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

Amalgamated Bank cut its stake in shares of RTX Co. (NYSE:RTX) by 4.5% during the second quarter, HoldingsChannel reports. The firm 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.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Meiji Yasuda Asset Management Co Ltd. raised its position in RTX by 8.0% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 22,476 shares of the company’s stock valued at $2,256,000 after purchasing an additional 1,668 shares during the period. Meiji Yasuda Life Insurance Co raised its position in RTX by 9.7% during the second quarter. Meiji Yasuda Life Insurance Co now owns 3,725 shares of the company’s stock valued at $374,000 after purchasing an additional 330 shares during the period. Meridian Wealth Partners LLC raised its position in RTX by 5.5% during the second quarter. Meridian Wealth Partners LLC now owns 2,246 shares of the company’s stock valued at $225,000 after purchasing an additional 118 shares during the period. E Fund Management Co. Ltd. bought a new position in shares of RTX during the second quarter valued at approximately $201,000. Finally, Cranbrook Wealth Management LLC grew its stake in shares of RTX by 4,404.0% during the second quarter. Cranbrook Wealth Management LLC now owns 3,378 shares of the company’s stock valued at $339,000 after buying an additional 3,303 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at RTX

In related news, EVP Dantaya M. Williams sold 17,570 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the transaction, the executive vice president now directly owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Dantaya M. Williams sold 17,570 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the transaction, the executive vice president now directly owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Kevin G. Dasilva sold 8,166 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by corporate insiders.

RTX Stock Down 0.4 %

Shares of NYSE RTX opened at $118.73 on Wednesday. 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 stock has a market capitalization of $157.94 billion, a PE ratio of 46.56, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The stock’s fifty day simple moving average is $114.49 and its two-hundred day simple moving average is $105.68. RTX Co. has a 12-month low of $68.56 and a 12-month high of $123.70.

RTX (NYSE:RTX) last announced its 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. The business had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. As a group, analysts expect that RTX Co. will post 5.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RTX. JPMorgan Chase & Co. upped their target price on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a research note on Tuesday, July 30th. Royal Bank of Canada upped their target price on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. TD Cowen upped their target price on RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company cut their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. 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 data from MarketBeat, RTX has an average rating of “Hold” and an average 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.