Stonebridge Financial Planning Group LLC Sells 781 Shares of RTX Co. (NYSE:RTX)

Stonebridge Financial Planning Group LLC cut its holdings in RTX Co. (NYSE:RTX) by 10.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,049 shares of the company’s stock after selling 781 shares during the quarter. Stonebridge Financial Planning Group LLC’s holdings in RTX were worth $708,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of RTX. Capital Research Global Investors raised its holdings in RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after purchasing an additional 3,761,246 shares during the period. Capital International Investors raised its holdings in RTX by 4.8% in the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after purchasing an additional 3,161,165 shares during the period. Clearbridge Investments LLC raised its holdings in RTX by 2.0% in the 1st quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after purchasing an additional 213,331 shares during the period. Sanders Capital LLC raised its holdings in RTX by 6.8% in the 4th quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock worth $898,147,000 after purchasing an additional 677,520 shares during the period. Finally, Norges Bank bought a new position in RTX in the 4th quarter worth $690,154,000. 86.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the transaction, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other RTX news, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was 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 owns 12,318 shares in the company, valued at $1,402,773.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Gregory Hayes sold 134,887 shares of the business’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 value of $15,881,595.38. Following the transaction, the chairman now 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 quarter, insiders sold 178,333 shares of company stock worth $20,861,880. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RTX. Royal Bank of Canada raised their target price on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and increased their price target for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Wells Fargo & Company cut their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Melius Research increased their price target on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Finally, StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, RTX currently has a consensus rating of “Hold” and a consensus price target of $157.31.

RTX Trading Up 0.7 %

Shares of RTX stock opened at $120.10 on Friday. The firm has a market cap of $159.76 billion, a price-to-earnings ratio of 47.10, a PEG ratio of 2.10 and a beta of 0.82. RTX Co. has a twelve month low of $68.56 and a twelve month high of $123.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average price of $113.73 and a 200-day moving average price of $105.06.

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