Ellerson Group Inc. ADV Increases Position in RTX Co. (NYSE:RTX)

Ellerson Group Inc. ADV grew its position in shares of RTX Co. (NYSE:RTX) by 1,122.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,099 shares of the company’s stock after buying an additional 24,883 shares during the quarter. RTX accounts for 2.1% of Ellerson Group Inc. ADV’s portfolio, making the stock its 20th largest position. Ellerson Group Inc. ADV’s holdings in RTX were worth $2,720,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Gryphon Financial Partners LLC purchased a new position in RTX during the fourth quarter valued at $474,000. USA Financial Formulas lifted its holdings in RTX by 510.3% during the 4th quarter. USA Financial Formulas now owns 476 shares of the company’s stock valued at $40,000 after buying an additional 398 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of RTX by 8.6% in the 4th quarter. Principal Financial Group Inc. now owns 1,912,702 shares of the company’s stock valued at $160,935,000 after purchasing an additional 150,760 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of RTX by 1.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 13,428 shares of the company’s stock valued at $1,130,000 after purchasing an additional 135 shares in the last quarter. Finally, Partnership Wealth Management LLC bought a new stake in shares of RTX in the 4th quarter valued at about $248,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

NYSE:RTX opened at $121.47 on Tuesday. The company’s 50-day moving average price is $112.58 and its 200-day moving average price is $104.64. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The company has a market cap of $161.50 billion, a P/E ratio of 47.51, a P/E/G ratio of 2.08 and a beta of 0.82. RTX Co. has a twelve month low of $68.56 and a twelve month high of $123.70.

RTX (NYSE:RTX) last issued its earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. During the same period in the previous year, the firm earned $1.29 earnings per share. RTX’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, sell-side analysts forecast that RTX Co. will post 5.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RTX has been the subject of several recent analyst reports. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday. TD Cowen boosted their target price 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. Royal Bank of Canada boosted their target price on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Melius Research boosted their target price on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Two 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $153.47.

Insider Buying and Selling at RTX

In other RTX news, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the sale, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other RTX news, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the sale, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction dated 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 sale, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock worth $20,861,880 over the last three months. Insiders own 0.13% of the company’s stock.

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.