Lazari Capital Management Inc. Has $603,000 Stake in RTX Co. (NYSE:RTX)

Lazari Capital Management Inc. increased its position in RTX Co. (NYSE:RTX) by 1.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,009 shares of the company’s stock after acquiring an additional 95 shares during the quarter. Lazari Capital Management Inc.’s holdings in RTX were worth $603,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 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 buying an additional 100 shares during the period. Lynx Investment Advisory bought a new stake in RTX in the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. bought a new position in shares of RTX during the 2nd quarter worth approximately $32,000. Fairman Group LLC bought a new stake in shares of RTX in the 4th quarter valued at $38,000. Finally, Beaird Harris Wealth Management LLC lifted its position in shares of 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 acquiring an additional 139 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Transactions at RTX

In other news, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at approximately $10,090,026. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at $10,090,026. The disclosure for this sale can be found here. In the last ninety days, insiders sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is currently owned by insiders.

RTX Price Performance

Shares of NYSE:RTX opened at $124.38 on Wednesday. The company has a 50 day moving average of $118.30 and a 200 day moving average of $107.96. The stock has a market cap of $165.36 billion, a P/E ratio of 48.78, a P/E/G ratio of 2.12 and a beta of 0.82. RTX Co. has a 12 month low of $68.56 and a 12 month high of $124.59. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last announced 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. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same period in the previous year, the business posted $1.29 earnings per share. RTX’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, sell-side analysts forecast that RTX Co. will post 5.45 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on RTX. 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 report on Tuesday, July 30th. The Goldman Sachs Group raised their price target on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Susquehanna raised their price target on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their price target for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Finally, Royal Bank of Canada raised their price objective on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.