Kayne Anderson Rudnick Investment Management LLC Has $178,000 Holdings in RTX Co. (NYSE:RTX)

Kayne Anderson Rudnick Investment Management LLC decreased its stake in shares of RTX Co. (NYSE:RTX) by 14.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,771 shares of the company’s stock after selling 290 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in RTX were worth $178,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. RFG Advisory LLC lifted its stake in shares of RTX by 96.1% in the first quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock worth $3,936,000 after buying an additional 19,779 shares during the last quarter. Robinson Smith Wealth Advisors LLC bought a new stake in RTX during the fourth quarter valued at about $672,000. Gryphon Financial Partners LLC bought a new stake in RTX during the fourth quarter valued at about $474,000. Edge Capital Group LLC grew its position in shares of RTX by 37.7% in the fourth quarter. Edge Capital Group LLC now owns 188,929 shares of the company’s stock valued at $15,896,000 after purchasing an additional 51,735 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its stake in shares of RTX by 7.0% in the fourth quarter. Rafferty Asset Management LLC now owns 360,036 shares of the company’s stock worth $30,293,000 after purchasing an additional 23,662 shares during the period. 86.50% of the stock is owned by institutional investors.

Insider Activity

In related news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction 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 completion of 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other RTX news, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Gregory Hayes sold 134,887 shares of the firm’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 completion of the sale, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 178,333 shares of company stock worth $20,861,880. Insiders own 0.13% of the company’s stock.

RTX Stock Performance

Shares of NYSE:RTX opened at $120.27 on Tuesday. The stock has a market capitalization of $159.90 billion, a price-to-earnings ratio of 47.16, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. The business’s fifty day moving average price is $116.24 and its two-hundred day moving average price is $106.69. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week 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.

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

Analyst Upgrades and Downgrades

RTX has been the topic of a number of research analyst reports. Susquehanna raised their target price on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a report on Friday, July 26th. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research note on Tuesday, July 30th. The Goldman Sachs Group upped their target price on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. TD Cowen raised their price target on shares of RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Two equities 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 company’s stock. According to MarketBeat.com, the company presently has a consensus 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.