Auxier Asset Management Has $3.51 Million Position in RTX Co. (NYSE:RTX)

Auxier Asset Management cut its holdings in shares of RTX Co. (NYSE:RTX) by 11.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,945 shares of the company’s stock after selling 4,350 shares during the period. Auxier Asset Management’s holdings in RTX were worth $3,508,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. RFG Advisory LLC lifted its holdings in shares of RTX by 96.1% during the first quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock worth $3,936,000 after purchasing an additional 19,779 shares during the period. TCW Group Inc. acquired a new position in RTX during the 4th quarter worth about $1,912,000. Robinson Smith Wealth Advisors LLC bought a new stake in shares of RTX in the 4th quarter valued at about $672,000. Gryphon Financial Partners LLC acquired a new stake in shares of RTX in the fourth quarter valued at about $474,000. Finally, Edge Capital Group LLC raised its position in shares of RTX by 37.7% during the fourth quarter. Edge Capital Group LLC now owns 188,929 shares of the company’s stock worth $15,896,000 after acquiring an additional 51,735 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

RTX Price Performance

Shares of RTX opened at $118.15 on Friday. The business’s fifty day moving average is $115.87 and its 200 day moving average is $106.26. RTX Co. has a 12-month low of $68.56 and a 12-month high of $123.70. 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 stock has a market cap of $157.17 billion, a P/E ratio of 46.33, a P/E/G ratio of 2.10 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The firm 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%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $1.29 earnings per share. Sell-side analysts anticipate that RTX Co. will post 5.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RTX shares. Wells Fargo & Company decreased their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Robert W. Baird upped their price target on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Royal Bank of Canada increased their price target on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Finally, TD Cowen upped their target price on RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $157.31.

Insiders Place Their Bets

In other news, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the transaction, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the sale, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the business’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 owns 566,723 shares in the company, valued at $66,725,966.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 178,333 shares of company stock valued at $20,861,880. Corporate 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.