Bahl & Gaynor Inc. Has $80.66 Million Holdings in RTX Co. (NYSE:RTX)

Bahl & Gaynor Inc. decreased its holdings in shares of RTX Co. (NYSE:RTX) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 803,419 shares of the company’s stock after selling 14,359 shares during the quarter. Bahl & Gaynor Inc.’s holdings in RTX were worth $80,655,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Capital Research Global Investors grew its holdings in RTX by 4.2% during the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after acquiring an additional 3,761,246 shares during the period. Capital International Investors grew its stake in shares of RTX by 4.8% during the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after purchasing an additional 3,161,165 shares during the period. Clearbridge Investments LLC increased its holdings in RTX by 2.0% in the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after purchasing an additional 213,331 shares during the last quarter. Sanders Capital LLC lifted its stake in RTX by 6.8% in the fourth quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock valued at $898,147,000 after buying an additional 677,520 shares during the period. Finally, Norges Bank bought a new position in RTX during the fourth quarter worth about $690,154,000. 86.50% of the stock is owned by institutional investors.

RTX Trading Down 0.7 %

Shares of NYSE:RTX opened at $120.30 on Wednesday. The company’s 50-day moving average price is $112.97 and its two-hundred day moving average price is $104.85. RTX Co. has a one year low of $68.56 and a one year high of $123.70. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The stock has a market capitalization of $160.03 billion, a PE ratio of 47.18, a price-to-earnings-growth ratio of 2.08 and a beta of 0.82.

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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Susquehanna increased their price target on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research report on Friday, July 26th. 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. Robert W. Baird boosted their price target on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Royal Bank of Canada raised their price objective on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Finally, Bank of America raised RTX from a “neutral” rating to a “buy” rating and boosted their target price for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $153.47.

Insider Activity

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, 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 transaction 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 document filed with the SEC, which is available through this link. Also, EVP Dantaya M. Williams sold 17,570 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the completion of the sale, the executive vice president now directly 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 90 days, insiders sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is owned by insiders.

About RTX

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.