ProVise Management Group LLC Acquires 291 Shares of RTX Co. (NYSE:RTX)

ProVise Management Group LLC lifted its holdings in shares of RTX Co. (NYSE:RTX) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,560 shares of the company’s stock after purchasing an additional 291 shares during the period. ProVise Management Group LLC’s holdings in RTX were worth $5,979,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Research Global Investors boosted its stake in RTX by 23.7% in the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock worth $7,608,822,000 after purchasing an additional 17,351,313 shares during the period. Capital International Investors increased its holdings in shares of RTX by 20.6% in the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock worth $5,488,752,000 after buying an additional 11,163,222 shares during the last quarter. Focused Investors Fund L P bought a new position in RTX in the first quarter valued at $80,594,000. Hsbc Holdings PLC boosted its holdings in shares of RTX by 47.9% in the 2nd quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock worth $246,300,000 after purchasing an additional 792,830 shares in the last quarter. Finally, Sanders Capital LLC increased its position in shares of RTX by 6.8% during the 4th quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock valued at $898,147,000 after purchasing an additional 677,520 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RTX has been the topic of several research reports. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. lifted their target price on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Susquehanna raised their price objective on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Royal Bank of Canada boosted their target price on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Finally, The Goldman Sachs Group lifted their price target on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $157.31.

RTX Stock Performance

Shares of NYSE RTX opened at $118.03 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The firm’s 50-day moving average price is $114.84 and its 200-day moving average price is $105.89. RTX Co. has a 52-week low of $68.56 and a 52-week high of $123.70. The company has a market cap of $157.01 billion, a PE ratio of 46.29, a PEG ratio of 2.10 and a beta of 0.82.

RTX (NYSE:RTX) last released 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. The firm had revenue of $19.72 billion for 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 company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the business posted $1.29 EPS. As a group, analysts anticipate that RTX Co. will post 5.45 EPS for the current year.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 17,570 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the completion of the sale, the executive vice president now owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other RTX news, EVP Dantaya M. Williams sold 17,570 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the completion of the sale, the executive vice president now owns 38,855 shares of the company’s stock, valued at $4,463,273.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 178,333 shares of company stock valued at $20,861,880. Insiders own 0.13% of the company’s stock.

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.