First City Capital Management Inc. Cuts Holdings in RTX Co. (NYSE:RTX)

First City Capital Management Inc. cut its position in shares of RTX Co. (NYSE:RTX) by 4.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,614 shares of the company’s stock after selling 975 shares during the quarter. RTX comprises 1.2% of First City Capital Management Inc.’s portfolio, making the stock its 19th biggest position. First City Capital Management Inc.’s holdings in RTX were worth $2,170,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of RTX. Capital Research Global Investors grew its stake in RTX by 4.2% during the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after buying an additional 3,761,246 shares during the period. Capital International Investors lifted its holdings in shares of RTX by 4.8% during the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after acquiring an additional 3,161,165 shares in the last quarter. Clearbridge Investments LLC increased its holdings in RTX by 2.0% in the 1st 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 raised its position in 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 during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of RTX by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock worth $747,347,000 after purchasing an additional 417,789 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at RTX

In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.96, for a total value of $938,763.36. Following the sale, the vice president now directly owns 45,208 shares of the company’s stock, valued at $5,197,111.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.96, for a total value of $938,763.36. Following the completion of the transaction, the vice president now owns 45,208 shares in the company, valued at approximately $5,197,111.68. The transaction was disclosed in a legal filing with the SEC, which is available through 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 stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock worth $20,861,880 in the last 90 days. 0.13% of the stock is currently owned by company insiders.

RTX Stock Performance

RTX stock opened at $118.15 on Friday. The company has a market cap of $157.17 billion, a PE ratio of 46.33, a P/E/G ratio of 2.10 and a beta of 0.82. RTX Co. has a 12 month low of $68.56 and a 12 month high of $123.70. The company has a fifty day moving average price of $115.87 and a two-hundred day moving average price of $106.37. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last announced 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. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. The company’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 earnings per share for the current year.

Analyst Upgrades and Downgrades

RTX has been the topic of several analyst reports. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and raised their target price for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. The Goldman Sachs Group lifted their price objective on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Wells Fargo & Company lowered their price target on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Robert W. Baird boosted their price objective on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada raised their target price on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note 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. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $157.31.

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.