Granite Bay Wealth Management LLC Has $225,000 Holdings in RTX Co. (NYSE:RTX)

Granite Bay Wealth Management LLC decreased its holdings in RTX Co. (NYSE:RTX) by 98.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,853 shares of the company’s stock after selling 125,799 shares during the quarter. Granite Bay Wealth Management LLC’s holdings in RTX were worth $225,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RTX. Briaud Financial Planning Inc lifted its holdings 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 bought a new position in RTX during the 2nd quarter valued at about $26,000. Mizuho Securities Co. Ltd. bought a new position in RTX during the 2nd quarter valued at about $32,000. Fairman Group LLC acquired a new stake in RTX in the 4th quarter valued at about $38,000. Finally, Beaird Harris Wealth Management LLC increased its position in RTX by 42.2% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock valued at $39,000 after acquiring an additional 139 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

RTX Stock Down 0.3 %

NYSE RTX opened at $123.67 on Friday. The stock’s 50-day moving average price is $118.69 and its 200-day moving average price is $108.07. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. RTX Co. has a 52 week low of $68.56 and a 52 week high of $125.53. The company has a market capitalization of $164.42 billion, a P/E ratio of 48.50, a price-to-earnings-growth ratio of 2.12 and a beta of 0.82.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on RTX shares. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and raised their price objective for the company from $109.00 to $129.00 in a research report on Thursday. Susquehanna raised their price objective 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. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a research report on Tuesday, July 30th. Wells Fargo & Company lowered their price target on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada lifted their price target on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, RTX presently has a consensus rating of “Hold” and a consensus price target of $161.13.

Insider Activity at RTX

In related news, VP Kevin G. Dasilva sold 8,166 shares of the business’s stock in a transaction 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 completion of the transaction, the vice president now owns 45,208 shares in the company, valued at approximately $5,197,111.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.96, for a total value of $938,763.36. Following the completion of the sale, the vice president now directly owns 45,208 shares in the company, valued at approximately $5,197,111.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Gregory Hayes sold 134,887 shares of the company’s 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 completion of the sale, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock worth $20,861,880 in the last quarter. 0.13% of the stock is owned by company insiders.

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.