New York Life Investment Management LLC Acquires 1,273 Shares of RTX Co. (NYSE:RTX)

New York Life Investment Management LLC raised its stake in shares of RTX Co. (NYSE:RTX) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 183,507 shares of the company’s stock after purchasing an additional 1,273 shares during the period. New York Life Investment Management LLC’s holdings in RTX were worth $18,422,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RTX. RFG Advisory LLC boosted its holdings in RTX by 96.1% in the first quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after acquiring an additional 19,779 shares during the last quarter. TCW Group Inc. bought a new stake in shares of RTX in the 4th quarter valued at $1,912,000. Robinson Smith Wealth Advisors LLC acquired a new stake in shares of RTX during the fourth quarter worth $672,000. Gryphon Financial Partners LLC bought a new position in RTX during the fourth quarter worth $474,000. Finally, Edge Capital Group LLC lifted its holdings in RTX by 37.7% in the fourth quarter. Edge Capital Group LLC now owns 188,929 shares of the company’s stock valued at $15,896,000 after buying an additional 51,735 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at RTX

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction 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 transaction, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the transaction, the vice president now owns 12,318 shares in the company, valued at $1,402,773.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $66,725,966.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 178,333 shares of company stock worth $20,861,880. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

RTX has been the subject of several research analyst reports. Bank of America raised RTX from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Melius Research boosted their price target on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Susquehanna raised their price objective on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. Wells Fargo & Company dropped their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group raised their price target on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Two equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $153.47.

RTX Stock Down 1.0 %

RTX stock opened at $118.47 on Friday. The stock’s 50 day moving average is $112.14 and its 200-day moving average is $104.23. RTX Co. has a twelve month low of $68.56 and a twelve month high of $123.70. The firm has a market capitalization of $157.59 billion, a PE ratio of 46.46, a P/E/G ratio of 2.13 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

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

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.