Bahl & Gaynor Inc. Has $80.66 Million Stake in RTX Co. (NYSE:RTX)

Bahl & Gaynor Inc. reduced its stake in RTX Co. (NYSE:RTX) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 803,419 shares of the company’s stock after selling 14,359 shares during the quarter. Bahl & Gaynor Inc. owned approximately 0.06% of RTX worth $80,655,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Briaud Financial Planning Inc lifted its stake in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Lynx Investment Advisory acquired a new position in shares of RTX during the 2nd quarter worth about $26,000. Mizuho Securities Co. Ltd. bought a new stake in RTX during the 2nd quarter valued at approximately $32,000. Fairman Group LLC acquired a new stake in RTX in the 4th quarter valued at approximately $38,000. Finally, Beaird Harris Wealth Management LLC increased its position in RTX by 42.2% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock worth $39,000 after buying an additional 139 shares during the period. Institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. TD Cowen raised their price objective on shares of RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. boosted their price objective on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Royal Bank of Canada lifted their target price on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Finally, Melius Research raised their price objective on RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Two 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. According to data from MarketBeat, RTX presently has an average rating of “Hold” and an average target price of $153.47.

Insider Buying and Selling

In other RTX news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other RTX news, insider Shane G. Eddy sold 6,741 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the chairman now 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 a total of 178,333 shares of company stock worth $20,861,880 in the last three months. Insiders own 0.13% of the company’s stock.

RTX Stock Down 0.7 %

Shares of NYSE RTX opened at $120.30 on Wednesday. The business has a fifty day moving average of $112.97 and a two-hundred day moving average of $104.85. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a 52-week low of $68.56 and a 52-week high of $123.70. The stock has a market cap of $160.03 billion, a PE ratio of 47.18, a PEG ratio of 2.08 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion for 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 company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.29 earnings per share. As a group, equities research analysts expect that RTX Co. will post 5.45 earnings per share for the current fiscal year.

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.