Park Avenue Securities LLC Sells 1,850 Shares of RTX Co. (NYSE:RTX)

Park Avenue Securities LLC trimmed its position in shares of RTX Co. (NYSE:RTX) by 4.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,775 shares of the company’s stock after selling 1,850 shares during the period. Park Avenue Securities LLC’s holdings in RTX were worth $4,698,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RTX. Gabelli Funds LLC grew its position in shares of RTX by 60.7% during the fourth quarter. Gabelli Funds LLC now owns 31,840 shares of the company’s stock worth $2,679,000 after purchasing an additional 12,025 shares in the last quarter. CFS Investment Advisory Services LLC bought a new stake in shares of RTX during the fourth quarter valued at approximately $384,000. Wealth Quarterback LLC lifted its holdings in shares of RTX by 135.4% in the fourth quarter. Wealth Quarterback LLC now owns 10,842 shares of the company’s stock worth $912,000 after buying an additional 6,237 shares in the last quarter. Waterloo Capital L.P. bought a new position in shares of RTX during the fourth quarter worth $218,000. Finally, Personal CFO Solutions LLC grew its stake in RTX by 15.4% during the fourth quarter. Personal CFO Solutions LLC now owns 23,196 shares of the company’s stock valued at $1,952,000 after acquiring an additional 3,098 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Up 1.0 %

Shares of NYSE:RTX traded up $1.24 during trading hours on Friday, hitting $124.91. The company’s stock had a trading volume of 3,056,543 shares, compared to its average volume of 6,964,188. The firm’s fifty day moving average price is $118.89 and its 200 day moving average price is $108.18. RTX Co. has a 52 week low of $68.56 and a 52 week high of $125.53. The company has a market capitalization of $166.16 billion, a price-to-earnings ratio of 48.98, a P/E/G ratio of 2.18 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.

RTX (NYSE:RTX) last posted its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share 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 company had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same quarter in the prior year, the business earned $1.29 earnings per share. RTX’s revenue was up 7.7% on a year-over-year basis. As a group, research analysts expect that RTX Co. will post 5.45 EPS for the current year.

Insider Activity

In related news, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, 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 transaction, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 178,333 shares of company stock worth $20,861,880. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on RTX. Melius Research increased their price objective on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and raised their price target for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. TD Cowen upped their price objective on RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a report on Friday, July 26th. The Goldman Sachs Group raised their target price on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $161.13.

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.