Gateway Wealth Partners LLC Increases Holdings in RTX Co. (NYSE:RTX)

Gateway Wealth Partners LLC increased its stake in shares of RTX Co. (NYSE:RTX) by 7.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,558 shares of the company’s stock after purchasing an additional 319 shares during the period. Gateway Wealth Partners LLC’s holdings in RTX were worth $458,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Capital Research Global Investors lifted its holdings in RTX by 4.2% during 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 in the last quarter. Capital International Investors lifted its holdings in RTX by 4.8% during the 1st 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 in the last quarter. Clearbridge Investments LLC lifted its holdings in RTX by 2.0% during the 1st 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 in the last quarter. Legal & General Group Plc lifted its holdings in RTX by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after purchasing an additional 362,340 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in RTX by 5.2% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RTX. Melius Research increased their price objective on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Wells Fargo & Company lowered their price target 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 raised 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. Robert W. Baird raised their price target on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $157.31.

RTX Price Performance

Shares of RTX stock opened at $121.14 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $161.15 billion, a PE ratio of 47.51, a price-to-earnings-growth ratio of 2.12 and a beta of 0.82. The business’s 50-day moving average price is $117.91 and its 200-day moving average price is $107.74. RTX Co. has a 12 month low of $68.56 and a 12 month high of $123.70.

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

Insider Buying and Selling

In related news, 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 transaction, 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 SEC, which is available through this hyperlink. In other RTX news, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 value 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 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 worth $20,861,880 in the last ninety days. 0.13% of the stock is owned by insiders.

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.