RTX Corporation $RTX Shares Purchased by Advantage Trust Co

Advantage Trust Co increased its holdings in shares of RTX Corporation (NYSE:RTX) by 11.1% in the second quarter, Holdings Channel reports. The firm owned 2,847 shares of the company’s stock after buying an additional 284 shares during the period. Advantage Trust Co’s holdings in RTX were worth $416,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RTX. Bay Capital Advisors LLC acquired a new position in RTX in the 1st quarter valued at about $224,000. Brookwood Investment Group LLC acquired a new position in RTX in the 1st quarter valued at about $1,288,000. LBP AM SA grew its position in RTX by 17.7% in the 1st quarter. LBP AM SA now owns 279,179 shares of the company’s stock valued at $36,980,000 after acquiring an additional 41,990 shares in the last quarter. Arizona State Retirement System grew its position in RTX by 1.4% in the 1st quarter. Arizona State Retirement System now owns 390,617 shares of the company’s stock valued at $51,741,000 after acquiring an additional 5,356 shares in the last quarter. Finally, Redwood Financial Network Corp acquired a new position in RTX in the 1st quarter valued at about $243,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on RTX. JPMorgan Chase & Co. lifted their target price on RTX from $145.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. The Goldman Sachs Group lifted their price objective on RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a research note on Monday, June 23rd. Morgan Stanley lifted their price objective on RTX from $165.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Citigroup lifted their price objective on RTX from $148.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of RTX in a research note on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $164.13.

Insider Activity at RTX

In other RTX news, insider Shane G. Eddy sold 25,968 shares of RTX stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $159.79, for a total transaction of $4,149,426.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Troy D. Brunk sold 7,654 shares of RTX stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total value of $1,187,900.80. Following the transaction, the insider directly owned 16,442 shares in the company, valued at approximately $2,551,798.40. This trade represents a 31.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,635 shares of company stock valued at $8,947,010 over the last 90 days. 0.15% of the stock is owned by insiders.

RTX Price Performance

RTX stock opened at $160.63 on Tuesday. The business has a 50 day moving average price of $159.31 and a 200 day moving average price of $146.31. The stock has a market cap of $215.02 billion, a price-to-earnings ratio of 35.30, a PEG ratio of 2.93 and a beta of 0.66. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $170.85. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.11. The firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%.The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.41 earnings per share. Equities research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal 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.