Dark Forest Capital Management LP Invests $248,000 in RTX Co. (NYSE:RTX)

Dark Forest Capital Management LP bought a new position in shares of RTX Co. (NYSE:RTX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,473 shares of the company’s stock, valued at approximately $248,000.

A number of other hedge funds have also modified their holdings of the business. Capital Research Global Investors grew its position in shares of RTX by 4.2% during the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after acquiring an additional 3,761,246 shares during the last quarter. Capital International Investors lifted its holdings in shares of RTX by 4.8% during the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after purchasing an additional 3,161,165 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of RTX by 2.0% during the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after purchasing an additional 213,331 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of RTX by 5.2% during the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after purchasing an additional 408,551 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of RTX by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock worth $747,347,000 after purchasing an additional 417,789 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other RTX news, EVP Dantaya M. Williams sold 17,570 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the transaction, the executive vice president now owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Dantaya M. Williams sold 17,570 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the transaction, the executive vice president now directly owns 38,855 shares in the company, valued at approximately $4,463,273.85. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of the business’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 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. Over the last 90 days, insiders have sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

RTX has been the subject of several recent research reports. Susquehanna increased 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. Wells Fargo & Company decreased their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and raised their target price for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada raised their target price on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $157.31.

RTX Stock Performance

RTX stock opened at $120.39 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $123.70. The stock has a fifty day moving average of $117.57 and a two-hundred day moving average of $107.53. The company has a market capitalization of $160.06 billion, a price-to-earnings ratio of 47.21, a PEG ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last released its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) 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 analyst estimates 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 period in the prior year, the firm earned $1.29 EPS. On average, analysts anticipate that RTX Co. will post 5.45 EPS for the current fiscal year.

About RTX

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.