Duff & Phelps Investment Management Co. Has $306,000 Stock Position in RTX Co. (NYSE:RTX)

Duff & Phelps Investment Management Co. lessened its holdings in shares of RTX Co. (NYSE:RTX) by 81.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,044 shares of the company’s stock after selling 13,290 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in RTX were worth $306,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RTX. RFG Advisory LLC grew its position in shares of RTX by 96.1% in the 1st quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after purchasing an additional 19,779 shares during the period. Gryphon Financial Partners LLC acquired a new stake in shares of RTX during the fourth quarter worth $474,000. Edge Capital Group LLC lifted its position 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 in the last quarter. Rafferty Asset Management LLC boosted its stake in RTX by 7.0% in the 4th quarter. Rafferty Asset Management LLC now owns 360,036 shares of the company’s stock worth $30,293,000 after purchasing an additional 23,662 shares during the period. Finally, Manning & Napier Advisors LLC bought a new position in RTX during the 2nd quarter worth about $30,837,000. 86.50% of the stock is currently owned by institutional investors.

RTX Price Performance

Shares of RTX opened at $120.39 on Monday. The company’s 50-day moving average is $117.57 and its 200-day moving average is $107.53. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The firm has a market capitalization of $160.06 billion, a PE ratio of 47.21, a PEG ratio of 2.11 and a beta of 0.82. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $123.70.

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

Insider Buying and Selling at RTX

In other news, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at $10,090,026. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other RTX news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the sale, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the 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 transaction, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. 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 in the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RTX shares. Robert W. Baird increased their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. TD Cowen lifted 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. Susquehanna raised their target price on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research report on Friday, July 26th. The Goldman Sachs Group boosted their price target on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a research report on Tuesday, July 30th. 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 MarketBeat, RTX currently has an average rating of “Hold” and an average target price of $157.31.

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.