RTX Co. (NYSE:RTX) Shares Purchased by Abacus Planning Group Inc.

Abacus Planning Group Inc. lifted its holdings in RTX Co. (NYSE:RTX) by 7.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,986 shares of the company’s stock after buying an additional 215 shares during the quarter. Abacus Planning Group Inc.’s holdings in RTX were worth $362,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the transaction, the vice president now directly owns 12,318 shares of the company’s stock, valued at $1,402,773.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction dated 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 transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the sale, the vice president now owns 12,318 shares in the company, valued at approximately $1,402,773.84. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock valued at $20,861,880 over the last quarter. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of analyst reports. Royal Bank of Canada lifted 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. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research note on Tuesday, July 30th. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. lifted their target price on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, TD Cowen increased their price target on RTX from $115.00 to $142.00 and gave the company a “buy” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $157.31.

RTX Stock Performance

RTX stock opened at $124.04 on Thursday. The stock’s 50 day simple moving average is $118.69 and its 200 day simple moving average is $108.07. RTX Co. has a 12-month low of $68.56 and a 12-month high of $125.53. The firm has a market cap of $164.91 billion, a P/E ratio of 48.64, a P/E/G ratio of 2.12 and a beta of 0.82. 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 issued its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. During the same period in the prior year, the company earned $1.29 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, equities research analysts predict that RTX Co. will post 5.45 EPS for the current year.

RTX Company 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.