First Interstate Bank Cuts Stock Holdings in RTX Co. (NYSE:RTX)

First Interstate Bank lowered its position in RTX Co. (NYSE:RTX) by 6.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,261 shares of the company’s stock after selling 238 shares during the period. First Interstate Bank’s holdings in RTX were worth $327,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Royal London Asset Management Ltd. boosted its position in RTX by 0.9% in the second quarter. Royal London Asset Management Ltd. now owns 599,120 shares of the company’s stock worth $60,146,000 after purchasing an additional 5,466 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of RTX by 1.9% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 15,450 shares of the company’s stock worth $1,551,000 after buying an additional 286 shares during the last quarter. LGT Group Foundation grew its position in RTX by 8.7% during the second quarter. LGT Group Foundation now owns 3,300 shares of the company’s stock valued at $331,000 after buying an additional 265 shares during the period. Liberty Wealth Management LLC increased its holdings in RTX by 317.3% during the second quarter. Liberty Wealth Management LLC now owns 14,346 shares of the company’s stock worth $1,440,000 after buying an additional 10,908 shares during the last quarter. Finally, Choreo LLC raised its position in RTX by 144.5% in the second quarter. Choreo LLC now owns 105,019 shares of the company’s stock worth $10,456,000 after acquiring an additional 62,071 shares during the period. 86.50% of the stock is owned by institutional investors.

RTX Trading Up 2.3 %

Shares of RTX opened at $121.16 on Tuesday. RTX Co. has a 1-year low of $68.56 and a 1-year high of $123.70. The company has a market capitalization of $161.08 billion, a P/E ratio of 47.51, a P/E/G ratio of 2.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The firm’s 50 day simple moving average is $112.58 and its 200 day simple moving average is $104.64.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RTX. TD Cowen increased their target price on shares of RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research report on Friday, July 26th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a report on Friday. Robert W. Baird boosted their target price on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Susquehanna increased their price target on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Finally, 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 note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $153.47.

Insiders Place Their Bets

In other RTX news, VP Amy L. Johnson sold 6,734 shares of the company’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 value of $766,867.92. Following the completion of the sale, the vice president now owns 12,318 shares of the company’s stock, valued at $1,402,773.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Shane G. Eddy sold 6,741 shares of the company’s stock in a transaction dated 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 a total of 178,333 shares of company stock valued at $20,861,880 over the last 90 days. 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.