Sompo Asset Management Co. Ltd. Cuts Stake in RTX Co. (NYSE:RTX)

Sompo Asset Management Co. Ltd. cut its stake in RTX Co. (NYSE:RTX) by 20.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,010 shares of the company’s stock after selling 1,780 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in RTX were worth $704,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Capital Research Global Investors raised its stake in RTX by 23.7% in the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after purchasing an additional 17,351,313 shares during the last quarter. Capital International Investors lifted its stake in shares of RTX by 20.6% in the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock worth $5,488,752,000 after buying an additional 11,163,222 shares in the last quarter. Focused Investors Fund L P acquired a new position in RTX during the first quarter worth about $80,594,000. Hsbc Holdings PLC grew its stake in RTX by 47.9% during the 2nd quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock valued at $246,300,000 after acquiring an additional 792,830 shares in the last quarter. Finally, Sanders Capital LLC raised its holdings in RTX by 6.8% in the 4th quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock valued at $898,147,000 after acquiring an additional 677,520 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on RTX. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a report on Tuesday, July 30th. Susquehanna lifted their price target on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Melius Research raised their price objective on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Wells Fargo & Company dropped their price target on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Finally, TD Cowen lifted their price target 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. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, RTX has a consensus rating of “Hold” and a consensus price target of $157.31.

RTX Trading Down 0.6 %

RTX opened at $118.15 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The stock has a market capitalization of $157.17 billion, a price-to-earnings ratio of 46.33, a PEG ratio of 2.10 and a beta of 0.82. The business has a fifty day moving average price of $115.87 and a 200 day moving average price of $106.26. RTX Co. has a 12 month low of $68.56 and a 12 month high of $123.70.

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

Insider Buying and Selling

In other news, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the transaction, the vice president now directly owns 12,318 shares of the company’s stock, valued at approximately $1,402,773.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction 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 completion of the transaction, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the transaction, the vice president now directly owns 12,318 shares in the company, valued at approximately $1,402,773.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 178,333 shares of company stock worth $20,861,880. Corporate insiders own 0.13% of the company’s stock.

RTX 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.