Northwestern Mutual Wealth Management Co. Has $58.80 Million Stock Holdings in RTX Co. (NYSE:RTX)

Northwestern Mutual Wealth Management Co. cut its holdings in shares of RTX Co. (NYSE:RTX) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 585,759 shares of the company’s stock after selling 3,783 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in RTX were worth $58,804,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in RTX. Capital Research Global Investors lifted its position in shares of RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after purchasing an additional 3,761,246 shares during the period. Capital International Investors increased its stake in shares of RTX by 4.8% in the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after acquiring an additional 3,161,165 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of RTX by 2.0% in the 1st quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after acquiring an additional 213,331 shares in the last quarter. Legal & General Group Plc increased its stake in shares of RTX by 4.4% in the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after acquiring an additional 362,340 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of RTX by 5.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after acquiring an additional 408,551 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Price Performance

NYSE RTX opened at $120.39 on Monday. The firm’s 50-day simple moving average is $117.57 and its two-hundred day simple moving average is $107.53. RTX Co. has a 52 week low of $68.56 and a 52 week high of $123.70. 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. 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 issued its quarterly earnings results 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 analysts’ expectations of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $1.29 earnings per share. Research analysts predict that RTX Co. will post 5.45 earnings per share for the current year.

Insider Activity

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Dantaya M. Williams sold 17,570 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.87, for a total value of $2,018,265.90. Following the completion of the transaction, the executive vice president now directly owns 38,855 shares in the company, valued at $4,463,273.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RTX. The Goldman Sachs Group lifted their price objective on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. TD Cowen boosted their price target on shares of RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. boosted their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a research note on Tuesday, July 30th. Finally, Robert W. Baird boosted their price target on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company 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.