Holderness Investments Co. Cuts Stock Holdings in RTX Co. (NYSE:RTX)

Holderness Investments Co. lessened its holdings in RTX Co. (NYSE:RTX) by 1.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 18,624 shares of the company’s stock after selling 250 shares during the period. Holderness Investments Co.’s holdings in RTX were worth $1,870,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Alpha Omega Wealth Management LLC lifted its stake in RTX by 0.6% in the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after purchasing an additional 89 shares in the last quarter. Motco lifted its position in RTX by 7.2% during the first quarter. Motco now owns 1,475 shares of the company’s stock worth $144,000 after buying an additional 99 shares in the last quarter. D Orazio & Associates Inc. grew its holdings in RTX by 4.0% in the 2nd quarter. D Orazio & Associates Inc. now owns 2,602 shares of the company’s stock valued at $261,000 after buying an additional 99 shares in the last quarter. Enterprise Bank & Trust Co increased its stake in shares of RTX by 2.9% in the 2nd quarter. Enterprise Bank & Trust Co now owns 3,550 shares of the company’s stock worth $356,000 after acquiring an additional 100 shares during the last quarter. Finally, Werlinich Asset Management LLC raised its holdings in shares of RTX by 0.4% during the 2nd quarter. Werlinich Asset Management LLC now owns 26,814 shares of the company’s stock worth $2,698,000 after acquiring an additional 100 shares during the period. 86.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Susquehanna upped their price objective on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a report on Friday, July 26th. TD Cowen raised their price target on shares of RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a report on Friday, July 26th. The Goldman Sachs Group upped their price objective on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Finally, Melius Research upped their price target on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, RTX currently has a consensus rating of “Hold” and a consensus target price of $157.31.

RTX Stock Down 0.6 %

Shares of NYSE:RTX opened at $118.15 on Friday. The firm’s 50-day moving average is $115.87 and its two-hundred day moving average is $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 Co. has a 1 year low of $68.56 and a 1 year high of $123.70. The firm has a market capitalization 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 announced its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $19.29 billion. During the same period in the prior year, the firm earned $1.29 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. Analysts predict that RTX Co. will post 5.45 EPS for the current year.

Insider Activity

In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the sale, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the transaction, the vice president now owns 12,318 shares in the company, valued at $1,402,773.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction 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. Over the last three months, insiders have sold 178,333 shares of company stock worth $20,861,880. Corporate insiders own 0.13% of the company’s stock.

RTX Company 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.