RTX Co. (NYSE:RTX) Shares Bought by Verity & Verity LLC

Verity & Verity LLC grew its stake in RTX Co. (NYSE:RTX) by 0.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 239,072 shares of the company’s stock after buying an additional 591 shares during the period. RTX accounts for about 2.7% of Verity & Verity LLC’s holdings, making the stock its 7th biggest holding. Verity & Verity LLC’s holdings in RTX were worth $24,000,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Briaud Financial Planning Inc lifted its stake in shares of RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $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 $26,000. Mizuho Securities Co. Ltd. acquired a new stake in RTX in the second quarter worth $32,000. Fairfield Financial Advisors LTD bought a new position in shares of RTX during the 2nd quarter worth about $41,000. Finally, Alaska Permanent Fund Corp acquired a new position in RTX during the 1st quarter worth approximately $42,000. 86.50% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction dated Wednesday, July 31st. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Amy L. Johnson sold 6,734 shares of RTX 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 sale, 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. Over the last three months, insiders have sold 178,333 shares of company stock valued at $20,861,880. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RTX shares. JPMorgan Chase & Co. lifted their price objective on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. TD Cowen increased 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. Bank of America raised RTX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Susquehanna raised their price objective on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Finally, 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 research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, RTX presently has a consensus rating of “Hold” and a consensus price target of $157.31.

RTX Price Performance

Shares of RTX stock opened at $124.38 on Wednesday. The firm has a market capitalization of $165.36 billion, a PE ratio of 48.78, a price-to-earnings-growth 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. RTX Co. has a 12 month low of $68.56 and a 12 month high of $124.59. The business’s 50-day moving average price is $118.30 and its 200-day moving average price is $107.96.

RTX (NYSE:RTX) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping 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 firm had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. During the same period last year, the firm posted $1.29 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. Sell-side analysts forecast 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.