Lakewood Asset Management LLC Has $2.56 Million Position in RTX Co. (NYSE:RTX)

Lakewood Asset Management LLC reduced its stake in shares of RTX Co. (NYSE:RTX) by 6.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,101 shares of the company’s stock after selling 1,422 shares during the quarter. RTX makes up approximately 1.7% of Lakewood Asset Management LLC’s portfolio, making the stock its 15th largest position. Lakewood Asset Management LLC’s holdings in RTX were worth $2,557,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in RTX. Gabelli Funds LLC boosted its holdings 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 during the period. Waterloo Capital L.P. acquired a new stake in RTX in the fourth quarter valued at approximately $218,000. Sei Investments Co. lifted its stake in RTX by 10.2% in the fourth quarter. Sei Investments Co. now owns 655,081 shares of the company’s stock valued at $55,118,000 after acquiring an additional 60,654 shares during the last quarter. XML Financial LLC lifted its stake in RTX by 4.6% in the fourth quarter. XML Financial LLC now owns 76,021 shares of the company’s stock valued at $6,396,000 after acquiring an additional 3,310 shares during the last quarter. Finally, State of Tennessee Treasury Department lifted its stake in RTX by 7.7% in the fourth quarter. State of Tennessee Treasury Department now owns 446,766 shares of the company’s stock valued at $37,591,000 after acquiring an additional 31,845 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Royal Bank of Canada lifted their target price on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and lifted their price target for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Robert W. Baird lifted their price target on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. boosted their target price on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, Melius Research boosted their target price on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, RTX presently has a consensus rating of “Hold” and an average price target of $161.13.

RTX Stock Performance

RTX stock traded up $0.14 on Monday, hitting $125.05. The company’s stock had a trading volume of 4,488,927 shares, compared to its average volume of 6,951,367. The firm has a market cap of $166.25 billion, a P/E ratio of 48.98, a price-to-earnings-growth ratio of 2.18 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average price of $119.11 and a 200-day moving average price of $108.59. RTX Co. has a one year low of $71.82 and a one year high of $125.68.

RTX (NYSE:RTX) last issued its earnings results 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 company had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. During the same quarter in the previous year, the company earned $1.29 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities analysts anticipate that RTX Co. will post 5.45 earnings per share for the current year.

Insider Activity

In other news, EVP Dantaya M. Williams sold 17,570 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the sale, the executive vice president now owns 38,855 shares in the company, valued at approximately $4,463,273.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Shane G. Eddy sold 6,741 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Dantaya M. Williams sold 17,570 shares of the company’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 transaction, the executive vice president now owns 38,855 shares in the company, valued at approximately $4,463,273.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 178,333 shares of company stock worth $20,861,880. 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.