RTX Co. (NYSE:RTX) Position Raised by Cedar Wealth Management LLC

Cedar Wealth Management LLC lifted its position in shares of RTX Co. (NYSE:RTX) by 61.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,636 shares of the company’s stock after acquiring an additional 625 shares during the period. Cedar Wealth Management LLC’s holdings in RTX were worth $164,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of RTX. Gryphon Financial Partners LLC acquired a new position in shares of RTX during the fourth quarter worth approximately $474,000. TrinityPoint Wealth LLC grew its stake in shares of RTX by 8.1% in the fourth quarter. TrinityPoint Wealth LLC now owns 37,374 shares of the company’s stock worth $3,145,000 after purchasing an additional 2,790 shares in the last quarter. Assetmark Inc. increased its holdings in shares of RTX by 2.0% during the fourth quarter. Assetmark Inc. now owns 112,525 shares of the company’s stock valued at $9,468,000 after purchasing an additional 2,217 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of RTX by 19.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 7,450 shares of the company’s stock valued at $627,000 after purchasing an additional 1,212 shares in the last quarter. Finally, InterOcean Capital Group LLC lifted its holdings in RTX by 4.7% in the fourth quarter. InterOcean Capital Group LLC now owns 10,215 shares of the company’s stock worth $859,000 after purchasing an additional 463 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Up 0.7 %

Shares of RTX stock opened at $118.84 on Friday. The stock has a 50 day moving average price of $115.19 and a two-hundred day moving average price of $105.97. 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 12-month low of $68.56 and a 12-month high of $123.70. The stock has a market capitalization of $158.09 billion, a P/E ratio of 46.60, a PEG ratio of 2.10 and a beta of 0.82.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research report on Tuesday, July 30th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Melius Research raised their price objective on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Finally, Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $157.31.

Insider Transactions at RTX

In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.96, for a total value of $938,763.36. Following the sale, the vice president now owns 45,208 shares of the company’s stock, valued at approximately $5,197,111.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.96, for a total value of $938,763.36. Following the sale, the vice president now owns 45,208 shares of the company’s stock, valued at approximately $5,197,111.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 transaction of $15,881,595.38. Following 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. Over the last ninety days, insiders have sold 178,333 shares of company stock worth $20,861,880. Company 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.