Brighton Jones LLC Purchases 718 Shares of RTX Co. (NYSE:RTX)

Brighton Jones LLC raised its position in RTX Co. (NYSE:RTX) by 5.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,841 shares of the company’s stock after buying an additional 718 shares during the quarter. Brighton Jones LLC’s holdings in RTX were worth $1,490,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Capital Research Global Investors grew its position in shares of RTX by 4.2% in the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after purchasing an additional 3,761,246 shares in the last quarter. Capital International Investors grew its position in shares of RTX by 4.8% in the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after purchasing an additional 3,161,165 shares in the last quarter. Clearbridge Investments LLC grew its position in shares of RTX by 2.0% in the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after purchasing an additional 213,331 shares in the last quarter. Sanders Capital LLC grew its position in shares of RTX by 6.8% in the fourth 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 in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of RTX by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock valued at $747,347,000 after purchasing an additional 417,789 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Alembic Global Advisors upgraded 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. JPMorgan Chase & Co. boosted their target price on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Susquehanna boosted their target price on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. Robert W. Baird boosted their target price on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Finally, Bank of America upgraded 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 research report on Wednesday, July 31st. Two investment 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $157.31.

RTX Trading Down 0.6 %

NYSE RTX opened at $118.15 on Friday. RTX Co. has a 1-year low of $68.56 and a 1-year high of $123.70. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average of $115.53 and a 200-day moving average of $106.06. The firm has a market cap of $157.17 billion, a PE ratio of 46.33, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82.

RTX (NYSE:RTX) last released its earnings results 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. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same quarter in the previous year, the company posted $1.29 EPS. RTX’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, sell-side analysts forecast that RTX Co. will post 5.45 EPS for the current year.

Insider Activity

In other news, 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 value of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other RTX news, EVP Dantaya M. Williams sold 17,570 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,333 shares of company stock valued at $20,861,880. 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.