Naviter Wealth LLC Boosts Stake in RTX Co. (NYSE:RTX)

Naviter Wealth LLC lifted its position in RTX Co. (NYSE:RTX) by 2.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,482 shares of the company’s stock after buying an additional 480 shares during the quarter. Naviter Wealth LLC’s holdings in RTX were worth $1,956,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RTX. Vestmark Advisory Solutions Inc. increased its holdings in RTX by 2.4% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 9,714 shares of the company’s stock worth $817,000 after purchasing an additional 232 shares during the period. National Bank of Canada FI raised its stake in shares of RTX by 17.6% during the 4th quarter. National Bank of Canada FI now owns 519,666 shares of the company’s stock worth $44,269,000 after buying an additional 77,647 shares in the last quarter. W.H. Cornerstone Investments Inc. purchased a new position in shares of RTX during the 4th quarter worth approximately $215,000. Private Advisor Group LLC raised its stake in shares of RTX by 3.6% during the 4th quarter. Private Advisor Group LLC now owns 175,051 shares of the company’s stock worth $14,730,000 after buying an additional 6,149 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its stake in shares of RTX by 74.6% during the 4th quarter. Apollon Wealth Management LLC now owns 57,791 shares of the company’s stock worth $4,863,000 after buying an additional 24,695 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Down 1.5 %

NYSE:RTX traded down $1.87 during mid-day trading on Tuesday, hitting $121.47. The company had a trading volume of 983,906 shares, compared to its average volume of 7,110,537. The business has a fifty day simple moving average of $110.62 and a 200-day simple moving average of $103.59. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. RTX Co. has a 1 year low of $68.56 and a 1 year high of $123.70. The firm has a market capitalization of $161.58 billion, a price-to-earnings ratio of 47.72, a PEG ratio of 2.17 and a beta of 0.82.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Wells Fargo & Company dropped their price objective 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 raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research note 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. TD Cowen raised their price objective on RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Melius Research raised their price objective on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $153.47.

Insider Buying and Selling

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction that occurred on 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 sale, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction that occurred on 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 sale, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Dantaya M. Williams sold 17,570 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.87, for a total value of $2,018,265.90. Following the sale, the executive vice president now owns 38,855 shares in the company, valued at $4,463,273.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is currently owned by corporate insiders.

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.