Anchor Investment Management LLC Lowers Holdings in RTX Co. (NYSE:RTX)

Anchor Investment Management LLC trimmed its position in RTX Co. (NYSE:RTX) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,074 shares of the company’s stock after selling 343 shares during the quarter. Anchor Investment Management LLC’s holdings in RTX were worth $1,513,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. RFG Advisory LLC lifted its stake in shares of RTX by 96.1% during the 1st quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock worth $3,936,000 after purchasing an additional 19,779 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of RTX during the 2nd quarter worth $30,837,000. Capital Advisors Ltd. LLC lifted its stake in shares of RTX by 7.3% during the 1st quarter. Capital Advisors Ltd. LLC now owns 2,451 shares of the company’s stock worth $239,000 after purchasing an additional 166 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of RTX by 126.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock worth $17,134,000 after purchasing an additional 98,248 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of RTX by 7.2% during the 1st quarter. CWM LLC now owns 126,970 shares of the company’s stock worth $12,383,000 after purchasing an additional 8,493 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on RTX shares. Robert W. Baird upped their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. TD Cowen upped their target price on RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and upped their target price for the company from $109.00 to $129.00 in a research report on Thursday. Susquehanna upped their target price on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Company reduced their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, RTX presently has an average rating of “Hold” and an average price target of $161.13.

RTX Stock Down 0.3 %

Shares of RTX stock opened at $123.67 on Friday. The stock’s 50-day simple moving average is $118.69 and its 200-day simple moving average is $108.07. 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 has a market capitalization of $164.42 billion, a PE ratio of 48.50, a P/E/G ratio of 2.12 and a beta of 0.82. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $125.53.

RTX (NYSE:RTX) last posted its earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.30 by $0.11. The firm had revenue of $19.72 billion for 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%. RTX’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $1.29 earnings per share. Equities analysts expect that RTX Co. will post 5.45 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated 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 sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated 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 sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the transaction, 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 a total of 178,333 shares of company stock valued at $20,861,880 over the last ninety days. Company insiders own 0.13% of the company’s stock.

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.