Oppenheimer Asset Management Inc. Purchases 54,290 Shares of RTX Co. (NYSE:RTX)

Oppenheimer Asset Management Inc. boosted its position in RTX Co. (NYSE:RTX) by 8.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 663,318 shares of the company’s stock after buying an additional 54,290 shares during the quarter. RTX makes up approximately 0.9% of Oppenheimer Asset Management Inc.’s portfolio, making the stock its 16th biggest position. Oppenheimer Asset Management Inc.’s holdings in RTX were worth $66,590,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in RTX. Capital Research Global Investors grew its holdings in shares of RTX by 23.7% during the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after purchasing an additional 17,351,313 shares during the last quarter. Capital International Investors grew its stake in shares of RTX by 20.6% during the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after buying an additional 11,163,222 shares during the last quarter. Norges Bank purchased a new position in shares of RTX in the fourth quarter worth about $690,154,000. Focused Investors Fund L P bought a new stake in shares of RTX in the 1st quarter valued at about $80,594,000. Finally, Sanders Capital LLC boosted its holdings in RTX by 6.8% during the 4th quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock valued at $898,147,000 after acquiring an additional 677,520 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RTX. Bank of America upgraded 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. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Susquehanna raised their price target on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Wells Fargo & Company decreased their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, RTX has an average rating of “Hold” and a consensus price target of $157.31.

Insider Buying and Selling at RTX

In other news, VP Amy L. Johnson sold 6,734 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the sale, the vice president now directly owns 12,318 shares of the company’s stock, valued at approximately $1,402,773.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction on 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 transaction, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated 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 owns 566,723 shares in the company, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 178,333 shares of company stock valued at $20,861,880. Corporate insiders own 0.13% of the company’s stock.

RTX Price Performance

Shares of RTX stock opened at $119.12 on Friday. The business’s fifty day moving average is $114.11 and its 200 day moving average is $105.26. 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 stock has a market cap of $158.37 billion, a price-to-earnings ratio of 46.71, a PEG ratio of 2.10 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 earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping 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 firm had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. During the same period in the prior year, the firm earned $1.29 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. Research analysts expect that RTX Co. will post 5.45 EPS for the current fiscal 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.