E Fund Management Co. Ltd. Buys New Position in RTX Co. (NYSE:RTX)

E Fund Management Co. Ltd. purchased a new position in RTX Co. (NYSE:RTX) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,007 shares of the company’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RTX. Alpha Omega Wealth Management LLC lifted its stake in RTX by 0.6% during the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock valued at $1,518,000 after purchasing an additional 89 shares during the last quarter. Motco lifted its position in shares of RTX by 7.2% during the 1st quarter. Motco now owns 1,475 shares of the company’s stock valued at $144,000 after acquiring an additional 99 shares during the last quarter. D Orazio & Associates Inc. boosted its stake in shares of RTX by 4.0% during the 2nd quarter. D Orazio & Associates Inc. now owns 2,602 shares of the company’s stock worth $261,000 after acquiring an additional 99 shares in the last quarter. Enterprise Bank & Trust Co grew its holdings in shares of RTX by 2.9% in the 2nd quarter. Enterprise Bank & Trust Co now owns 3,550 shares of the company’s stock worth $356,000 after acquiring an additional 100 shares during the last quarter. Finally, Werlinich Asset Management LLC raised its position in shares of RTX by 0.4% during the second quarter. Werlinich Asset Management LLC now owns 26,814 shares of the company’s stock worth $2,698,000 after purchasing an additional 100 shares during the period. 86.50% of the stock is currently owned by institutional investors.

RTX Price Performance

NYSE RTX opened at $118.84 on Friday. 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 $158.09 billion, a PE ratio of 46.60, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. RTX Co. has a 12-month low of $68.56 and a 12-month high of $123.70. The company has a 50 day moving average price of $115.19 and a two-hundred day moving average price of $105.97.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on RTX. The Goldman Sachs Group increased their price target on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a research report on Tuesday, July 30th. Susquehanna upped their price target on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research report on Friday, July 26th. Melius Research lifted their price objective on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada boosted 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. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $157.31.

Insiders Place Their Bets

In related news, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the transaction, the vice president now directly owns 12,318 shares of the company’s stock, valued at approximately $1,402,773.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the transaction, the vice president now directly owns 12,318 shares in the company, valued at approximately $1,402,773.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 of the company’s stock, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock valued at $20,861,880 over the last quarter. Insiders own 0.13% of the company’s stock.

About RTX

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.