Tealwood Asset Management Inc. Invests $1.97 Million in RTX Co. (NYSE:RTX)

Tealwood Asset Management Inc. bought a new position in shares of RTX Co. (NYSE:RTX) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 16,229 shares of the company’s stock, valued at approximately $1,966,000.

A number of other institutional investors also recently modified their holdings of RTX. Capital Research Global Investors boosted its holdings in shares of RTX by 4.2% during the first 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 lifted its holdings in RTX by 4.8% in the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after buying an additional 3,161,165 shares during the period. Marshall Wace LLP lifted its holdings in RTX by 1,247.1% in the second quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock worth $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% in 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 stake in RTX in the fourth quarter worth about $42,506,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on RTX shares. The Goldman Sachs Group raised their price objective on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Susquehanna lifted their target price on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a report on Friday, July 26th. 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 report on Friday, July 26th. Bank of America upgraded shares of 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 report on Wednesday, July 31st. Finally, Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, RTX presently has a consensus rating of “Hold” and an average target price of $161.13.

RTX Stock Performance

NYSE:RTX traded down $1.53 during trading hours on Tuesday, reaching $123.52. The company had a trading volume of 835,322 shares, compared to its average volume of 6,919,680. 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 52 week low of $71.82 and a 52 week high of $125.94. The firm has a market cap of $164.22 billion, a price-to-earnings ratio of 49.04, a PEG ratio of 2.18 and a beta of 0.82. The firm’s 50 day moving average price is $119.32 and its 200-day moving average price is $108.80.

RTX (NYSE:RTX) last posted its earnings results 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 net margin of 3.12% and a return on equity of 11.37%. The business had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. During the same quarter in the previous year, the firm posted $1.29 EPS. The firm’s revenue was up 7.7% on a year-over-year basis. On average, analysts forecast that RTX Co. will post 5.45 EPS for the current year.

Insiders Place Their Bets

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred 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 completion of the sale, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.96, for a total transaction of $938,763.36. Following the transaction, the vice president now directly owns 45,208 shares in the company, valued at approximately $5,197,111.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,333 shares of company stock valued at $20,861,880. 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.