Parkside Financial Bank & Trust Boosts Stock Holdings in RTX Co. (NYSE:RTX)

Parkside Financial Bank & Trust grew its stake in shares of RTX Co. (NYSE:RTX) by 0.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,521 shares of the company’s stock after buying an additional 102 shares during the period. Parkside Financial Bank & Trust’s holdings in RTX were worth $1,257,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in RTX. Hourglass Capital LLC purchased a new position in shares of RTX in the 2nd quarter worth about $301,000. Sterling Investment Advisors Ltd. increased its position in RTX by 41.0% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 4,125 shares of the company’s stock worth $414,000 after purchasing an additional 1,200 shares in the last quarter. Hudock Inc. purchased a new position in RTX in the second quarter valued at approximately $529,000. Hohimer Wealth Management LLC grew its stake in RTX by 14.4% during the second quarter. Hohimer Wealth Management LLC now owns 35,806 shares of the company’s stock worth $3,595,000 after buying an additional 4,516 shares during the period. Finally, Nicholas Hoffman & Company LLC. increased its position in shares of RTX by 2.0% in the second quarter. Nicholas Hoffman & Company LLC. now owns 16,171 shares of the company’s stock worth $1,623,000 after acquiring an additional 319 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Friday. Susquehanna raised their target price on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a report on Friday, July 26th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and upped their price target for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group lifted their price objective on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $153.47.

RTX Stock Down 0.6 %

NYSE RTX traded down $0.69 on Friday, hitting $118.95. 618,148 shares of the stock traded hands, compared to its average volume of 7,075,734. The company has a market capitalization of $158.14 billion, a P/E ratio of 46.91, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The stock has a 50-day moving average of $111.78 and a 200 day moving average of $104.03. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. RTX Co. has a twelve month low of $68.56 and a twelve month high of $123.70.

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 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 firm had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. During the same period last year, the business posted $1.29 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, analysts expect that RTX Co. will post 5.45 earnings per share for the current fiscal year.

Insider Activity

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction on 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 sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Dantaya M. Williams sold 17,570 shares of the business’s stock in a transaction on Friday, July 26th. The shares were 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 directly owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. The disclosure for this sale can be found here. In the last three months, insiders sold 178,333 shares of company stock valued at $20,861,880. Company insiders own 0.13% of the company’s stock.

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.