Prospector Partners LLC Purchases 729 Shares of RTX Co. (NYSE:RTX)

Prospector Partners LLC boosted its holdings in shares of RTX Co. (NYSE:RTX) by 0.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,374 shares of the company’s stock after purchasing an additional 729 shares during the quarter. Prospector Partners LLC’s holdings in RTX were worth $7,868,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in RTX. RFG Advisory LLC raised its holdings in RTX by 96.1% during the 1st quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after buying an additional 19,779 shares during the period. TCW Group Inc. bought a new stake in shares of RTX during the 4th quarter worth approximately $1,912,000. Robinson Smith Wealth Advisors LLC purchased a new position in RTX during the 4th quarter valued at $672,000. Gryphon Financial Partners LLC bought a new position in RTX in the 4th quarter valued at $474,000. Finally, Edge Capital Group LLC increased its stake in RTX by 37.7% in the fourth quarter. Edge Capital Group LLC now owns 188,929 shares of the company’s stock worth $15,896,000 after purchasing an additional 51,735 shares during the period. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Down 0.6 %

Shares of RTX stock opened at $118.15 on Friday. 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 company has a market cap of $157.17 billion, a P/E ratio of 46.33, a PEG ratio of 2.10 and a beta of 0.82. The firm’s 50 day moving average price is $115.87 and its 200-day moving average price is $106.37. RTX Co. has a 52-week low of $68.56 and a 52-week high of $123.70.

RTX (NYSE:RTX) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) 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 business had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. During the same period in the previous year, the company earned $1.29 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, sell-side analysts predict that RTX Co. will post 5.45 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RTX shares. TD Cowen boosted their target price on shares of RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Wells Fargo & Company decreased their price target 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. Robert W. Baird increased their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. 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 issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $157.31.

Insider Activity at RTX

In other news, VP Amy L. Johnson sold 6,734 shares of the business’s 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 sale, the vice president now owns 12,318 shares in the company, valued at $1,402,773.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction that occurred 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 transaction, the vice president now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock valued at $20,861,880 in the last ninety days. Corporate insiders own 0.13% of the company’s stock.

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.