Legacy Advisors LLC Acquires 1,495 Shares of RTX Co. (NYSE:RTX)

Legacy Advisors LLC grew its holdings in shares of RTX Co. (NYSE:RTX) by 41.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,142 shares of the company’s stock after buying an additional 1,495 shares during the quarter. Legacy Advisors LLC’s holdings in RTX were worth $516,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of RTX. Briaud Financial Planning Inc grew its stake 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 acquired a new position in RTX during the second quarter worth $26,000. Fairman Group LLC bought a new stake in RTX during the fourth quarter worth $38,000. Beaird Harris Wealth Management LLC lifted its stake in RTX by 42.2% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock valued at $39,000 after acquiring an additional 139 shares during the last quarter. Finally, USA Financial Formulas grew its position in shares of RTX by 510.3% in the 4th quarter. USA Financial Formulas now owns 476 shares of the company’s stock valued at $40,000 after acquiring an additional 398 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 17,570 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $4,463,273.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the firm’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 sale, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The sale was disclosed in a document filed 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 transaction of $2,018,265.90. Following the transaction, the executive vice president now owns 38,855 shares of the company’s stock, valued at $4,463,273.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by corporate insiders.

RTX Price Performance

Shares of NYSE:RTX traded up $1.05 during trading on Friday, reaching $123.34. 6,371,993 shares of the company traded hands, compared to its average volume of 7,146,997. 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 firm has a market capitalization of $163.98 billion, a PE ratio of 48.38, a PEG ratio of 2.09 and a beta of 0.82. The company’s 50 day moving average is $110.19 and its two-hundred day moving average is $103.20.

RTX (NYSE:RTX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) 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 firm had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.29 earnings per share. As a group, sell-side analysts predict that RTX Co. will post 5.45 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s payout ratio is presently 98.82%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RTX shares. StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a research note on Thursday. Wells Fargo & Company reduced their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Susquehanna increased their price target on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research note on Friday, July 26th. TD Cowen raised their price target on RTX from $115.00 to $142.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Robert W. Baird upped their price objective on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $153.47.

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.