True North Advisors LLC Decreases Stock Holdings in RTX Co. (NYSE:RTX)

True North Advisors LLC lessened its position in RTX Co. (NYSE:RTX) by 6.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,684 shares of the company’s stock after selling 275 shares during the period. True North Advisors LLC’s holdings in RTX were worth $446,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Briaud Financial Planning Inc raised its position in RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Lynx Investment Advisory purchased a new position in RTX in the second quarter worth about $26,000. Mizuho Securities Co. Ltd. bought a new position in shares of RTX in the second quarter worth approximately $32,000. Fairfield Financial Advisors LTD purchased a new stake in shares of RTX during the second quarter valued at approximately $41,000. Finally, Alaska Permanent Fund Corp bought a new stake in shares of RTX during the first quarter valued at approximately $42,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of NYSE:RTX opened at $123.85 on Wednesday. The firm has a fifty day simple moving average of $119.45 and a two-hundred day simple moving average of $109.00. 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 stock has a market capitalization of $164.75 billion, a P/E ratio of 48.42, a PEG ratio of 2.20 and a beta of 0.82. RTX Co. has a 52 week low of $72.29 and a 52 week high of $125.93.

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

Insider Buying and Selling

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 value of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of 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 SEC, which is available through this link. Also, VP Kevin G. Dasilva sold 8,166 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the completion of the sale, the vice president now owns 45,208 shares of the company’s stock, valued at approximately $5,197,111.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock valued at $20,861,880 over the last three months. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Wells Fargo & Company cut their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. The Goldman Sachs Group boosted their target price on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Robert W. Baird raised their price target on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and boosted their price objective for the company from $109.00 to $129.00 in a report on Thursday, October 3rd. Finally, Susquehanna raised their target price on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $161.13.

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.