Wealth Alliance Reduces Stake in RTX Co. (NYSE:RTX)

Wealth Alliance decreased its stake in shares of RTX Co. (NYSE:RTX) by 11.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 13,222 shares of the company’s stock after selling 1,706 shares during the period. Wealth Alliance’s holdings in RTX were worth $1,327,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. RFG Advisory LLC raised its holdings in shares of RTX by 96.1% in the 1st quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after acquiring an additional 19,779 shares in the last quarter. TCW Group Inc. purchased a new stake in shares of RTX in the 4th quarter valued at about $1,912,000. Robinson Smith Wealth Advisors LLC purchased a new stake in shares of RTX in the 4th quarter valued at about $672,000. Gryphon Financial Partners LLC purchased a new stake in shares of RTX in the 4th quarter valued at about $474,000. Finally, Edge Capital Group LLC raised its holdings in shares of RTX by 37.7% in the 4th quarter. Edge Capital Group LLC now owns 188,929 shares of the company’s stock valued at $15,896,000 after acquiring an additional 51,735 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other RTX news, EVP Dantaya M. Williams sold 17,570 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the transaction, the executive vice president now owns 38,855 shares in the company, valued at approximately $4,463,273.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other RTX news, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the transaction, the vice president now owns 12,318 shares in the company, valued at approximately $1,402,773.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Dantaya M. Williams sold 17,570 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the transaction, the executive vice president now owns 38,855 shares in the company, valued at approximately $4,463,273.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 178,333 shares of company stock worth $20,861,880. Insiders own 0.13% of the company’s stock.

RTX Trading Down 0.4 %

RTX stock opened at $118.73 on Wednesday. RTX Co. has a 12 month low of $68.56 and a 12 month high of $123.70. The company has a market capitalization of $157.94 billion, a price-to-earnings ratio of 46.56, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The business’s fifty day simple moving average is $114.49 and its two-hundred day simple moving average is $105.68. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.30 by $0.11. The company had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. RTX’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.29 EPS. As a group, equities analysts predict that RTX Co. will post 5.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Royal Bank of Canada increased their price objective on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Susquehanna increased their price objective on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research report on Friday, July 26th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research report on Tuesday, July 30th. Finally, The Goldman Sachs Group increased their price objective on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $157.31.

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.