Intech Investment Management LLC Boosts Holdings in RTX Co. (NYSE:RTX)

Intech Investment Management LLC lifted its stake in shares of RTX Co. (NYSE:RTX) by 49.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,052 shares of the company’s stock after acquiring an additional 12,583 shares during the period. Intech Investment Management LLC’s holdings in RTX were worth $3,820,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of RTX. Briaud Financial Planning Inc boosted its holdings in shares of RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Lynx Investment Advisory acquired a new position in RTX in the second quarter valued at $26,000. Mizuho Securities Co. Ltd. purchased a new stake in RTX during the second quarter valued at about $32,000. Fairfield Financial Advisors LTD acquired a new stake in RTX during the second quarter worth about $41,000. Finally, Alaska Permanent Fund Corp purchased a new position in shares of RTX in the 1st quarter worth about $42,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RTX shares. JPMorgan Chase & Co. boosted their target price on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Bank of America raised shares of 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 research note on Wednesday, July 31st. The Goldman Sachs Group upped their price target on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Finally, Royal Bank of Canada upped their target price on RTX from $102.00 to $115.00 and gave the stock a “sector perform” 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $157.31.

Insiders Place Their Bets

In related news, 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 sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the business’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 completion of the sale, 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 SEC, which can be accessed through the SEC website. Also, VP Kevin G. Dasilva sold 8,166 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.96, for a total transaction of $938,763.36. Following the completion of the transaction, the vice president now owns 45,208 shares in the company, valued at $5,197,111.68. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock valued at $20,861,880 in the last quarter. Insiders own 0.13% of the company’s stock.

RTX Trading Down 0.6 %

RTX opened at $118.15 on Friday. RTX Co. has a 12-month low of $68.56 and a 12-month high of $123.70. 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 PE ratio of 46.33, a P/E/G ratio of 2.10 and a beta of 0.82. The firm’s fifty day moving average price is $115.87 and its 200 day moving average price is $106.37.

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

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.