IMS Capital Management Buys Shares of 1,830 RTX Co. (NYSE:RTX)

IMS Capital Management purchased a new stake in RTX Co. (NYSE:RTX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,830 shares of the company’s stock, valued at approximately $184,000.

Other institutional investors have also recently made changes to their positions in the company. Briaud Financial Planning Inc raised its stake in RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the period. Lynx Investment Advisory bought a new position in shares of RTX during the 2nd quarter worth $26,000. Mizuho Securities Co. Ltd. purchased a new stake in RTX during the second quarter valued at about $32,000. Fairman Group LLC bought a new position in shares of RTX in the fourth quarter worth $38,000. Finally, Beaird Harris Wealth Management LLC increased its position in shares of RTX by 42.2% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock valued at $39,000 after buying an additional 139 shares during the period. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

RTX stock opened at $121.14 on Tuesday. RTX Co. has a 1-year low of $68.56 and a 1-year high of $123.70. The company’s 50-day moving average is $117.91 and its 200 day moving average is $107.74. The firm has a market capitalization of $161.15 billion, a P/E ratio of 47.51, a price-to-earnings-growth ratio of 2.12 and a beta of 0.82. 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 released its quarterly earnings data on Thursday, July 25th. The company reported $1.41 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 company had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. During the same period last year, the business posted $1.29 EPS. RTX’s quarterly revenue was up 7.7% on a year-over-year basis. Research analysts forecast that RTX Co. will post 5.45 EPS for the current year.

Insider Activity at RTX

In other RTX news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction on Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the transaction, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at $10,090,026. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other RTX news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the transaction, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kevin G. Dasilva sold 8,166 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 45,208 shares of the company’s stock, valued at $5,197,111.68. 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 over the last quarter. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RTX. JPMorgan Chase & Co. raised their target price 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. The Goldman Sachs Group raised their price target on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Susquehanna raised their target price on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Robert W. Baird upped their price target on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Company cut their price target on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, RTX has an average rating of “Hold” and a consensus price target 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.