Wellington Shields Capital Management LLC Trims Position in RTX Co. (NYSE:RTX)

Wellington Shields Capital Management LLC lowered its holdings in RTX Co. (NYSE:RTX) by 2.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,772 shares of the company’s stock after selling 614 shares during the period. Wellington Shields Capital Management LLC’s holdings in RTX were worth $2,587,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Gryphon Financial Partners LLC acquired a new stake in shares of RTX in the fourth quarter worth approximately $474,000. Wealthspire Advisors LLC grew its stake in shares of RTX by 8.0% during the 4th quarter. Wealthspire Advisors LLC now owns 19,182 shares of the company’s stock valued at $1,614,000 after buying an additional 1,427 shares during the period. US Asset Management LLC acquired a new stake in shares of RTX during the 4th quarter worth $240,000. Principal Securities Inc. purchased a new position in shares of RTX in the 4th quarter worth $1,685,000. Finally, Iams Wealth Management LLC boosted its holdings in RTX by 2.7% in the fourth quarter. Iams Wealth Management LLC now owns 5,716 shares of the company’s stock valued at $481,000 after acquiring an additional 152 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Up 0.3 %

Shares of RTX stock traded up $0.37 on Friday, hitting $120.01. 177,404 shares of the company’s stock traded hands, compared to its average volume of 7,073,644. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The firm’s 50-day moving average is $111.78 and its 200 day moving average is $104.03. The stock has a market cap of $159.55 billion, a P/E ratio of 46.91, a PEG ratio of 2.17 and a beta of 0.82. RTX Co. has a 52-week low of $68.56 and a 52-week high of $123.70.

RTX (NYSE:RTX) last issued its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 3.12% and a return on equity of 11.37%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.29 EPS. Equities analysts anticipate that RTX Co. will post 5.45 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on RTX shares. 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 report on Friday, July 26th. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and lifted their price target for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. Robert W. Baird increased their price objective on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Melius Research lifted their target price on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Finally, TD Cowen upped their price target on shares of RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $153.47.

Insiders Place Their Bets

In other 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 value of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.96, for a total value of $938,763.36. Following the completion of the transaction, the vice president now directly owns 45,208 shares in the company, valued at $5,197,111.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of the 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 in the company, valued at $66,725,966.02. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock valued at $20,861,880 in the last quarter. 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.