MQS Management LLC Makes New Investment in RTX Co. (NYSE:RTX)

MQS Management LLC acquired a new stake in RTX Co. (NYSE:RTX) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 8,745 shares of the company’s stock, valued at approximately $878,000. RTX comprises about 0.5% of MQS Management LLC’s investment portfolio, making the stock its 16th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Alpha Omega Wealth Management LLC increased its holdings in RTX by 0.6% in the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after purchasing an additional 89 shares in the last quarter. Motco lifted its position in shares of RTX by 7.2% during the 1st quarter. Motco now owns 1,475 shares of the company’s stock valued at $144,000 after acquiring an additional 99 shares during the period. D Orazio & Associates Inc. boosted its stake in RTX by 4.0% during the second quarter. D Orazio & Associates Inc. now owns 2,602 shares of the company’s stock worth $261,000 after acquiring an additional 99 shares in the last quarter. Enterprise Bank & Trust Co grew its holdings in RTX by 2.9% in the second quarter. Enterprise Bank & Trust Co now owns 3,550 shares of the company’s stock worth $356,000 after purchasing an additional 100 shares during the period. Finally, Werlinich Asset Management LLC grew its holdings in RTX by 0.4% in the second quarter. Werlinich Asset Management LLC now owns 26,814 shares of the company’s stock worth $2,698,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

NYSE RTX opened at $118.03 on Thursday. 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 company has a market capitalization of $157.01 billion, a PE ratio of 46.29, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. RTX Co. has a 52-week low of $68.56 and a 52-week high of $123.70. The company has a 50-day simple moving average of $114.84 and a 200 day simple moving average of $105.89.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on RTX shares. JPMorgan Chase & Co. raised their target price on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. Melius Research upped their target price on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Susquehanna boosted their price target on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Finally, Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $157.31.

Insider Transactions at RTX

In other RTX 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 transaction of $15,881,595.38. Following the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the business’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 sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction 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 completion of the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is owned by company insiders.

RTX 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.