Hourglass Capital LLC Takes Position in RTX Co. (NYSE:RTX)

Hourglass Capital LLC purchased a new position in shares of RTX Co. (NYSE:RTX) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,000 shares of the company’s stock, valued at approximately $301,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Briaud Financial Planning Inc lifted its position in shares of RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory bought a new position in RTX in the 2nd quarter worth approximately $26,000. Mizuho Securities Co. Ltd. acquired a new position in RTX during the 2nd quarter worth $32,000. Fairman Group LLC bought a new position in RTX in the 4th quarter valued at $38,000. Finally, Beaird Harris Wealth Management LLC increased its stake in shares of RTX by 42.2% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock valued at $39,000 after buying an additional 139 shares during the period. Institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on RTX. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday. Susquehanna increased their price target on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Finally, The Goldman Sachs Group raised their price target on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $153.47.

RTX Stock Performance

Shares of RTX opened at $120.41 on Friday. The firm’s 50 day moving average price is $111.78 and its two-hundred day moving average price is $104.03. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a twelve month low of $68.56 and a twelve month high of $123.70. The firm has a market cap of $160.09 billion, a P/E ratio of 46.91, a PEG ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last released its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 EPS. On average, analysts forecast that RTX Co. will post 5.45 EPS for the current fiscal year.

Insider Transactions at RTX

In other news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the sale, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Shane G. Eddy sold 6,741 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock valued at $20,861,880 in the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

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.