Chesapeake Wealth Management Makes New Investment in RTX Co. (NYSE:RTX)

Chesapeake Wealth Management bought a new stake in RTX Co. (NYSE:RTX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,147 shares of the company’s stock, valued at approximately $918,000.

A number of other hedge funds have also bought and sold shares of RTX. Briaud Financial Planning Inc raised its stake in shares of RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the period. Lynx Investment Advisory purchased a new position in RTX in the second quarter valued at about $26,000. Mizuho Securities Co. Ltd. bought a new position in shares of RTX during the 2nd quarter valued at approximately $32,000. Fairman Group LLC purchased a new stake in shares of RTX during the 4th quarter worth approximately $38,000. Finally, Beaird Harris Wealth Management LLC raised its holdings in shares of RTX by 42.2% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock worth $39,000 after purchasing an additional 139 shares during the period. 86.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on RTX shares. Robert W. Baird raised 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. 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 research note on Wednesday, July 31st. Susquehanna increased their target price on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. lifted their target price on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, RTX presently has a consensus rating of “Hold” and a consensus price target of $157.31.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 17,570 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the completion of the sale, the executive vice president now directly owns 38,855 shares in the company, valued at approximately $4,463,273.85. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dantaya M. Williams sold 17,570 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.87, for a total value of $2,018,265.90. Following the transaction, the executive vice president now owns 38,855 shares in the company, valued at $4,463,273.85. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock valued at $20,861,880 over the last quarter. 0.13% of the stock is owned by corporate insiders.

RTX Stock Performance

NYSE RTX opened at $118.15 on Friday. The company has a market capitalization 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. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a 52-week low of $68.56 and a 52-week high of $123.70. The company has a fifty day moving average of $115.53 and a 200-day moving average of $106.06.

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. The firm had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 earnings per share. As a group, equities research analysts predict that RTX Co. will post 5.45 EPS for the current fiscal year.

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.