Axxcess Wealth Management LLC Sells 20,691 Shares of RTX Co. (NYSE:RTX)

Axxcess Wealth Management LLC reduced its position in RTX Co. (NYSE:RTX) by 26.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,648 shares of the company’s stock after selling 20,691 shares during the period. Axxcess Wealth Management LLC’s holdings in RTX were worth $5,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of RTX. Gryphon Financial Partners LLC bought a new position in shares of RTX in the fourth quarter worth about $474,000. Brown Advisory Inc. lifted its stake in shares of RTX by 3.2% during the 4th quarter. Brown Advisory Inc. now owns 291,476 shares of the company’s stock valued at $24,525,000 after buying an additional 8,931 shares in the last quarter. TrinityPoint Wealth LLC raised its holdings in RTX by 8.1% during the fourth quarter. TrinityPoint Wealth LLC now owns 37,374 shares of the company’s stock valued at $3,145,000 after acquiring an additional 2,790 shares during the period. Norges Bank purchased a new position in shares of RTX in the fourth quarter valued at about $690,154,000. Finally, Gladstone Institutional Advisory LLC grew its holdings in RTX by 14.6% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 24,810 shares of the company’s stock valued at $2,088,000 after buying an additional 3,157 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Price Performance

Shares of RTX opened at $119.10 on Tuesday. The business’s 50-day moving average is $114.49 and its two-hundred day moving average is $105.68. The company has a market capitalization of $158.43 billion, a P/E ratio of 46.71, 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 quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $123.70.

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

Analysts Set New Price Targets

A number of research firms recently issued reports on RTX. 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 report on Wednesday, July 24th. Melius Research boosted their price objective on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Susquehanna raised their target price on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. boosted their price target on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $157.31.

Insiders Place Their Bets

In other RTX 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 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 is accessible through the SEC website. In other RTX news, insider Shane G. Eddy sold 6,741 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dantaya M. Williams sold 17,570 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 38,855 shares in the company, valued at approximately $4,463,273.85. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock valued at $20,861,880 in the last three months. 0.13% of the stock is currently owned by insiders.

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.