RTX Corporation $RTX Shares Acquired by Klingman & Associates LLC

Klingman & Associates LLC raised its stake in shares of RTX Corporation (NYSE:RTX) by 26.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,192 shares of the company’s stock after buying an additional 1,098 shares during the period. Klingman & Associates LLC’s holdings in RTX were worth $758,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in RTX. Pittenger & Anderson Inc. boosted its holdings in shares of RTX by 2.1% in the second quarter. Pittenger & Anderson Inc. now owns 48,267 shares of the company’s stock valued at $7,048,000 after acquiring an additional 1,005 shares in the last quarter. Phoenix Financial Ltd. lifted its position in RTX by 112.0% in the second quarter. Phoenix Financial Ltd. now owns 7,609 shares of the company’s stock worth $1,110,000 after purchasing an additional 4,020 shares during the period. Avidian Wealth Enterprises LLC boosted its stake in RTX by 2.8% during the 2nd quarter. Avidian Wealth Enterprises LLC now owns 11,650 shares of the company’s stock valued at $1,701,000 after purchasing an additional 320 shares in the last quarter. Drive Wealth Management LLC increased its position in shares of RTX by 2.9% during the 2nd quarter. Drive Wealth Management LLC now owns 5,319 shares of the company’s stock valued at $777,000 after purchasing an additional 151 shares during the period. Finally, Canvas Wealth Advisors LLC bought a new stake in shares of RTX in the 2nd quarter worth $254,000. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Up 1.7%

RTX stock opened at $160.63 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The firm has a market capitalization of $215.02 billion, a P/E ratio of 35.30, a P/E/G ratio of 2.93 and a beta of 0.66. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $170.85. The company’s 50 day simple moving average is $159.31 and its 200-day simple moving average is $146.31.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.11. The firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $20.68 billion. RTX had a net margin of 7.35% and a return on equity of 12.89%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.41 EPS. As a group, equities research analysts anticipate that RTX Corporation will post 6.11 EPS for the current year.

Insider Activity

In related news, insider Troy D. Brunk sold 7,654 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total value of $1,187,900.80. Following the completion of the sale, the insider directly owned 16,442 shares of the company’s stock, valued at approximately $2,551,798.40. This represents a 31.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shane G. Eddy sold 25,968 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $159.79, for a total value of $4,149,426.72. The disclosure for this sale can be found here. Insiders sold 56,635 shares of company stock valued at $8,947,010 in the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on RTX. JPMorgan Chase & Co. raised their target price on RTX from $145.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Bank of America lifted their price objective on shares of RTX from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Morgan Stanley increased their target price on shares of RTX from $165.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $195.00 price target on shares of RTX in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $170.00 price objective (up previously from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.13.

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.