Ignite Planners LLC Takes $213,000 Position in RTX Co. (NYSE:RTX)

Ignite Planners LLC bought a new stake in RTX Co. (NYSE:RTX) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,756 shares of the company’s stock, valued at approximately $213,000.

A number of other hedge funds also recently modified their holdings of RTX. Briaud Financial Planning Inc lifted its holdings in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new stake in shares of RTX in the second quarter valued at $26,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of RTX during the second quarter worth $32,000. Fairman Group LLC purchased a new stake in shares of RTX during the fourth quarter worth $38,000. Finally, Beaird Harris Wealth Management LLC raised its holdings in shares of RTX by 42.2% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock worth $39,000 after acquiring an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Down 1.3 %

Shares of NYSE:RTX opened at $123.48 on Wednesday. The company has a market cap of $164.26 billion, a P/E ratio of 48.42, a P/E/G ratio of 2.20 and a beta of 0.82. The stock’s 50-day moving average is $119.45 and its 200-day moving average is $109.00. RTX Co. has a 52-week low of $71.82 and a 52-week high of $125.93. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.11. The company had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $1.29 earnings per share. Equities research analysts predict that RTX Co. will post 5.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RTX shares. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. TD Cowen increased 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 increased their price objective on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Susquehanna increased their price objective on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Finally, Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $161.13.

Insider Activity

In other news, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the sale, the vice president now directly owns 12,318 shares of the company’s stock, valued at approximately $1,402,773.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the sale, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at $10,090,026. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the sale, the vice president now directly owns 12,318 shares in the company, valued at approximately $1,402,773.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is owned by insiders.

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.