MBB Public Markets I LLC Buys 90,511 Shares of RTX Co. (NYSE:RTX)

MBB Public Markets I LLC raised its stake in RTX Co. (NYSE:RTX) by 2,154.5% during the second quarter, HoldingsChannel.com reports. The fund owned 94,712 shares of the company’s stock after acquiring an additional 90,511 shares during the quarter. MBB Public Markets I LLC’s holdings in RTX were worth $9,508,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of RTX. Briaud Financial Planning Inc increased its position in shares of RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory acquired a new stake in shares of RTX during the second quarter worth approximately $26,000. Mizuho Securities Co. Ltd. bought a new position in shares of RTX in the second quarter valued at approximately $32,000. Fairman Group LLC acquired a new position in shares of RTX in the 4th quarter worth approximately $38,000. Finally, Beaird Harris Wealth Management LLC grew its position in RTX by 42.2% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock worth $39,000 after acquiring an additional 139 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Performance

Shares of NYSE:RTX opened at $120.32 on Friday. The firm’s 50 day simple moving average is $117.22 and its 200 day simple moving average is $107.09. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $123.70. The company has a market capitalization of $160.05 billion, a price-to-earnings ratio of 47.18, a P/E/G ratio of 2.11 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.11. The company had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 EPS. As a group, sell-side analysts forecast that RTX Co. will post 5.45 earnings per share for the current year.

Insider Activity

In other news, VP Kevin G. Dasilva sold 8,166 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 45,208 shares in the company, valued at $5,197,111.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Kevin G. Dasilva sold 8,166 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.96, for a total transaction of $938,763.36. Following the completion of the transaction, the vice president now directly owns 45,208 shares in the company, valued at $5,197,111.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the sale, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock worth $20,861,880 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on RTX shares. 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. Melius Research increased their price objective on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. JPMorgan Chase & Co. upped their target price on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Robert W. Baird raised their price target on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $157.31.

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.