DRW Securities LLC Takes Position in RTX Co. (NYSE:RTX)

DRW Securities LLC bought a new stake in shares of RTX Co. (NYSE:RTX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,554 shares of the company’s stock, valued at approximately $357,000.

A number of other institutional investors have also recently made changes to their positions in RTX. Edge Capital Group LLC lifted its position in RTX by 2.6% during the second quarter. Edge Capital Group LLC now owns 246,320 shares of the company’s stock valued at $24,728,000 after purchasing an additional 6,173 shares during the period. EverSource Wealth Advisors LLC raised its stake in RTX by 13.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 11,926 shares of the company’s stock valued at $1,197,000 after buying an additional 1,368 shares during the last quarter. Fairscale Capital LLC bought a new position in shares of RTX during the 2nd quarter valued at $406,000. Gabelli Funds LLC boosted its stake in shares of RTX by 5.6% in the 2nd quarter. Gabelli Funds LLC now owns 56,640 shares of the company’s stock worth $5,686,000 after buying an additional 3,000 shares during the last quarter. Finally, Frank Rimerman Advisors LLC increased its position in RTX by 3,170.6% during the second quarter. Frank Rimerman Advisors LLC now owns 8,569 shares of the company’s stock valued at $860,000 after acquiring an additional 8,307 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Up 1.8 %

RTX stock opened at $120.27 on Tuesday. 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 business has a 50 day simple moving average of $116.24 and a two-hundred day simple moving average of $106.69. The company has a market capitalization of $159.90 billion, a price-to-earnings ratio of 47.16, a PEG ratio of 2.10 and a beta of 0.82.

RTX (NYSE:RTX) last issued its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion during 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%. RTX’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 earned $1.29 earnings per share. Research analysts anticipate that RTX Co. will post 5.45 EPS for the current fiscal year.

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 17,570 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the completion of the transaction, the executive vice president now directly owns 38,855 shares of the company’s stock, valued at $4,463,273.85. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Dantaya M. Williams sold 17,570 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the sale, the executive vice president now directly owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the transaction, the vice president now directly owns 12,318 shares of the company’s stock, valued at $1,402,773.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RTX. 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 research report on Tuesday, July 30th. Wells Fargo & Company reduced their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Royal Bank of Canada lifted their price target on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. TD Cowen upped their price objective on RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. lifted their target price on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $157.31.

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.