Koss Olinger Consulting LLC Takes Position in RTX Co. (NYSE:RTX)

Koss Olinger Consulting LLC acquired a new position in RTX Co. (NYSE:RTX) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 25,811 shares of the company’s stock, valued at approximately $2,591,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lynch & Associates IN boosted its stake in RTX by 2.7% in the second quarter. Lynch & Associates IN now owns 32,602 shares of the company’s stock valued at $3,273,000 after acquiring an additional 851 shares during the last quarter. Certuity LLC lifted its stake in shares of RTX by 46.9% in the 2nd quarter. Certuity LLC now owns 4,591 shares of the company’s stock valued at $461,000 after purchasing an additional 1,466 shares during the period. Acadian Asset Management LLC boosted its position in shares of RTX by 26.4% in the 2nd quarter. Acadian Asset Management LLC now owns 1,700 shares of the company’s stock worth $170,000 after purchasing an additional 355 shares during the last quarter. Fiducient Advisors LLC acquired a new stake in shares of RTX during the second quarter worth $2,415,000. Finally, Asset Dedication LLC bought a new stake in RTX in the second quarter valued at about $2,161,000. 86.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of recent analyst reports. Melius Research raised their target price on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Robert W. Baird lifted their price objective on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a research note on Tuesday, July 30th. The Goldman Sachs Group increased their target price on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, TD Cowen boosted their price target on shares of RTX from $115.00 to $142.00 and gave the company a “buy” rating in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $153.47.

RTX Trading Down 1.0 %

NYSE:RTX opened at $118.44 on Friday. 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 twelve month low of $68.56 and a twelve month high of $123.70. The company has a market cap of $157.55 billion, a P/E ratio of 46.45, a price-to-earnings-growth ratio of 2.13 and a beta of 0.82. The business has a 50 day moving average price of $112.14 and a two-hundred day moving average price of $104.32.

RTX (NYSE:RTX) last announced its earnings results 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 net margin of 3.12% and a return on equity of 11.37%. The business had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. During the same quarter in the prior year, the company posted $1.29 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. As a group, analysts expect that RTX Co. will post 5.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were 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 in the company, valued at $66,725,966.02. The sale was disclosed in a filing with the SEC, which is available through this link. In other RTX news, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred 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 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 quarter, insiders have sold 178,333 shares of company stock worth $20,861,880. Corporate 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.