Northeast Financial Consultants Inc Reduces Stock Position in RTX Co. (NYSE:RTX)

Northeast Financial Consultants Inc trimmed its stake in shares of RTX Co. (NYSE:RTX) by 0.7% in the 2nd quarter, Holdings Channel reports. The firm owned 14,008 shares of the company’s stock after selling 100 shares during the period. Northeast Financial Consultants Inc’s holdings in RTX were worth $1,406,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital Research Global Investors grew its holdings in shares of RTX by 23.7% in the fourth quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock worth $7,608,822,000 after acquiring an additional 17,351,313 shares during the period. Capital International Investors grew its stake 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 purchasing an additional 11,163,222 shares during the period. Marshall Wace LLP increased its position in shares of RTX by 1,247.1% during the 2nd quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock valued at $206,172,000 after purchasing an additional 1,901,256 shares during the last quarter. Focused Investors Fund L P bought a new position in shares of RTX in the 1st quarter worth approximately $80,594,000. Finally, Hsbc Holdings PLC boosted its holdings in shares of RTX by 47.9% in the second quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock worth $246,300,000 after buying an additional 792,830 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of the 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 sale, the vice president now owns 45,208 shares in the company, valued at $5,197,111.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Kevin G. Dasilva sold 8,166 shares of the firm’s stock in a transaction 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 owns 45,208 shares in the company, valued at approximately $5,197,111.68. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock worth $20,861,880 in the last quarter. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Susquehanna increased their price target on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. 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 report on Wednesday, July 24th. The Goldman Sachs Group boosted their price target on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. TD Cowen raised their price objective on RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a research note 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 note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, RTX currently has a consensus rating of “Hold” and a consensus target price of $157.31.

RTX Trading Up 0.1 %

Shares of RTX stock opened at $120.39 on Friday. The company has a market cap of $160.06 billion, a PE ratio of 47.21, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. RTX Co. has a 1 year low of $68.56 and a 1 year high of $123.70. The stock’s 50 day simple moving average is $117.57 and its two-hundred day simple moving average is $107.41. 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 announced its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.11. The business had revenue of $19.72 billion for the quarter, compared to the consensus estimate 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 in the prior year, the firm posted $1.29 earnings per share. Research analysts predict that RTX Co. will post 5.45 earnings per share 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.