Amalgamated Bank Lowers Position in RTX Co. (NYSE:RTX)

Amalgamated Bank decreased its stake in shares of RTX Co. (NYSE:RTX) by 4.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 268,527 shares of the company’s stock after selling 12,579 shares during the quarter. Amalgamated Bank’s holdings in RTX were worth $26,957,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. RFG Advisory LLC raised its stake in RTX by 96.1% during the first quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after buying an additional 19,779 shares during the last quarter. TCW Group Inc. purchased a new position in RTX during the fourth quarter valued at $1,912,000. Robinson Smith Wealth Advisors LLC purchased a new position in shares of RTX in the fourth quarter worth $672,000. Gryphon Financial Partners LLC purchased a new position in shares of RTX in the fourth quarter worth $474,000. Finally, Edge Capital Group LLC raised its stake in shares of RTX by 37.7% in the fourth quarter. Edge Capital Group LLC now owns 188,929 shares of the company’s stock worth $15,896,000 after purchasing an additional 51,735 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

NYSE:RTX opened at $118.73 on Wednesday. The stock has a 50-day simple moving average of $114.49 and a two-hundred day simple moving average of $105.68. RTX Co. has a 52-week low of $68.56 and a 52-week high of $123.70. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The firm has a market capitalization of $157.94 billion, a PE ratio of 46.56, a P/E/G ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates 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% on a year-over-year basis. Analysts forecast that RTX Co. will post 5.45 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Robert W. Baird boosted their price target on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Melius Research boosted their price target on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. boosted their price target on 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, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, RTX currently has an average rating of “Hold” and an average price target of $157.31.

Insider Buying and Selling at RTX

In other RTX news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Kevin G. Dasilva sold 8,166 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.96, for a total value of $938,763.36. Following 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was 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. Over the last quarter, insiders sold 178,333 shares of company stock valued at $20,861,880. Company 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.