Mystic Asset Management Inc. Decreases Stock Position in RTX Co. (NYSE:RTX)

Mystic Asset Management Inc. lowered its position in shares of RTX Co. (NYSE:RTX) by 0.8% during the second quarter, HoldingsChannel reports. The firm owned 38,018 shares of the company’s stock after selling 322 shares during the period. RTX accounts for approximately 1.5% of Mystic Asset Management Inc.’s holdings, making the stock its 13th largest holding. Mystic Asset Management Inc.’s holdings in RTX were worth $3,817,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Gryphon Financial Partners LLC purchased a new stake in RTX during the 4th quarter worth approximately $474,000. Financial Advocates Investment Management lifted its stake in RTX by 21.3% during the fourth quarter. Financial Advocates Investment Management now owns 12,709 shares of the company’s stock worth $1,069,000 after purchasing an additional 2,231 shares during the last quarter. Level Four Advisory Services LLC bought a new stake in RTX during the fourth quarter valued at $2,210,000. Brown Advisory Inc. raised its holdings in shares of RTX by 3.2% during the fourth quarter. Brown Advisory Inc. now owns 291,476 shares of the company’s stock worth $24,525,000 after purchasing an additional 8,931 shares during the period. Finally, TrinityPoint Wealth LLC lifted its position in shares of RTX by 8.1% in the 4th quarter. TrinityPoint Wealth LLC now owns 37,374 shares of the company’s stock worth $3,145,000 after buying an additional 2,790 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Price Performance

NYSE RTX opened at $119.12 on Friday. RTX Co. has a 1 year low of $68.56 and a 1 year high of $123.70. The stock’s 50-day moving average price is $114.11 and its two-hundred day moving average price is $105.36. 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 $158.46 billion, a PE ratio of 46.71, a PEG ratio of 2.11 and a beta of 0.82.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RTX shares. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research note on Tuesday, July 30th. TD Cowen increased their price objective on RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Susquehanna increased their target price 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 boosted their price target on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. raised their price objective on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, RTX has an average rating of “Hold” and an average target price of $157.31.

Insider Transactions at RTX

In related news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, VP Kevin G. Dasilva sold 8,166 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.96, for a total value of $938,763.36. Following the completion of the sale, the vice president now directly owns 45,208 shares in the company, valued at $5,197,111.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock valued at $20,861,880 over the last three months. 0.13% of the stock is owned by corporate 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.