First Foundation Advisors Reduces Stock Position in RTX Co. (NYSE:RTX)

First Foundation Advisors reduced its holdings in shares of RTX Co. (NYSE:RTX) by 9.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,367 shares of the company’s stock after selling 1,029 shares during the quarter. First Foundation Advisors’ holdings in RTX were worth $940,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in RTX. Briaud Financial Planning Inc raised its stake in shares of RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory acquired a new stake in RTX during the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. bought a new position in RTX during the 2nd quarter worth approximately $32,000. Alaska Permanent Fund Corp acquired a new position in shares of RTX in the 1st quarter worth approximately $42,000. Finally, Stephens Consulting LLC increased its holdings in shares of RTX by 34.1% in the 2nd quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock valued at $45,000 after acquiring an additional 114 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on RTX shares. TD Cowen lifted their price objective on shares of RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a report on Friday, July 26th. The Goldman Sachs Group boosted their price objective on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Susquehanna lifted their target price on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Robert W. Baird increased their price target on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Finally, Melius Research upped their price objective on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, RTX has an average rating of “Hold” and an average price target of $153.47.

RTX Price Performance

Shares of RTX stock opened at $121.16 on Tuesday. RTX Co. has a 52 week low of $68.56 and a 52 week high of $123.70. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The company’s 50-day moving average price is $112.58 and its two-hundred day moving average price is $104.64. The stock has a market cap of $161.08 billion, a PE ratio of 47.51, a price-to-earnings-growth ratio of 2.08 and a beta of 0.82.

RTX (NYSE:RTX) last announced its 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 during the quarter, compared to the consensus estimate of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. RTX’s revenue 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. As a group, sell-side analysts anticipate that RTX Co. will post 5.45 EPS for the current fiscal year.

Insider Buying and Selling at RTX

In other RTX news, EVP Dantaya M. Williams sold 17,570 shares of RTX stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the transaction, the executive vice president now owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Dantaya M. Williams sold 17,570 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the transaction, the executive vice president now directly owns 38,855 shares of the company’s stock, valued at $4,463,273.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.96, for a total value of $938,763.36. Following the sale, the vice president now directly owns 45,208 shares of the company’s stock, valued at approximately $5,197,111.68. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock valued at $20,861,880 in the last three months. 0.13% of the stock is currently owned by company insiders.

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.