Ariadne Wealth Management LP Invests $4.53 Million in RTX Co. (NYSE:RTX)

Ariadne Wealth Management LP acquired a new position in RTX Co. (NYSE:RTX) during the second quarter, Holdings Channel.com reports. The firm acquired 45,164 shares of the company’s stock, valued at approximately $4,534,000. RTX makes up approximately 2.5% of Ariadne Wealth Management LP’s portfolio, making the stock its 9th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in RTX. Briaud Financial Planning Inc increased its stake in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares during the period. Lynx Investment Advisory acquired a new stake in shares of RTX during the 2nd quarter valued at about $26,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of RTX in the second quarter worth about $32,000. Fairman Group LLC acquired a new stake in shares of RTX in the fourth quarter valued at about $38,000. Finally, Beaird Harris Wealth Management LLC raised its stake in RTX by 42.2% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock valued at $39,000 after purchasing an additional 139 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RTX has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Royal Bank of Canada increased their price target on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Robert W. Baird lifted their target price on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company cut their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Two 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $157.31.

RTX Price Performance

Shares of RTX opened at $121.14 on Tuesday. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $123.70. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The firm’s 50-day simple moving average is $117.91 and its two-hundred day simple moving average is $107.74. The stock has a market cap 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.

RTX (NYSE:RTX) last posted its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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 revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.29 EPS. Analysts anticipate that RTX Co. will post 5.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Gregory Hayes sold 134,887 shares of the business’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 owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Dantaya M. Williams sold 17,570 shares of the company’s 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 owns 38,855 shares in the company, valued at $4,463,273.85. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock worth $20,861,880 over the last three months. 0.13% of the stock is currently owned by company 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.