RTX Co. (NYSE:RTX) Shares Purchased by Granite Bay Wealth Management LLC

Granite Bay Wealth Management LLC boosted its stake in RTX Co. (NYSE:RTX) by 4,270.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 127,652 shares of the company’s stock after acquiring an additional 124,731 shares during the quarter. RTX accounts for about 0.4% of Granite Bay Wealth Management LLC’s portfolio, making the stock its 11th biggest holding. Granite Bay Wealth Management LLC’s holdings in RTX were worth $13,141,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. IMS Capital Management acquired a new stake in RTX in the 2nd quarter valued at $184,000. Pathway Financial Advisers LLC boosted its stake in RTX by 1.5% during the 2nd quarter. Pathway Financial Advisers LLC now owns 25,585 shares of the company’s stock worth $2,561,000 after purchasing an additional 380 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in RTX by 3.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 547,373 shares of the company’s stock worth $54,951,000 after purchasing an additional 19,488 shares during the last quarter. Kimelman & Baird LLC acquired a new stake in RTX during the 2nd quarter worth $46,000. Finally, Gateway Wealth Partners LLC boosted its stake in RTX by 7.5% during the 2nd quarter. Gateway Wealth Partners LLC now owns 4,558 shares of the company’s stock worth $458,000 after purchasing an additional 319 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the topic of several recent research reports. Melius Research boosted their price target on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. The Goldman Sachs Group boosted their price target on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada boosted their price target on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $157.31.

RTX Stock Performance

Shares of RTX opened at $121.14 on Tuesday. The stock has a 50 day moving average price of $117.91 and a 200 day moving average price of $107.74. 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 capitalization of $161.15 billion, a price-to-earnings ratio of 47.51, a price-to-earnings-growth ratio of 2.12 and a beta of 0.82. RTX Co. has a 52-week low of $68.56 and a 52-week high of $123.70.

RTX (NYSE:RTX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share 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%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.29 earnings per share. Research analysts predict that RTX Co. will post 5.45 EPS for the current fiscal year.

Insider Activity

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 sale, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by company insiders.

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.