Gryphon Financial Partners LLC Raises Position in RTX Co. (NYSE:RTX)

Gryphon Financial Partners LLC increased its holdings in RTX Co. (NYSE:RTX) by 4.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,907 shares of the company’s stock after buying an additional 318 shares during the period. Gryphon Financial Partners LLC’s holdings in RTX were worth $693,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in RTX. Briaud Financial Planning Inc increased its stake in RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new position in RTX in the second quarter valued at $26,000. Mizuho Securities Co. Ltd. bought a new position in RTX in the second quarter valued at $32,000. Alaska Permanent Fund Corp bought a new position in RTX in the first quarter valued at $42,000. Finally, Stephens Consulting LLC increased its stake in RTX by 34.1% in the second quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock valued at $45,000 after acquiring an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RTX shares. Robert W. Baird raised their price objective on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Royal Bank of Canada raised their price objective on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Wells Fargo & Company reduced their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Finally, Melius Research raised their price objective on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. 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 data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $153.47.

RTX Stock Performance

Shares of RTX opened at $121.47 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. RTX Co. has a one year low of $68.56 and a one year high of $123.70. The company has a 50-day simple moving average of $112.58 and a two-hundred day simple moving average of $104.64. The firm has a market capitalization of $161.50 billion, a PE ratio of 47.51, a price-to-earnings-growth ratio of 2.08 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same period last year, the business posted $1.29 earnings per share. RTX’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, analysts anticipate that RTX Co. will post 5.45 EPS for the current fiscal year.

Insider Activity

In other news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the transaction, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the transaction, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 approximately $66,725,966.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 178,333 shares of company stock worth $20,861,880. Insiders own 0.13% of the company’s stock.

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.