Abbot Financial Management Inc. Reduces Position in RTX Co. (NYSE:RTX)

Abbot Financial Management Inc. trimmed its holdings in RTX Co. (NYSE:RTX) by 3.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,699 shares of the company’s stock after selling 313 shares during the quarter. Abbot Financial Management Inc.’s holdings in RTX were worth $974,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RTX shares. The Goldman Sachs Group upped 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. Melius Research raised their price target on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Wells Fargo & Company reduced their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, StockNews.com raised 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 assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $157.31.

RTX Stock Performance

Shares of NYSE RTX opened at $119.10 on Tuesday. RTX Co. has a 1 year low of $68.56 and a 1 year high of $123.70. 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 has a market capitalization of $158.43 billion, a PE ratio of 46.71, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The company’s fifty day moving average price is $114.49 and its 200 day moving average price is $105.68.

RTX (NYSE:RTX) last released 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 firm had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, research analysts predict that RTX Co. will post 5.45 earnings per share for the current year.

Insiders Place Their Bets

In other RTX news, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction dated Monday, July 29th. The shares were 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 owns 12,318 shares of the company’s stock, valued at $1,402,773.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction that occurred 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 sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction 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 sale, the vice president now owns 12,318 shares in the company, valued at $1,402,773.84. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock valued at $20,861,880 over the last ninety days. Company insiders own 0.13% of the company’s stock.

About RTX

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.