Kooman & Associates Buys New Shares in RTX Co. (NYSE:RTX)

Kooman & Associates purchased a new stake in RTX Co. (NYSE:RTX) during the second quarter, HoldingsChannel.com reports. The fund purchased 2,199 shares of the company’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in RTX. Briaud Financial Planning Inc boosted its holdings in RTX by 64.1% in the 2nd 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 stake in shares of RTX during the 2nd quarter worth approximately $26,000. Mizuho Securities Co. Ltd. acquired a new position in shares of RTX during the 2nd quarter worth approximately $32,000. Fairman Group LLC acquired a new position in shares of RTX during the 4th quarter worth approximately $38,000. Finally, Beaird Harris Wealth Management LLC raised its position in shares of RTX by 42.2% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock worth $39,000 after purchasing an additional 139 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Down 0.4 %

NYSE:RTX opened at $118.73 on Wednesday. The stock’s fifty day moving average price is $114.49 and its two-hundred day moving average price is $105.68. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The company has a market cap of $157.94 billion, a price-to-earnings ratio of 46.56, a P/E/G ratio of 2.11 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 issued its quarterly earnings data on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business 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 firm’s revenue was up 7.7% compared to the same quarter last year. On average, analysts anticipate that RTX Co. will post 5.45 EPS for the current year.

Insider Activity

In other news, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the transaction, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the transaction, the vice president now owns 12,318 shares in the company, valued at $1,402,773.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the business’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. Insiders sold 178,333 shares of company stock worth $20,861,880 in the last quarter. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

RTX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Susquehanna upped their price target 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. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and upped their price objective for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Finally, TD Cowen upped their target price on shares of RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $157.31.

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.