GR Financial Group LLC Decreases Stock Position in RTX Co. (NYSE:RTX)

GR Financial Group LLC reduced its stake in shares of RTX Co. (NYSE:RTX) by 35.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 12,138 shares of the company’s stock after selling 6,526 shares during the period. RTX makes up 0.3% of GR Financial Group LLC’s investment portfolio, making the stock its 5th biggest position. GR Financial Group LLC’s holdings in RTX were worth $1,219,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

Several research firms have issued reports on RTX. Royal Bank of Canada upped their price target on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Wells Fargo & Company dropped their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Susquehanna lifted 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. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research note on Friday. Finally, TD Cowen lifted their target price on shares of RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $153.47.

RTX Stock Up 2.3 %

Shares of NYSE:RTX opened at $121.16 on Tuesday. The firm 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 quick ratio of 0.73 and a current ratio of 0.99. The stock has a 50 day moving average price of $112.58 and a 200-day moving average price of $104.64. RTX Co. has a 52-week low of $68.56 and a 52-week high of $123.70.

RTX (NYSE:RTX) last posted its quarterly earnings data 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 business had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.29 earnings per share. As a group, equities research analysts anticipate that RTX Co. will post 5.45 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred on 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 sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $66,725,966.02. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Amy L. Johnson sold 6,734 shares of the firm’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 sale, the vice president now owns 12,318 shares of the company’s stock, valued at $1,402,773.84. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock valued at $20,861,880 over the last quarter. Corporate insiders own 0.13% of the company’s stock.

About RTX

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.