Sentry Investment Management LLC Lowers Position in RTX Co. (NYSE:RTX)

Sentry Investment Management LLC lowered its position in RTX Co. (NYSE:RTX) by 17.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,852 shares of the company’s stock after selling 2,223 shares during the period. Sentry Investment Management LLC’s holdings in RTX were worth $1,089,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RTX. Alpha Omega Wealth Management LLC grew its stake in RTX by 0.6% in 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 period. Motco raised its holdings in shares of RTX by 7.2% in the 1st quarter. Motco now owns 1,475 shares of the company’s stock worth $144,000 after purchasing 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 valued at $356,000 after purchasing an additional 100 shares during the last quarter. Werlinich Asset Management LLC raised its stake in shares of RTX by 0.4% in 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 period. Finally, Founders Capital Management LLC grew its stake in shares of RTX by 1.2% during the 2nd quarter. Founders Capital Management LLC now owns 8,369 shares of the company’s stock worth $840,000 after acquiring an additional 100 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Down 0.7 %

RTX stock opened at $120.30 on Wednesday. The business has a 50 day moving average of $112.97 and a 200 day moving average of $104.85. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The firm has a market cap of $160.03 billion, a PE ratio of 47.18, a price-to-earnings-growth ratio of 2.08 and a beta of 0.82. RTX Co. has a twelve month low of $68.56 and a twelve month high of $123.70.

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

Insider Buying and Selling

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction on 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 approximately $66,725,966.02. The sale was disclosed in a document filed with the SEC, which is available through this link. In other RTX news, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of 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 accessible through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on RTX shares. Royal Bank of Canada boosted 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. Melius Research boosted their price objective on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and raised their price target for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. Finally, Robert W. Baird upped their target price on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $153.47.

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.