Wallace Advisory Group LLC Sells 272 Shares of RTX Co. (NYSE:RTX)

Wallace Advisory Group LLC cut its holdings in shares of RTX Co. (NYSE:RTX) by 3.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,635 shares of the company’s stock after selling 272 shares during the quarter. Wallace Advisory Group LLC’s holdings in RTX were worth $804,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. RFG Advisory LLC lifted its position in shares of RTX by 96.1% during the 1st quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after acquiring an additional 19,779 shares during the period. Manning & Napier Advisors LLC bought a new stake in RTX during the second quarter worth about $30,837,000. Capital Advisors Ltd. LLC grew its stake in RTX by 7.3% during the first quarter. Capital Advisors Ltd. LLC now owns 2,451 shares of the company’s stock worth $239,000 after buying an additional 166 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in RTX by 126.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock valued at $17,134,000 after buying an additional 98,248 shares during the period. Finally, CWM LLC raised its position in shares of RTX by 7.2% in the 1st quarter. CWM LLC now owns 126,970 shares of the company’s stock valued at $12,383,000 after buying an additional 8,493 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at RTX

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction dated 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 completion of the transaction, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were 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 directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Dantaya M. Williams sold 17,570 shares of RTX stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the transaction, the executive vice president now directly owns 38,855 shares in the company, valued at approximately $4,463,273.85. This represents a 0.00 % decrease in their position. 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. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on RTX. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a report on Tuesday, July 30th. Royal Bank of Canada raised their price objective on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and boosted their target price for the stock from $109.00 to $129.00 in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, RTX currently has a consensus rating of “Hold” and a consensus target price of $161.13.

RTX Trading Up 1.0 %

RTX stock traded up $1.24 during midday trading on Friday, hitting $124.91. The stock had a trading volume of 3,056,543 shares, compared to its average volume of 6,964,188. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The business has a fifty day moving average price of $119.11 and a two-hundred day moving average price of $108.40. RTX Co. has a 1-year low of $68.56 and a 1-year high of $125.53. The firm has a market cap of $166.16 billion, a P/E ratio of 48.98, a price-to-earnings-growth ratio of 2.18 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings data 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 firm had revenue of $19.72 billion for 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%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.29 earnings per share. On average, sell-side analysts predict that RTX Co. will post 5.45 earnings per share for the current fiscal year.

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.