RTX Co. (NYSE:RTX) Shares Sold by Advisory Alpha LLC

Advisory Alpha LLC cut its stake in RTX Co. (NYSE:RTX) by 54.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,059 shares of the company’s stock after selling 4,933 shares during the period. Advisory Alpha LLC’s holdings in RTX were worth $407,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in RTX. Eagle Asset Management Inc. grew its position in RTX by 3.5% in the 4th quarter. Eagle Asset Management Inc. now owns 56,401 shares of the company’s stock worth $4,746,000 after purchasing an additional 1,909 shares during the last quarter. KBC Group NV boosted its position in shares of RTX by 7.5% during the fourth quarter. KBC Group NV now owns 98,099 shares of the company’s stock worth $8,254,000 after buying an additional 6,851 shares during the period. Belpointe Asset Management LLC grew its holdings in RTX by 47.0% in the 4th quarter. Belpointe Asset Management LLC now owns 13,413 shares of the company’s stock worth $1,129,000 after buying an additional 4,286 shares in the last quarter. First Trust Advisors LP grew its holdings in RTX by 9.3% in the 4th quarter. First Trust Advisors LP now owns 1,228,332 shares of the company’s stock worth $103,352,000 after buying an additional 104,783 shares in the last quarter. Finally, Lake Street Advisors Group LLC bought a new position in RTX in the 4th quarter worth approximately $562,000. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Performance

RTX opened at $124.38 on Wednesday. The firm has a market cap of $165.36 billion, a PE ratio of 48.78, a P/E/G ratio of 2.12 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. The business has a fifty day simple moving average of $118.30 and a 200-day simple moving average of $107.96. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $124.59.

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

Insider Activity

In other news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction 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 in the company, valued at $66,725,966.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction 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 in the company, valued at $66,725,966.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock worth $20,861,880 over the last quarter. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

RTX has been the subject of a number of recent analyst reports. Royal Bank of Canada increased their price objective on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. TD Cowen increased their price objective on RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. increased their price objective on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company decreased their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $157.31.

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.