Gabelli Funds LLC Has $5.69 Million Stock Holdings in RTX Co. (NYSE:RTX)

Gabelli Funds LLC boosted its stake in shares of RTX Co. (NYSE:RTX) by 5.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,640 shares of the company’s stock after buying an additional 3,000 shares during the period. Gabelli Funds LLC’s holdings in RTX were worth $5,686,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Gryphon Financial Partners LLC purchased a new position in RTX during the 4th quarter worth approximately $474,000. Congress Wealth Management LLC DE grew its holdings in shares of RTX by 38.3% during the fourth quarter. Congress Wealth Management LLC DE now owns 13,329 shares of the company’s stock valued at $1,122,000 after buying an additional 3,689 shares in the last quarter. JARISLOWSKY FRASER Ltd acquired a new position in RTX during the fourth quarter valued at $656,000. United Services Automobile Association lifted its stake in RTX by 10.1% in the 4th quarter. United Services Automobile Association now owns 42,929 shares of the company’s stock worth $3,612,000 after acquiring an additional 3,936 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its position in RTX by 31.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 164,014 shares of the company’s stock worth $13,800,000 after acquiring an additional 39,671 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RTX. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a report on Tuesday, July 30th. Susquehanna increased their target price on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. lifted 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. Wells Fargo & Company dropped their price target on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada lifted their price objective on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $157.31.

RTX Trading Down 0.2 %

NYSE:RTX opened at $120.05 on Wednesday. The company’s 50 day moving average is $116.57 and its 200-day moving average is $106.90. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. RTX Co. has a 12 month low of $68.56 and a 12 month high of $123.70. The firm has a market cap of $159.70 billion, a price-to-earnings ratio of 47.08, a P/E/G ratio of 2.12 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, topping the consensus estimate of $1.30 by $0.11. The firm had revenue of $19.72 billion for 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 business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.29 EPS. Equities analysts anticipate that RTX Co. will post 5.45 EPS for the current year.

Insider Buying and Selling at RTX

In other news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the transaction, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Amy L. Johnson sold 6,734 shares of the company’s 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction dated Wednesday, July 31st. The stock was 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 in the company, valued at $66,725,966.02. 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 90 days. 0.13% of the stock is currently owned by insiders.

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.