Ellis Investment Partners LLC Lowers Position in RTX Co. (NYSE:RTX)

Ellis Investment Partners LLC cut its holdings in RTX Co. (NYSE:RTX) by 24.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,814 shares of the company’s stock after selling 5,384 shares during the quarter. Ellis Investment Partners LLC’s holdings in RTX were worth $1,688,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Alpha Omega Wealth Management LLC lifted its stake in RTX by 0.6% in the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after acquiring an additional 89 shares during the period. Motco lifted its stake in RTX by 7.2% in the first quarter. Motco now owns 1,475 shares of the company’s stock worth $144,000 after acquiring an additional 99 shares during the period. Enterprise Bank & Trust Co lifted its stake in RTX by 2.9% in the second quarter. Enterprise Bank & Trust Co now owns 3,550 shares of the company’s stock worth $356,000 after acquiring an additional 100 shares during the period. Werlinich Asset Management LLC lifted its position in shares of RTX by 0.4% during the second 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 last quarter. Finally, Founders Capital Management LLC lifted its position in shares of RTX by 1.2% during the second 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 last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on RTX. TD Cowen increased their price target on shares of RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Royal Bank of Canada increased their price target on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Susquehanna increased their price target on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research report on Friday, July 26th. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Finally, Alembic Global Advisors raised shares of 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. 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $153.47.

Insider Buying and Selling

In other news, insider Shane G. Eddy sold 6,741 shares of the firm’s stock in a transaction that occurred on 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 SEC, which is accessible through this hyperlink. In other news, insider Shane G. Eddy sold 6,741 shares of the firm’s stock in a transaction that occurred on 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 SEC, which is accessible through this hyperlink. Also, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at approximately $10,090,026. The disclosure for this sale can be found here. In the last quarter, insiders have sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is owned by company insiders.

RTX Price Performance

Shares of NYSE:RTX opened at $118.44 on Friday. RTX Co. has a twelve month low of $68.56 and a twelve month high of $123.70. The company’s 50 day moving average is $112.14 and its 200 day moving average is $104.32. 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 company has a market cap of $157.55 billion, a PE ratio of 46.45, a price-to-earnings-growth ratio of 2.13 and a beta of 0.82.

RTX (NYSE:RTX) last issued 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. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. During the same quarter in the prior year, the company earned $1.29 EPS. RTX’s quarterly revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts forecast that RTX Co. will post 5.45 EPS for the current year.

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.