RTX Co. (NYSE:RTX) Shares Sold by Engine Capital Management LP

Engine Capital Management LP lowered its stake in RTX Co. (NYSE:RTX) by 10.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 689,480 shares of the company’s stock after selling 77,420 shares during the period. RTX comprises 13.0% of Engine Capital Management LP’s investment portfolio, making the stock its biggest position. Engine Capital Management LP owned approximately 0.05% of RTX worth $69,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Briaud Financial Planning Inc raised its stake in 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 buying an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new stake in RTX during the second quarter worth approximately $26,000. Mizuho Securities Co. Ltd. acquired a new position in RTX in the second quarter valued at approximately $32,000. Fairman Group LLC purchased a new position in RTX in the fourth quarter valued at approximately $38,000. Finally, Beaird Harris Wealth Management LLC raised its holdings in 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 purchasing an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Up 1.8 %

NYSE RTX opened at $120.27 on Tuesday. 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 of $116.24 and a 200-day moving average of $106.69. The company has a market cap of $159.90 billion, a P/E ratio of 47.16, a P/E/G ratio of 2.10 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.30 by $0.11. The company had revenue of $19.72 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted $1.29 earnings per share. As a group, equities analysts predict that RTX Co. will post 5.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research report on Tuesday, July 30th. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Wells Fargo & Company lowered their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Finally, Royal Bank of Canada increased their price target on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $157.31.

Insider Buying and Selling at RTX

In other news, insider Shane G. Eddy sold 6,741 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP Kevin G. Dasilva sold 8,166 shares of RTX 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 sale, the vice president now owns 45,208 shares in the company, valued at $5,197,111.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shane G. Eddy sold 6,741 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock valued at $20,861,880 over the last ninety days. Corporate 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.