Fortem Financial Group LLC Cuts Stake in RTX Co. (NYSE:RTX)

Fortem Financial Group LLC lowered its position in shares of RTX Co. (NYSE:RTX) by 19.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,389 shares of the company’s stock after selling 570 shares during the period. Fortem Financial Group LLC’s holdings in RTX were worth $240,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in RTX. Capital Research Global Investors increased its stake in shares of RTX by 23.7% during the fourth quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after buying an additional 17,351,313 shares during the period. Capital International Investors grew its stake in RTX by 20.6% in the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after purchasing an additional 11,163,222 shares during the last quarter. Norges Bank purchased a new position in RTX in the fourth quarter valued at about $690,154,000. Massachusetts Financial Services Co. MA grew its stake in RTX by 82.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after purchasing an additional 6,932,011 shares during the last quarter. Finally, Focused Investors Fund L P purchased a new position in RTX in the first quarter valued at about $80,594,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Robert W. Baird lifted their target price on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Susquehanna lifted their target price on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. lifted their target price on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. TD Cowen boosted their price target on RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, The Goldman Sachs Group boosted their price target on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $153.47.

Insider Buying and Selling at RTX

In other RTX news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other RTX news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is owned by company insiders.

RTX Trading Up 0.1 %

RTX stock opened at $121.11 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. RTX Co. has a 52 week low of $68.56 and a 52 week high of $123.70. The company has a market capitalization of $161.02 billion, a price-to-earnings ratio of 47.49, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The stock has a 50-day moving average price of $111.40 and a 200 day moving average price of $103.93.

RTX (NYSE:RTX) last released its earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $19.29 billion. During the same quarter in the previous year, the company posted $1.29 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year. Sell-side analysts anticipate that RTX Co. will post 5.45 EPS for the current 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.