Ariadne Wealth Management LP Purchases New Stake in RTX Co. (NYSE:RTX)

Ariadne Wealth Management LP purchased a new position in RTX Co. (NYSE:RTX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 45,164 shares of the company’s stock, valued at approximately $4,534,000. RTX comprises 2.5% of Ariadne Wealth Management LP’s investment portfolio, making the stock its 9th largest position.

Other institutional investors have also modified their holdings of the company. RFG Advisory LLC boosted its position 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 period. Edge Capital Group LLC boosted its holdings in RTX by 37.7% in the 4th 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 period. Rafferty Asset Management LLC grew its position in 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. Manning & Napier Advisors LLC bought a new stake in shares of RTX during the second quarter valued at approximately $30,837,000. Finally, Capital Advisors Ltd. LLC lifted its stake in RTX by 7.3% during the first quarter. Capital Advisors Ltd. LLC now owns 2,451 shares of the company’s stock worth $239,000 after purchasing an additional 166 shares during the period. Institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RTX. Robert W. Baird increased their target price on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. TD Cowen boosted their price objective 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. The Goldman Sachs Group lifted their price target on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Susquehanna lifted their price target on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company dropped 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. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $157.31.

Insiders Place Their Bets

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the business’s 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 completion of the sale, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was 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 in the company, valued at $1,402,773.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is owned by insiders.

RTX Stock Performance

Shares of RTX stock opened at $121.14 on Tuesday. The company has a market capitalization of $161.15 billion, a PE ratio of 47.51, a price-to-earnings-growth ratio of 2.12 and a beta of 0.82. The stock’s fifty day moving average is $117.91 and its two-hundred day moving average is $107.74. RTX Co. has a 52 week low of $68.56 and a 52 week high of $123.70. 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 (NYSE:RTX) last issued its quarterly earnings data 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. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. During the same period in the prior year, the business posted $1.29 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, analysts expect that RTX Co. will post 5.45 earnings per share for the current year.

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.