Bank Pictet & Cie Europe AG Grows Stake in RTX Co. (NYSE:RTX)

Bank Pictet & Cie Europe AG grew its holdings in shares of RTX Co. (NYSE:RTX) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,860 shares of the company’s stock after acquiring an additional 169 shares during the period. Bank Pictet & Cie Europe AG’s holdings in RTX were worth $689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Atlantic Union Bankshares Corp lifted its position in shares of RTX by 123.9% in the second quarter. Atlantic Union Bankshares Corp now owns 86,253 shares of the company’s stock worth $8,659,000 after buying an additional 47,723 shares in the last quarter. McAdam LLC increased its holdings in RTX by 3.3% during the 2nd quarter. McAdam LLC now owns 3,622 shares of the company’s stock worth $364,000 after purchasing an additional 115 shares during the period. LRI Investments LLC raised its holdings in shares of RTX by 8.0% in the second quarter. LRI Investments LLC now owns 72,811 shares of the company’s stock valued at $7,309,000 after acquiring an additional 5,405 shares in the last quarter. TrueWealth Advisors LLC bought a new stake in shares of RTX in the 2nd quarter valued at about $201,000. Finally, Tower Bridge Advisors lifted its holdings in RTX by 1.2% during the second quarter. Tower Bridge Advisors now owns 103,666 shares of the company’s stock worth $10,407,000 after buying an additional 1,222 shares during the period. Institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In other RTX news, 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 value of $773,597.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Shane G. Eddy sold 6,741 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the sale, the vice president now owns 12,318 shares in the company, valued at $1,402,773.84. 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 90 days. 0.13% of the stock is owned by insiders.

RTX Stock Up 0.4 %

Shares of RTX stock traded up $0.50 on Friday, reaching $118.52. 3,427,510 shares of the company were exchanged, compared to its average volume of 7,215,377. The company has a market cap of $157.57 billion, a P/E ratio of 46.48, a price-to-earnings-growth ratio of 2.08 and a beta of 0.82. The stock’s 50 day moving average price is $108.59 and its 200-day moving average price is $102.17. RTX Co. has a 1-year low of $68.56 and a 1-year high of $118.99. 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 (NYSE:RTX) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The business had revenue of $19.72 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.29 EPS. As a group, equities analysts forecast that RTX Co. will post 5.44 EPS for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.13%. RTX’s payout ratio is 98.82%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RTX. Robert W. Baird raised their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. 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 research report on Tuesday, July 30th. Melius Research increased their price objective on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Barclays raised their price objective on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Finally, Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and upped their target price for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $153.47.

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.