Fluent Financial LLC Acquires 7,456 Shares of RTX Co. (NYSE:RTX)

Fluent Financial LLC boosted its stake in shares of RTX Co. (NYSE:RTX) by 370.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,467 shares of the company’s stock after buying an additional 7,456 shares during the quarter. Fluent Financial LLC’s holdings in RTX were worth $1,147,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Capital Research Global Investors increased its holdings in RTX by 4.2% during the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after purchasing an additional 3,761,246 shares during the period. Capital International Investors boosted its stake in shares of RTX by 4.8% during the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after purchasing an additional 3,161,165 shares in the last quarter. Marshall Wace LLP increased its holdings in RTX by 1,247.1% during the second quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock valued at $206,172,000 after buying an additional 1,901,256 shares during the period. Hsbc Holdings PLC lifted its holdings in RTX by 47.9% during the second quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock worth $246,300,000 after buying an additional 792,830 shares during the period. Finally, Groupama Asset Managment purchased a new position in shares of RTX in the 4th quarter valued at $42,506,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on RTX shares. The Goldman Sachs Group lifted their target price on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and upped their target price for the company from $109.00 to $129.00 in a research report on Thursday. Finally, Susquehanna boosted their price objective on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $161.13.

RTX Price Performance

Shares of NYSE RTX traded up $1.24 during trading on Friday, hitting $124.91. The company had a trading volume of 3,056,543 shares, compared to its average volume of 6,964,188. The firm has a market capitalization of $166.16 billion, a price-to-earnings ratio of 48.98, a price-to-earnings-growth ratio of 2.18 and a beta of 0.82. The stock has a fifty day simple moving average of $119.11 and a two-hundred day simple moving average of $108.40. 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 Co. has a fifty-two week low of $68.56 and a fifty-two week high of $125.53.

RTX (NYSE:RTX) last posted its quarterly earnings data 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 return on equity of 11.37% and a net margin of 3.12%. The company had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same period in the previous year, the business earned $1.29 EPS. RTX’s quarterly revenue was up 7.7% on a year-over-year basis. On average, research analysts expect that RTX Co. will post 5.45 earnings per share for the current year.

Insider Activity

In related news, EVP Dantaya M. Williams sold 17,570 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the transaction, the executive vice president now directly owns 38,855 shares in the company, valued at approximately $4,463,273.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Gregory Hayes sold 134,887 shares of RTX 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 transaction, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 17,570 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the sale, the executive vice president now owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock worth $20,861,880 over the last three months. 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.