Ascent Group LLC Takes Position in RTX Co. (NYSE:RTX)

Ascent Group LLC acquired a new stake in RTX Co. (NYSE:RTX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,499 shares of the company’s stock, valued at approximately $251,000.

Other hedge funds also recently modified their holdings of the company. Briaud Financial Planning Inc grew its holdings 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 position in RTX during the second quarter worth about $26,000. Mizuho Securities Co. Ltd. bought a new position in RTX during the second quarter worth about $32,000. Fairman Group LLC bought a new position in RTX during the fourth quarter worth about $38,000. Finally, Beaird Harris Wealth Management LLC grew its holdings 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 purchasing an additional 139 shares during the period. Institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Melius Research lifted their price target on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a report on Tuesday, July 30th. Susquehanna boosted their price objective on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their price objective on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, RTX has an average rating of “Hold” and a consensus price target of $157.31.

RTX Stock Up 2.7 %

NYSE RTX opened at $124.38 on Wednesday. RTX Co. has a 1-year low of $68.56 and a 1-year high of $124.59. The company has a market cap of $165.36 billion, a price-to-earnings ratio of 48.78, a PEG ratio of 2.12 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average of $118.30 and a 200-day moving average of $107.96.

RTX (NYSE:RTX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating 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 business had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. During the same period in the previous year, the business earned $1.29 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. On average, equities research analysts expect that RTX Co. will post 5.45 earnings per share for the current fiscal year.

Insider Buying and Selling at RTX

In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the transaction, the chief executive officer now directly owns 88,509 shares in the company, valued at $10,090,026. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the transaction, the chief executive officer now directly owns 88,509 shares in the company, valued at $10,090,026. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the transaction, the vice president now owns 12,318 shares of the company’s stock, valued at $1,402,773.84. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock worth $20,861,880 over the last three months. Corporate insiders own 0.13% of the company’s stock.

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.