RTX Co. (NYSE:RTX) Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. lessened its stake in shares of RTX Co. (NYSE:RTX) by 7.9% during the second quarter, Holdings Channel.com reports. The fund owned 3,296 shares of the company’s stock after selling 282 shares during the period. Wrapmanager Inc.’s holdings in RTX were worth $331,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RTX. Capital Research Global Investors increased its position 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 period. Capital International Investors boosted its stake in 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 in the last quarter. Norges Bank acquired a new position in RTX during the fourth quarter worth about $690,154,000. Focused Investors Fund L P bought a new stake in RTX in the first quarter worth about $80,594,000. Finally, Sanders Capital LLC lifted its holdings in RTX by 6.8% in 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 last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Melius Research upped their price target on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. The Goldman Sachs Group raised their price objective on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Finally, StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $157.31.

RTX Stock Performance

Shares of RTX opened at $119.12 on Friday. The company has a market capitalization of $158.46 billion, a PE ratio of 46.71, a PEG ratio of 2.11 and a beta of 0.82. 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 company’s 50 day moving average price is $114.11 and its 200 day moving average price is $105.36. RTX Co. has a 52 week low of $68.56 and a 52 week high of $123.70.

RTX (NYSE:RTX) last posted its quarterly 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. The business had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. RTX’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.29 earnings per share. Research analysts expect that RTX Co. will post 5.45 EPS for the current fiscal year.

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.