Abbot Financial Management Inc. Trims Stock Position in RTX Co. (NYSE:RTX)

Abbot Financial Management Inc. decreased its position in RTX Co. (NYSE:RTX) by 3.1% during the 2nd quarter, Holdings Channel reports. The fund owned 9,699 shares of the company’s stock after selling 313 shares during the quarter. Abbot Financial Management Inc.’s holdings in RTX were worth $974,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Briaud Financial Planning Inc increased its position in RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the period. Lynx Investment Advisory purchased a new position in RTX in the second quarter worth $26,000. Mizuho Securities Co. Ltd. acquired a new stake in RTX in the second quarter valued at $32,000. Fairfield Financial Advisors LTD purchased a new stake in shares of RTX during the 2nd quarter worth $41,000. Finally, Alaska Permanent Fund Corp purchased a new stake in shares of RTX during the 1st quarter worth $42,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at RTX

In related news, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at $10,090,026. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the sale, the vice president now owns 12,318 shares in the company, valued at approximately $1,402,773.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the transaction, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock worth $20,861,880 in the last three months. Company insiders own 0.13% of the company’s stock.

RTX Stock Down 0.0 %

RTX stock opened at $119.10 on Tuesday. The company has a 50 day moving average price of $114.49 and a two-hundred day moving average price of $105.68. 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 stock has a market capitalization of $158.43 billion, a P/E ratio of 46.71, a PEG ratio of 2.11 and a beta of 0.82. RTX Co. has a one year low of $68.56 and a one year high of $123.70.

RTX (NYSE:RTX) last announced 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. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. During the same quarter in the previous year, the business earned $1.29 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, sell-side analysts expect that RTX Co. will post 5.45 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Royal Bank of Canada raised their price objective on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. upped their price target on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Robert W. Baird lifted their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, Melius Research upped their target price on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, RTX presently has an average rating of “Hold” and a consensus target price of $157.31.

About RTX

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.