Kimelman & Baird LLC Buys New Holdings in RTX Co. (NYSE:RTX)

Kimelman & Baird LLC purchased a new position in shares of RTX Co. (NYSE:RTX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 456 shares of the company’s stock, valued at approximately $46,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Briaud Financial Planning Inc boosted its position in RTX by 64.1% during the second 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 period. Lynx Investment Advisory bought a new stake in shares of RTX during the 2nd quarter worth about $26,000. Mizuho Securities Co. Ltd. bought a new stake in shares of RTX during the 2nd quarter worth about $32,000. Fairman Group LLC bought a new position in RTX in the 4th quarter valued at about $38,000. Finally, Beaird Harris Wealth Management LLC lifted its position in RTX by 42.2% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock worth $39,000 after acquiring an additional 139 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Activity

In related news, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the transaction, the vice president now owns 12,318 shares in the company, valued at approximately $1,402,773.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, 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 owns 12,318 shares of the company’s stock, valued at $1,402,773.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of the business’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 in the company, valued at approximately $66,725,966.02. 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 corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Wells Fargo & Company dropped their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Robert W. Baird lifted their price objective on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, The Goldman Sachs Group increased their target price on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. 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. According to MarketBeat, RTX has a consensus rating of “Hold” and a consensus target price of $157.31.

RTX Price Performance

RTX stock opened at $121.14 on Tuesday. The stock has a market cap of $161.15 billion, a price-to-earnings ratio of 47.51, a P/E/G ratio of 2.12 and a beta of 0.82. 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 company has a 50 day simple moving average of $117.91 and a 200 day simple moving average of $107.74. RTX Co. has a 1 year low of $68.56 and a 1 year high of $123.70.

RTX (NYSE:RTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The company had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. RTX’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.29 EPS. Research analysts anticipate that RTX Co. will post 5.45 EPS for the current fiscal year.

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.