Ellis Investment Partners LLC Sells 5,384 Shares of RTX Co. (NYSE:RTX)

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

Other institutional investors have also recently made changes to their positions in the company. Gryphon Financial Partners LLC bought a new position in shares of RTX during the 4th quarter valued at $474,000. Principal Securities Inc. bought a new position in shares of RTX during the 4th quarter valued at $1,685,000. Johnson Investment Counsel Inc. grew its holdings in shares of RTX by 5.1% during the 4th quarter. Johnson Investment Counsel Inc. now owns 32,486 shares of the company’s stock valued at $2,733,000 after purchasing an additional 1,574 shares during the last quarter. JFS Wealth Advisors LLC grew its holdings in shares of RTX by 8.8% during the 4th quarter. JFS Wealth Advisors LLC now owns 4,126 shares of the company’s stock valued at $347,000 after purchasing an additional 332 shares during the last quarter. Finally, QRG Capital Management Inc. grew its holdings in shares of RTX by 2.9% during the 4th quarter. QRG Capital Management Inc. now owns 122,464 shares of the company’s stock valued at $10,304,000 after purchasing an additional 3,426 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Trading Down 1.0 %

Shares of RTX opened at $118.44 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $123.70. The stock has a market capitalization of $157.55 billion, a PE ratio of 46.45, a P/E/G ratio of 2.13 and a beta of 0.82. The company’s fifty day moving average is $112.14 and its 200 day moving average is $104.32.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. 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. Melius Research increased their price target on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. JPMorgan Chase & Co. increased their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, The Goldman Sachs Group increased their price target on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $153.47.

Insider Buying and Selling at RTX

In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the transaction, 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 Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the transaction, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Kevin G. Dasilva sold 8,166 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 45,208 shares in the company, valued at $5,197,111.68. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock worth $20,861,880 over the last quarter. Insiders own 0.13% of the company’s stock.

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.