Founders Capital Management Acquires 608 Shares of RTX Co. (NYSE:RTX)

Founders Capital Management grew its position in RTX Co. (NYSE:RTX) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,395 shares of the company’s stock after purchasing an additional 608 shares during the quarter. RTX comprises approximately 4.2% of Founders Capital Management’s investment portfolio, making the stock its 8th biggest position. Founders Capital Management’s holdings in RTX were worth $6,833,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Gabelli Funds LLC boosted its stake in shares of RTX by 60.7% in the fourth quarter. Gabelli Funds LLC now owns 31,840 shares of the company’s stock valued at $2,679,000 after buying an additional 12,025 shares during the period. Waterloo Capital L.P. bought a new stake in shares of RTX in the fourth quarter valued at approximately $218,000. Sei Investments Co. boosted its stake in shares of RTX by 10.2% in the fourth quarter. Sei Investments Co. now owns 655,081 shares of the company’s stock valued at $55,118,000 after buying an additional 60,654 shares during the period. XML Financial LLC boosted its stake in shares of RTX by 4.6% in the fourth quarter. XML Financial LLC now owns 76,021 shares of the company’s stock valued at $6,396,000 after buying an additional 3,310 shares during the period. Finally, State of Tennessee Treasury Department boosted its stake in shares of RTX by 7.7% in the fourth quarter. State of Tennessee Treasury Department now owns 446,766 shares of the company’s stock valued at $37,591,000 after buying an additional 31,845 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Activity at RTX

In related news, insider Shane G. Eddy sold 6,741 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total value 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is owned by corporate insiders.

RTX Stock Up 0.1 %

Shares of RTX stock traded up $0.14 on Monday, reaching $125.05. 4,488,927 shares of the company were exchanged, compared to its average volume of 6,951,367. The company has a market cap of $166.25 billion, a price-to-earnings ratio of 48.98, a PEG ratio of 2.18 and a beta of 0.82. The company has a 50-day moving average of $119.11 and a 200-day moving average of $108.59. 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 Co. has a one year low of $71.82 and a one year high of $125.68.

RTX (NYSE:RTX) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The company had revenue of $19.72 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm earned $1.29 EPS. Analysts anticipate that RTX Co. will post 5.45 earnings per share for the current year.

Analyst Ratings Changes

RTX has been the subject of several recent research reports. Wells Fargo & Company cut their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a research note on Tuesday, July 30th. The Goldman Sachs Group increased their price target on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Susquehanna increased their price target on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Finally, Melius Research increased their price target on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $161.13.

RTX Company 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.