Wright Investors Service Inc. Lowers Stake in RTX Co. (NYSE:RTX)

Wright Investors Service Inc. lessened its holdings in RTX Co. (NYSE:RTX) by 2.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,965 shares of the company’s stock after selling 201 shares during the quarter. Wright Investors Service Inc.’s holdings in RTX were worth $1,207,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Briaud Financial Planning Inc boosted its holdings in RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares in the last quarter. Lynx Investment Advisory bought a new stake in shares of RTX in the 2nd quarter worth $26,000. Mizuho Securities Co. Ltd. bought a new position in RTX during the 2nd quarter valued at about $32,000. Fairfield Financial Advisors LTD bought a new position in RTX during the second quarter valued at approximately $41,000. Finally, Alaska Permanent Fund Corp purchased a new position in shares of RTX in the 1st quarter worth $42,000. Institutional investors own 86.50% of the company’s stock.

RTX Trading Up 1.0 %

Shares of RTX traded up $1.24 during mid-day trading on Friday, reaching $124.91. 3,056,543 shares of the company’s stock traded hands, compared to its average volume of 6,964,188. RTX Co. has a 12 month low of $68.56 and a 12 month high of $125.53. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The stock has a market cap of $166.16 billion, a P/E ratio of 48.98, a P/E/G ratio of 2.18 and a beta of 0.82. The stock’s 50-day moving average is $119.11 and its two-hundred day moving average is $108.40.

RTX (NYSE:RTX) last released its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.11. The business had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $1.29 earnings per share. Research analysts forecast that RTX Co. will post 5.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. The Goldman Sachs Group upped their target price on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Wells Fargo & Company dropped their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upgraded RTX from a “sell” rating to a “hold” rating and boosted their price objective for the company from $109.00 to $129.00 in a research report on Thursday. Melius Research increased their target price on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Finally, StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued 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 $161.13.

Insider Buying and Selling

In other news, CEO Christopher T. Calio sold 4,235 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the transaction, the chief executive officer now owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the sale, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction 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. Insiders have sold a total of 178,333 shares of company stock valued at $20,861,880 over the last quarter. 0.13% of the stock is owned by corporate insiders.

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.