Fulton Bank N.A. Reduces Holdings in RTX Co. (NYSE:RTX)

Fulton Bank N.A. decreased its holdings in RTX Co. (NYSE:RTX) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,451 shares of the company’s stock after selling 1,014 shares during the quarter. Fulton Bank N.A.’s holdings in RTX were worth $2,720,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RTX. Briaud Financial Planning Inc boosted its holdings in shares of 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 buying an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new stake in RTX during the 2nd quarter worth approximately $26,000. Mizuho Securities Co. Ltd. bought a new stake in RTX during the 2nd quarter worth approximately $32,000. Fairman Group LLC bought a new stake in RTX during the 4th quarter worth approximately $38,000. Finally, Beaird Harris Wealth Management LLC raised its stake in RTX by 42.2% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock worth $39,000 after acquiring an additional 139 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Up 0.1 %

NYSE RTX traded up $0.14 on Monday, hitting $125.05. 4,604,256 shares of the stock were exchanged, compared to its average volume of 6,951,964. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The stock has a fifty day moving average price of $119.11 and a two-hundred day moving average price of $108.59. The firm has a market capitalization of $166.25 billion, a P/E ratio of 48.98, a P/E/G ratio of 2.18 and a beta of 0.82. RTX Co. has a 52-week low of $71.82 and a 52-week high of $125.68.

RTX (NYSE:RTX) last issued its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion during 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 revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.29 earnings per share. Research analysts forecast that RTX Co. will post 5.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Royal Bank of Canada raised their target price on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Melius Research lifted their price objective on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Bank of America upgraded 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 report on Wednesday, July 31st. Susquehanna lifted 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. Finally, StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $161.13.

Insider Activity

In other news, EVP Dantaya M. Williams sold 17,570 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the completion of the sale, the executive vice president now directly owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Dantaya M. Williams sold 17,570 shares of RTX stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the completion of the sale, the executive vice president now owns 38,855 shares of the company’s stock, valued at $4,463,273.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by company 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.