Mendel Money Management Buys 20,423 Shares of RTX Corporation $RTX

Mendel Money Management grew its position in shares of RTX Corporation (NYSE:RTX) by 209.1% in the second quarter, HoldingsChannel reports. The firm owned 30,191 shares of the company’s stock after buying an additional 20,423 shares during the quarter. RTX accounts for approximately 2.0% of Mendel Money Management’s investment portfolio, making the stock its 14th largest holding. Mendel Money Management’s holdings in RTX were worth $4,408,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new position in shares of RTX during the first quarter valued at about $26,000. PFS Partners LLC boosted its position in shares of RTX by 101.1% during the 2nd quarter. PFS Partners LLC now owns 177 shares of the company’s stock valued at $26,000 after acquiring an additional 89 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of RTX during the 1st quarter valued at approximately $40,000. McClarren Financial Advisors Inc. bought a new position in shares of RTX during the 1st quarter valued at approximately $44,000. Finally, Briaud Financial Planning Inc boosted its position in shares of RTX by 25.4% during the 2nd quarter. Briaud Financial Planning Inc now owns 321 shares of the company’s stock valued at $46,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on RTX shares. Sanford C. Bernstein increased their target price on RTX from $157.00 to $181.00 and gave the company a “market perform” rating in a research report on Monday, October 6th. Susquehanna upped their target price on shares of RTX from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, October 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of RTX in a research report on Wednesday, October 8th. Citigroup upped their target price on shares of RTX from $148.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Finally, Bank of America upped their target price on shares of RTX from $175.00 to $215.00 and gave the company a “buy” rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $178.47.

Insiders Place Their Bets

In related news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $180.15, for a total transaction of $873,547.35. Following the completion of the sale, the executive vice president directly owned 59,556 shares of the company’s stock, valued at approximately $10,729,013.40. This trade represents a 7.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shane G. Eddy sold 25,968 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $159.79, for a total value of $4,149,426.72. The SEC filing for this sale provides additional information. Insiders sold a total of 51,318 shares of company stock valued at $8,238,388 over the last quarter. 0.15% of the stock is currently owned by insiders.

RTX Price Performance

RTX stock opened at $178.76 on Wednesday. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $181.31. The company has a current ratio of 1.07, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average price of $162.06 and a 200 day moving average price of $148.59. The stock has a market cap of $239.67 billion, a PE ratio of 36.71, a P/E/G ratio of 3.11 and a beta of 0.66.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 21st. The company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.29. RTX had a net margin of 7.67% and a return on equity of 13.28%. The firm had revenue of $22.48 billion during the quarter, compared to analysts’ expectations of $21.26 billion. During the same period in the previous year, the company earned $1.45 EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. Equities research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.

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.