RTX Corporation $RTX Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. reduced its stake in shares of RTX Corporation (NYSE:RTX) by 1.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 69,832 shares of the company’s stock after selling 735 shares during the period. Securian Asset Management Inc.’s holdings in RTX were worth $10,197,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pittenger & Anderson Inc. grew its position in RTX by 2.1% during the 2nd quarter. Pittenger & Anderson Inc. now owns 48,267 shares of the company’s stock worth $7,048,000 after purchasing an additional 1,005 shares during the period. Phoenix Financial Ltd. grew its position in RTX by 112.0% during the 2nd quarter. Phoenix Financial Ltd. now owns 7,609 shares of the company’s stock worth $1,110,000 after purchasing an additional 4,020 shares during the period. Avidian Wealth Enterprises LLC grew its position in RTX by 2.8% during the 2nd quarter. Avidian Wealth Enterprises LLC now owns 11,650 shares of the company’s stock worth $1,701,000 after purchasing an additional 320 shares during the period. Drive Wealth Management LLC grew its position in RTX by 2.9% during the 2nd quarter. Drive Wealth Management LLC now owns 5,319 shares of the company’s stock worth $777,000 after purchasing an additional 151 shares during the period. Finally, Canvas Wealth Advisors LLC acquired a new stake in RTX during the 2nd quarter worth about $254,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RTX has been the topic of several analyst reports. Bank of America increased their price target on RTX from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Susquehanna raised their price target on shares of RTX from $160.00 to $175.00 and gave the company a “positive” rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $170.00 price target (up from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. raised their target price on shares of RTX from $145.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Finally, Barclays raised their target price on shares of RTX from $130.00 to $153.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.13.

RTX Stock Up 1.7%

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

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

Insiders Place Their Bets

In other RTX news, VP Kevin G. Dasilva sold 8,704 shares of the business’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total value of $1,359,564.80. Following the completion of the transaction, the vice president owned 30,004 shares in the company, valued at $4,686,624.80. The trade was a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of the business’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total transaction of $222,604.12. Following the completion of the transaction, the executive vice president owned 13,184 shares of the company’s stock, valued at approximately $2,007,395.84. This trade represents a 9.98% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,635 shares of company stock valued at $8,947,010. Corporate insiders own 0.15% of the company’s stock.

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.