Co. (NYSE:RTX)

Point72 Hong Kong Ltd purchased a new position in shares of RTX Co. (NYSE:RTX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 45,132 shares of the company’s stock, valued at approximately $4,531,000.

A number of other hedge funds have also bought and sold shares of RTX. Capital Research Global Investors lifted its holdings in RTX by 23.7% during the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock worth $7,608,822,000 after buying an additional 17,351,313 shares during the last quarter. Capital International Investors raised its position in shares of RTX by 20.6% during the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after acquiring an additional 11,163,222 shares in the last quarter. Marshall Wace LLP lifted its stake in RTX by 1,247.1% during the second quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock worth $206,172,000 after purchasing an additional 1,901,256 shares during the last quarter. Focused Investors Fund L P acquired a new position in RTX in the first quarter worth $80,594,000. Finally, Hsbc Holdings PLC increased its stake in RTX by 47.9% during the second quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock valued at $246,300,000 after purchasing an additional 792,830 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at RTX

In related news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was 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 owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Christopher T. Calio sold 4,235 shares of the business’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 value of $482,790.00. Following the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at approximately $10,090,026. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the firm’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 transaction of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,333 shares of company stock valued at $20,861,880. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RTX. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research report on Tuesday, July 30th. Susquehanna raised their target price on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a report on Friday, July 26th. TD Cowen upped their target price on RTX from $115.00 to $142.00 and gave the company a “buy” rating in a report on Friday, July 26th. Royal Bank of Canada increased 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. Finally, Robert W. Baird boosted 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. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $157.31.

RTX Stock Performance

Shares of RTX opened at $120.05 on Wednesday. RTX Co. has a 52-week low of $68.56 and a 52-week high of $123.70. The firm has a market capitalization of $159.70 billion, a PE ratio of 47.08, a P/E/G ratio of 2.12 and a beta of 0.82. The firm has a 50-day moving average price of $116.57 and a 200 day moving average price of $106.90. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The business 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 revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the business earned $1.29 earnings per share. On average, sell-side analysts anticipate that RTX Co. will post 5.45 earnings per share for the current fiscal year.

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.