RTX Co. (NYSE:RTX) Shares Bought by Edge Capital Group LLC

Edge Capital Group LLC increased its holdings in shares of RTX Co. (NYSE:RTX) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 246,320 shares of the company’s stock after purchasing an additional 6,173 shares during the period. RTX accounts for about 1.2% of Edge Capital Group LLC’s holdings, making the stock its 19th biggest holding. Edge Capital Group LLC’s holdings in RTX were worth $24,728,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. RFG Advisory LLC grew its stake in shares of 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 acquiring an additional 19,779 shares in the last quarter. TCW Group Inc. acquired a new stake in RTX during the 4th quarter valued at approximately $1,912,000. Robinson Smith Wealth Advisors LLC acquired a new position in shares of RTX in the 4th quarter valued at approximately $672,000. Gryphon Financial Partners LLC purchased a new position in shares of RTX during the 4th quarter valued at approximately $474,000. Finally, Rafferty Asset Management LLC grew its position in shares of RTX by 7.0% during the fourth quarter. Rafferty Asset Management LLC now owns 360,036 shares of the company’s stock worth $30,293,000 after buying an additional 23,662 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Performance

Shares of RTX stock 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 firm has a market capitalization of $157.17 billion, a price-to-earnings ratio of 46.33, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. The business has a 50 day simple moving average of $115.87 and a 200 day simple moving average of $106.37.

RTX (NYSE:RTX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company 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. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts anticipate that RTX Co. will post 5.45 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on RTX. Susquehanna increased their price objective on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Wells Fargo & Company decreased their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a report on Tuesday, July 30th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group raised their price objective on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $157.31.

Insiders Place Their Bets

In other news, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Shane G. Eddy sold 6,741 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of RTX 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 transaction, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is owned by corporate insiders.

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.