AllGen Financial Advisors Inc. Grows Holdings in RTX Co. (NYSE:RTX)

AllGen Financial Advisors Inc. grew its stake in shares of RTX Co. (NYSE:RTX) by 1.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,970 shares of the company’s stock after purchasing an additional 492 shares during the quarter. RTX makes up approximately 1.2% of AllGen Financial Advisors Inc.’s investment portfolio, making the stock its 19th largest position. AllGen Financial Advisors Inc.’s holdings in RTX were worth $3,209,000 as of its most recent filing with the Securities and Exchange Commission.

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

RTX Stock Performance

RTX opened at $118.03 on Thursday. The firm’s 50-day moving average price is $114.84 and its 200-day moving average price is $105.89. The company has a market cap of $157.01 billion, a P/E ratio of 46.29, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. 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 results 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. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. During the same quarter last year, the company posted $1.29 earnings per share. The business’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities analysts anticipate that RTX Co. will post 5.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Royal Bank of Canada upped their price objective on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Bank of America upgraded shares of 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 note on Wednesday, July 31st. Robert W. Baird boosted their price objective on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. increased their target price on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, RTX currently has an average rating of “Hold” and an average price target of $157.31.

Insider Activity

In related news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at $10,090,026. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the transaction, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at $10,090,026. The disclosure for this sale can be found here. Over the last three months, insiders have sold 178,333 shares of company stock valued at $20,861,880. Company 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.