Harmony Asset Management LLC Has $2.84 Million Position in RTX Co. (NYSE:RTX)

Harmony Asset Management LLC raised its position in RTX Co. (NYSE:RTX) by 4.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,285 shares of the company’s stock after purchasing an additional 1,283 shares during the quarter. RTX makes up approximately 1.2% of Harmony Asset Management LLC’s holdings, making the stock its 25th biggest position. Harmony Asset Management LLC’s holdings in RTX were worth $2,840,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DRW Securities LLC bought a new stake in shares of RTX during the 2nd quarter worth about $357,000. Edge Capital Group LLC increased its position in RTX by 2.6% in the 2nd quarter. Edge Capital Group LLC now owns 246,320 shares of the company’s stock worth $24,728,000 after buying an additional 6,173 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of RTX by 13.0% during the second quarter. EverSource Wealth Advisors LLC now owns 11,926 shares of the company’s stock worth $1,197,000 after buying an additional 1,368 shares during the last quarter. Fairscale Capital LLC bought a new stake in shares of RTX in the second quarter valued at approximately $406,000. Finally, Gabelli Funds LLC grew its stake in shares of RTX by 5.6% in the second quarter. Gabelli Funds LLC now owns 56,640 shares of the company’s stock worth $5,686,000 after acquiring an additional 3,000 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Insiders Place Their Bets

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction dated 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 sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Kevin G. Dasilva sold 8,166 shares of the firm’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 sale, the vice president now directly owns 45,208 shares in the company, valued at approximately $5,197,111.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the 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 sale, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock valued at $20,861,880 in the last quarter. 0.13% of the stock is currently owned by insiders.

RTX Trading Down 0.6 %

NYSE RTX opened at $118.15 on Monday. 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’s 50-day moving average is $115.87 and its 200-day moving average is $106.48. RTX Co. has a one year low of $68.56 and a one year high of $123.70. The firm has a market cap of $157.17 billion, a P/E ratio of 46.33, a P/E/G ratio of 2.10 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings results 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. The firm 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 business’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 earnings per share. Sell-side analysts anticipate that RTX Co. will post 5.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RTX shares. The Goldman Sachs Group increased their price target on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. JPMorgan Chase & Co. increased 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. Susquehanna upped their target price on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a report on Friday, July 26th. 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. Finally, Melius Research raised their price target on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $157.31.

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.