Brown Financial Advisors Purchases New Stake in RTX Co. (NYSE:RTX)

Brown Financial Advisors purchased a new stake in RTX Co. (NYSE:RTX) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,118 shares of the company’s stock, valued at approximately $715,000.

Other hedge funds and other institutional investors have also bought and sold shares of 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 purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory acquired a new position in RTX in the second quarter valued at about $26,000. Mizuho Securities Co. Ltd. acquired a new position in RTX during the second quarter worth about $32,000. Fairman Group LLC acquired a new position in RTX during the fourth quarter worth about $38,000. Finally, Beaird Harris Wealth Management LLC raised its stake 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 acquiring an additional 139 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $124.38 on Wednesday. The business’s 50 day simple moving average is $118.30 and its 200 day simple moving average is $107.96. RTX Co. has a one year low of $68.56 and a one year high of $124.59. The stock has a market capitalization of $165.36 billion, a PE ratio of 48.78, a PEG ratio of 2.12 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 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. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. During the same period in the previous year, the firm earned $1.29 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year. As a group, research analysts forecast that RTX Co. will post 5.45 earnings per share for the current year.

Insider Buying and Selling at RTX

In other RTX news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP Kevin G. Dasilva sold 8,166 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $5,197,111.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shane G. Eddy sold 6,741 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on RTX shares. TD Cowen boosted their target price on RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. 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 note on Monday, July 29th. JPMorgan Chase & Co. boosted their target price on RTX from $110.00 to $130.00 and gave the stock an “overweight” 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 target price for the company in a research note on Tuesday, July 30th. Finally, Melius Research boosted their price target on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $157.31.

RTX 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.