RTX Co. (NYSE:RTX) Shares Sold by Prio Wealth Limited Partnership

Prio Wealth Limited Partnership reduced its stake in shares of RTX Co. (NYSE:RTX) by 11.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 427,038 shares of the company’s stock after selling 53,433 shares during the period. RTX makes up approximately 1.3% of Prio Wealth Limited Partnership’s investment portfolio, making the stock its 23rd biggest holding. Prio Wealth Limited Partnership’s holdings in RTX were worth $42,870,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RTX. Briaud Financial Planning Inc lifted its stake in RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the period. Lynx Investment Advisory purchased a new stake in RTX in the second quarter valued at $26,000. Mizuho Securities Co. Ltd. acquired a new stake in RTX during the 2nd quarter worth about $32,000. Fairman Group LLC purchased a new position in shares of RTX during the 4th quarter valued at about $38,000. Finally, Beaird Harris Wealth Management LLC lifted its holdings in shares of RTX by 42.2% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock valued at $39,000 after buying an additional 139 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Up 2.7 %

RTX stock opened at $124.38 on Wednesday. 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 firm has a 50-day moving average of $118.30 and a two-hundred day moving average of $107.96. RTX Co. has a 12 month low of $68.56 and a 12 month 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.

RTX (NYSE:RTX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.41 EPS 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 for the quarter, compared to the consensus estimate of $19.29 billion. During the same quarter last year, the business posted $1.29 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, analysts forecast that RTX Co. will post 5.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RTX. JPMorgan Chase & Co. lifted their target price on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Melius Research increased their target price on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Wells Fargo & Company lowered their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada boosted their price objective on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $157.31.

Insiders Place Their Bets

In other news, VP Amy L. Johnson sold 6,734 shares of the 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 sale, the vice president now owns 12,318 shares of the company’s stock, valued at approximately $1,402,773.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was 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 directly owns 12,318 shares in the company, valued at $1,402,773.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $15,881,595.38. Following the sale, the chairman now directly 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. Insiders have sold 178,333 shares of company stock valued at $20,861,880 over the last ninety days. Company insiders own 0.13% of the company’s stock.

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.