J. Stern & Co. LLP Invests $30.05 Million in RTX Co. (NYSE:RTX)

J. Stern & Co. LLP acquired a new position in RTX Co. (NYSE:RTX) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 299,322 shares of the company’s stock, valued at approximately $30,049,000. RTX accounts for 3.6% of J. Stern & Co. LLP’s portfolio, making the stock its 16th largest holding.

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

Analysts Set New Price Targets

RTX has been the topic of a number of research reports. The Goldman Sachs Group upped their price target on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Robert W. Baird lifted their target price on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Royal Bank of Canada increased their price target on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. TD Cowen lifted their price objective on shares of RTX from $115.00 to $142.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Melius Research increased their target price 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 assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $157.31.

RTX Stock Performance

Shares of RTX opened at $118.15 on Monday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. RTX Co. has a 52-week low of $68.56 and a 52-week high of $123.70. The stock has a 50 day moving average price of $115.87 and a 200 day moving average price of $106.48. The company 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.

RTX (NYSE:RTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.41 EPS 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 analyst estimates of $19.29 billion. During the same period last year, the business earned $1.29 EPS. RTX’s revenue for the quarter was up 7.7% compared to the same quarter last year. Research analysts predict that RTX Co. will post 5.45 EPS for the current fiscal year.

Insider Activity

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of RTX 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 transaction, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the transaction, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred 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 transaction, the chairman now 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 sold 178,333 shares of company stock valued at $20,861,880. Insiders own 0.13% of the company’s stock.

About RTX

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.