Ellerson Group Inc. ADV Raises Stock Position in RTX Co. (NYSE:RTX)

Ellerson Group Inc. ADV lifted its stake in shares of RTX Co. (NYSE:RTX) by 1,122.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,099 shares of the company’s stock after buying an additional 24,883 shares during the quarter. RTX makes up approximately 2.1% of Ellerson Group Inc. ADV’s portfolio, making the stock its 20th biggest position. Ellerson Group Inc. ADV’s holdings in RTX were worth $2,720,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in RTX. Briaud Financial Planning Inc boosted its holdings in RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new position in RTX in the second quarter worth $26,000. Mizuho Securities Co. Ltd. purchased a new position in RTX in the second quarter worth $32,000. Alaska Permanent Fund Corp purchased a new position in RTX in the first quarter worth $42,000. Finally, Stephens Consulting LLC increased its position in shares of RTX by 34.1% in the second quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock valued at $45,000 after buying an additional 114 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of analyst reports. Wells Fargo & Company decreased their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. TD Cowen raised their target price on RTX from $115.00 to $142.00 and gave the company a “buy” rating in a report on Friday, July 26th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a report on Friday. Finally, Robert W. Baird lifted their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $153.47.

RTX Price Performance

RTX stock opened at $121.47 on Tuesday. The company has a market capitalization of $161.50 billion, a price-to-earnings ratio of 47.51, a PEG ratio of 2.08 and a beta of 0.82. RTX Co. has a 12 month low of $68.56 and a 12 month high of $123.70. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average is $112.58 and its 200-day moving average is $104.64.

RTX (NYSE:RTX) last issued its 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 return on equity of 11.37% and a net margin of 3.12%. The firm had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. During the same quarter last year, the business posted $1.29 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. Equities research analysts expect that RTX Co. will post 5.45 EPS for the current year.

Insider Activity

In other RTX news, EVP Dantaya M. Williams sold 17,570 shares of RTX stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the completion of the transaction, the executive vice president now owns 38,855 shares in the company, valued at approximately $4,463,273.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Dantaya M. Williams sold 17,570 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the completion of the transaction, the executive vice president now directly owns 38,855 shares in the company, valued at approximately $4,463,273.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shane G. Eddy sold 6,741 shares of the company’s stock in a transaction 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 sold a total of 178,333 shares of company stock worth $20,861,880 in the last three months. Company 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.