RTX Co. (NYSE:RTX) Stock Position Decreased by Clearbridge Investments LLC

Clearbridge Investments LLC cut its position in shares of RTX Co. (NYSE:RTX) by 6.2% in the second quarter, Holdings Channel reports. The firm owned 10,263,095 shares of the company’s stock after selling 675,560 shares during the period. RTX accounts for 0.8% of Clearbridge Investments LLC’s investment portfolio, making the stock its 17th largest holding. Clearbridge Investments LLC’s holdings in RTX were worth $1,030,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in RTX. Eagle Asset Management Inc. raised its stake in shares of RTX by 3.5% during the 4th quarter. Eagle Asset Management Inc. now owns 56,401 shares of the company’s stock worth $4,746,000 after purchasing an additional 1,909 shares in the last quarter. KBC Group NV raised its stake in shares of RTX by 7.5% in the 4th quarter. KBC Group NV now owns 98,099 shares of the company’s stock valued at $8,254,000 after acquiring an additional 6,851 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of RTX by 4.1% in the 4th quarter. Jones Financial Companies Lllp now owns 148,192 shares of the company’s stock valued at $12,469,000 after acquiring an additional 5,793 shares in the last quarter. NEOS Investment Management LLC raised its stake in shares of RTX by 36.5% in the 4th quarter. NEOS Investment Management LLC now owns 20,367 shares of the company’s stock valued at $1,714,000 after acquiring an additional 5,445 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its stake in shares of RTX by 7.0% in the 4th quarter. Rafferty Asset Management LLC now owns 360,036 shares of the company’s stock valued at $30,293,000 after acquiring an additional 23,662 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RTX. TD Cowen raised their price objective on RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research note on Friday, July 26th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. The Goldman Sachs Group lifted their price target on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research report on Tuesday, July 30th. Finally, Melius Research lifted their price target on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $157.31.

Insider Buying and Selling at RTX

In other RTX news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction on Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the transaction, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is currently owned by insiders.

RTX Price Performance

Shares of RTX stock opened at $121.14 on Tuesday. The stock’s fifty day simple moving average is $117.91 and its 200 day simple moving average is $107.74. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The firm has a market cap of $161.15 billion, a price-to-earnings ratio of 47.51, a P/E/G ratio of 2.12 and a beta of 0.82. RTX Co. has a one year low of $68.56 and a one year high of $123.70.

RTX (NYSE:RTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.41 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 analyst estimates of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. RTX’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.29 EPS. On average, analysts expect that RTX Co. will post 5.45 earnings per share for the current fiscal year.

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.