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

Mystic Asset Management Inc. cut its stake in shares of RTX Co. (NYSE:RTX) by 0.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,018 shares of the company’s stock after selling 322 shares during the quarter. RTX makes up approximately 1.5% of Mystic Asset Management Inc.’s portfolio, making the stock its 13th biggest position. Mystic Asset Management Inc.’s holdings in RTX were worth $3,817,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Briaud Financial Planning Inc lifted its stake in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Lynx Investment Advisory acquired a new position in RTX during the second quarter worth approximately $26,000. Mizuho Securities Co. Ltd. purchased a new stake in RTX in the second quarter valued at approximately $32,000. Alaska Permanent Fund Corp acquired a new stake in shares of RTX in the first quarter valued at approximately $42,000. Finally, Stephens Consulting LLC grew its position in shares of RTX by 34.1% during the second quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock worth $45,000 after acquiring an additional 114 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Trading Down 0.8 %

Shares of 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 has a market cap of $158.46 billion, a price-to-earnings ratio of 46.71, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The firm has a 50 day simple moving average of $114.11 and a 200-day simple moving average of $105.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last issued its quarterly 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. The business had revenue of $19.72 billion during 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 company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.29 earnings per share. Equities analysts forecast that RTX Co. will post 5.45 EPS for the current fiscal year.

Insider Buying and Selling at RTX

In other news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the sale, the chief executive officer now owns 88,509 shares of the company’s stock, valued at $10,090,026. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shane G. Eddy sold 6,741 shares of the firm’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 disclosure for this sale can be found here. In the last three months, insiders sold 178,333 shares of company stock worth $20,861,880. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RTX shares. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a research report on Tuesday, July 30th. The Goldman Sachs Group increased 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. TD Cowen upped 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. Robert W. Baird raised their target price on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $157.31.

RTX 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.