Founders Capital Management Boosts Stock Holdings in RTX Co. (NYSE:RTX)

Founders Capital Management grew its position in shares of RTX Co. (NYSE:RTX) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,395 shares of the company’s stock after buying an additional 608 shares during the quarter. RTX accounts for approximately 4.2% of Founders Capital Management’s investment portfolio, making the stock its 8th biggest holding. Founders Capital Management’s holdings in RTX were worth $6,833,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of RTX. Elgethun Capital Management grew its stake in RTX by 3.8% in the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after buying an additional 85 shares in the last quarter. 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 buying an additional 89 shares in the last quarter. Lazari Capital Management Inc. grew its stake in RTX by 1.6% in the 2nd quarter. Lazari Capital Management Inc. now owns 6,009 shares of the company’s stock valued at $603,000 after buying an additional 95 shares in the last quarter. Motco grew its stake in RTX by 7.2% in the 1st quarter. Motco now owns 1,475 shares of the company’s stock valued at $144,000 after buying an additional 99 shares in the last quarter. Finally, D Orazio & Associates Inc. grew its stake in RTX by 4.0% in the 2nd quarter. D Orazio & Associates Inc. now owns 2,602 shares of the company’s stock valued at $261,000 after buying an additional 99 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Insiders Place Their Bets

In other RTX news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other RTX news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $482,790.00. Following the completion of the sale, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at $10,090,026. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock valued at $20,861,880 over the last three months. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RTX. JPMorgan Chase & Co. lifted their price objective 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. Susquehanna boosted their price target on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research report on Friday, July 26th. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a research report on Tuesday, July 30th. Robert W. Baird boosted their price target on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, TD Cowen boosted their price target on shares of RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $161.13.

RTX Price Performance

Shares of NYSE RTX traded up $0.14 during mid-day trading on Monday, reaching $125.05. 4,488,927 shares of the company were exchanged, compared to its average volume of 6,951,367. RTX Co. has a 52 week low of $71.82 and a 52 week high of $125.68. 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 capitalization of $166.25 billion, a PE ratio of 48.98, a PEG ratio of 2.18 and a beta of 0.82. The company’s 50 day moving average price is $119.11 and its 200 day moving average price is $108.59.

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 the consensus estimate of $1.30 by $0.11. The business had revenue of $19.72 billion during 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%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.29 earnings per share. Sell-side analysts forecast that RTX Co. will post 5.45 earnings per share 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.