Primoris Wealth Advisors LLC Makes New $1.01 Million Investment in RTX Co. (NYSE:RTX)

Primoris Wealth Advisors LLC purchased a new stake in shares of RTX Co. (NYSE:RTX) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 10,014 shares of the company’s stock, valued at approximately $1,005,000.

Several other large investors also recently added to or reduced their stakes in the business. Rice Partnership LLC raised its holdings in shares of RTX by 16.0% during the 2nd quarter. Rice Partnership LLC now owns 41,678 shares of the company’s stock valued at $4,184,000 after buying an additional 5,744 shares in the last quarter. DDD Partners LLC raised its holdings in shares of RTX by 1.1% during the second quarter. DDD Partners LLC now owns 137,104 shares of the company’s stock valued at $13,764,000 after acquiring an additional 1,525 shares in the last quarter. Crestwood Advisors Group LLC lifted its stake in RTX by 10.1% in the second quarter. Crestwood Advisors Group LLC now owns 24,246 shares of the company’s stock worth $2,434,000 after acquiring an additional 2,218 shares during the period. LCM Capital Management Inc increased its position in RTX by 1.3% during the 2nd quarter. LCM Capital Management Inc now owns 10,844 shares of the company’s stock valued at $1,089,000 after purchasing an additional 141 shares during the period. Finally, Financial Counselors Inc. increased its position in RTX by 1.1% during the 2nd quarter. Financial Counselors Inc. now owns 476,890 shares of the company’s stock valued at $47,875,000 after purchasing an additional 5,118 shares during the period. Institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a research note on Tuesday, July 30th. The Goldman Sachs Group lifted their price objective on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Company dropped their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Finally, Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, RTX presently has an average rating of “Hold” and an average price target of $153.47.

RTX Stock Up 0.9 %

Shares of RTX stock traded up $1.05 during mid-day trading on Monday, hitting $123.34. The company’s stock had a trading volume of 6,371,900 shares, compared to its average volume of 7,147,005. The stock has a market cap of $164.07 billion, a price-to-earnings ratio of 48.37, a PEG ratio of 2.17 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 52-week low of $68.56 and a 52-week high of $123.70. The business has a 50-day moving average price of $110.19 and a 200 day moving average price of $103.37.

RTX (NYSE:RTX) last issued 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 return on equity of 11.37% and a net margin of 3.12%. The business had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same quarter in the previous year, the firm earned $1.29 EPS. RTX’s revenue was up 7.7% on a year-over-year basis. Research analysts predict that RTX Co. will post 5.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction dated 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 directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other RTX 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 transaction of $482,790.00. Following the sale, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at $10,090,026. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was 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 approximately $66,725,966.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 178,333 shares of company stock worth $20,861,880. Company insiders own 0.13% of the company’s stock.

RTX Company 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.