Fluent Financial LLC Lowers Position in RTX Co. (NYSE:RTX)

Fluent Financial LLC reduced its stake in RTX Co. (NYSE:RTX) by 35.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,011 shares of the company’s stock after selling 1,082 shares during the quarter. Fluent Financial LLC’s holdings in RTX were worth $202,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Parkside Financial Bank & Trust increased its holdings in RTX by 0.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 12,521 shares of the company’s stock worth $1,257,000 after acquiring an additional 102 shares during the last quarter. Hourglass Capital LLC bought a new position in RTX in the 2nd quarter worth about $301,000. Sterling Investment Advisors Ltd. boosted its stake in RTX by 41.0% in the 2nd quarter. Sterling Investment Advisors Ltd. now owns 4,125 shares of the company’s stock worth $414,000 after purchasing an additional 1,200 shares during the period. Hudock Inc. bought a new position in RTX in the 2nd quarter worth about $529,000. Finally, Hohimer Wealth Management LLC boosted its stake in RTX by 14.4% in the 2nd quarter. Hohimer Wealth Management LLC now owns 35,806 shares of the company’s stock worth $3,595,000 after purchasing an additional 4,516 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and lifted their price target for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Melius Research lifted their price target on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. The Goldman Sachs Group lifted their price target on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, Robert W. Baird lifted their price target on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $153.47.

RTX Stock Down 0.5 %

RTX stock traded down $0.54 during mid-day trading on Friday, hitting $119.10. The company had a trading volume of 537,035 shares, compared to its average volume of 7,075,734. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average price is $111.78 and its two-hundred day moving average price is $104.03. RTX Co. has a 12 month low of $68.56 and a 12 month high of $123.70. The company has a market capitalization of $158.34 billion, a PE ratio of 46.64, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last released its earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping the consensus estimate 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 company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.29 earnings per share. As a group, sell-side analysts anticipate that RTX Co. will post 5.45 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Shane G. Eddy sold 6,741 shares of the company’s stock in a transaction 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 SEC, which can be accessed through this hyperlink. In related news, VP Kevin G. Dasilva sold 8,166 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.96, for a total transaction of $938,763.36. Following the completion of the sale, the vice president now owns 45,208 shares in the company, valued at $5,197,111.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Shane G. Eddy sold 6,741 shares of the company’s stock in a transaction on Friday, July 26th. The shares were 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 ninety days. 0.13% of the stock is currently 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.