CapWealth Advisors LLC Sells 4,208 Shares of RTX Co. (NYSE:RTX)

CapWealth Advisors LLC decreased its stake in shares of RTX Co. (NYSE:RTX) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 278,029 shares of the company’s stock after selling 4,208 shares during the period. RTX accounts for 3.5% of CapWealth Advisors LLC’s investment portfolio, making the stock its 5th biggest position. CapWealth Advisors LLC’s holdings in RTX were worth $27,911,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hudock Inc. acquired a new stake in RTX during the second quarter worth approximately $529,000. Hohimer Wealth Management LLC lifted its stake in shares of RTX by 14.4% during the 2nd quarter. Hohimer Wealth Management LLC now owns 35,806 shares of the company’s stock worth $3,595,000 after purchasing an additional 4,516 shares during the period. Nicholas Hoffman & Company LLC. boosted its holdings in shares of RTX by 2.0% during the second quarter. Nicholas Hoffman & Company LLC. now owns 16,171 shares of the company’s stock worth $1,623,000 after purchasing an additional 319 shares during the last quarter. Pursue Wealth Partners LLC purchased a new stake in shares of RTX in the second quarter valued at $216,000. Finally, Belpointe Asset Management LLC increased its stake in RTX by 109.1% in the second quarter. Belpointe Asset Management LLC now owns 28,836 shares of the company’s stock valued at $2,895,000 after purchasing an additional 15,047 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Down 1.2 %

Shares of NYSE:RTX opened at $119.63 on Friday. The company has a 50 day moving average of $111.78 and a two-hundred day moving average of $104.03. RTX Co. has a 52-week low of $68.56 and a 52-week high of $123.70. 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 $159.05 billion, a price-to-earnings ratio of 46.91, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82.

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

Analyst Ratings Changes

A number of research firms have recently commented on RTX. Royal Bank of Canada upped their price objective on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. The Goldman Sachs Group increased 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. Wells Fargo & Company lowered their price objective 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. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a research report on Tuesday, July 30th. Finally, Bank of America raised RTX from a “neutral” rating to a “buy” rating and boosted their price target for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $153.47.

Insider Transactions at RTX

In other RTX news, EVP Dantaya M. Williams sold 17,570 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was 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 approximately $4,463,273.85. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Dantaya M. Williams sold 17,570 shares of the business’s stock in a transaction dated 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 completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction dated 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. Over the last ninety days, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by 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.