Legacy Financial Advisors Inc. Raises Holdings in RTX Co. (NYSE:RTX)

Legacy Financial Advisors Inc. boosted its stake in shares of RTX Co. (NYSE:RTX) by 8.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,501 shares of the company’s stock after buying an additional 606 shares during the period. Legacy Financial Advisors Inc.’s holdings in RTX were worth $753,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of RTX. RFG Advisory LLC boosted its position in RTX by 96.1% during the first quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after purchasing an additional 19,779 shares in the last quarter. TCW Group Inc. bought a new stake in shares of RTX in the 4th quarter valued at about $1,912,000. Robinson Smith Wealth Advisors LLC bought a new position in shares of RTX during the 4th quarter worth approximately $672,000. Gryphon Financial Partners LLC purchased a new stake in RTX during the fourth quarter valued at approximately $474,000. Finally, Edge Capital Group LLC boosted its stake in RTX by 37.7% in the fourth quarter. Edge Capital Group LLC now owns 188,929 shares of the company’s stock valued at $15,896,000 after acquiring an additional 51,735 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Price Performance

NYSE:RTX opened at $118.15 on Friday. The firm’s fifty day moving average is $115.87 and its two-hundred day moving average is $106.26. The firm has a market cap of $157.17 billion, a price-to-earnings ratio of 46.33, a PEG ratio of 2.10 and a beta of 0.82. RTX Co. has a one year low of $68.56 and a one year high of $123.70. 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 (NYSE:RTX) last posted its earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. During the same period last year, the company earned $1.29 earnings per share. RTX’s revenue for the quarter was up 7.7% compared to the same quarter last year. Research analysts expect that RTX Co. will post 5.45 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Melius Research increased their price objective on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Susquehanna increased their price target on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. boosted their price target on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. TD Cowen increased their price objective on shares of RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $157.31.

Insider Activity

In related news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Chairman Gregory Hayes sold 134,887 shares of the company’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 owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction that occurred on 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 directly owns 88,509 shares in the company, valued at $10,090,026. 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 in the last three months. 0.13% of the stock is currently owned by corporate insiders.

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.