Great Lakes Advisors LLC Sells 21,920 Shares of RTX Co. (NYSE:RTX)

Great Lakes Advisors LLC cut its holdings in RTX Co. (NYSE:RTX) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 987,354 shares of the company’s stock after selling 21,920 shares during the period. Great Lakes Advisors LLC’s holdings in RTX were worth $99,121,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Alpha Omega Wealth Management LLC grew its holdings in RTX by 0.6% during the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock valued at $1,518,000 after purchasing an additional 89 shares during the last quarter. Motco grew its holdings in RTX by 7.2% during the 1st quarter. Motco now owns 1,475 shares of the company’s stock valued at $144,000 after purchasing an additional 99 shares during the last quarter. Enterprise Bank & Trust Co grew its holdings in RTX by 2.9% during the 2nd quarter. Enterprise Bank & Trust Co now owns 3,550 shares of the company’s stock valued at $356,000 after purchasing an additional 100 shares during the last quarter. Werlinich Asset Management LLC boosted its position in RTX by 0.4% in the 2nd quarter. Werlinich Asset Management LLC now owns 26,814 shares of the company’s stock valued at $2,698,000 after buying an additional 100 shares during the period. Finally, Founders Capital Management LLC boosted its position in RTX by 1.2% in the 2nd quarter. Founders Capital Management LLC now owns 8,369 shares of the company’s stock valued at $840,000 after buying an additional 100 shares during the period. 86.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other RTX news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction dated Wednesday, July 31st. The shares were 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 of the company’s stock, valued at $66,725,966.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 178,333 shares of company stock worth $20,861,880. Insiders own 0.13% of the company’s stock.

RTX Price Performance

Shares of NYSE:RTX traded down $1.20 during midday trading on Friday, hitting $118.44. The company’s stock had a trading volume of 3,983,706 shares, compared to its average volume of 7,095,772. The business’s 50 day simple moving average is $112.14 and its 200 day simple moving average is $104.23. 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 company has a market cap of $157.55 billion, a P/E ratio of 46.46, a price-to-earnings-growth ratio of 2.13 and a beta of 0.82. RTX Co. has a 12-month low of $68.56 and a 12-month high of $123.70.

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

Analyst Upgrades and Downgrades

RTX has been the subject of several research reports. Wells Fargo & Company lowered their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Melius Research upped their price target on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Royal Bank of Canada upped their price target on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. upped their price target on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Two equities 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price 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.