RTX Co. (NYSE:RTX) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its holdings in RTX Co. (NYSE:RTX) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,186,906 shares of the company’s stock after selling 13,044 shares during the period. Truist Financial Corp owned about 0.16% of RTX worth $219,544,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in RTX. Elgethun Capital Management grew its holdings in RTX by 3.8% in the 2nd quarter. Elgethun Capital Management now owns 2,326 shares of the company’s stock valued at $233,000 after buying an additional 85 shares during the period. Alpha Omega Wealth Management LLC raised its stake in RTX by 0.6% during the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after purchasing an additional 89 shares during the period. Motco raised its holdings in RTX by 7.2% in the first quarter. Motco now owns 1,475 shares of the company’s stock valued at $144,000 after buying an additional 99 shares during the period. D Orazio & Associates Inc. lifted its position in RTX by 4.0% during the second quarter. D Orazio & Associates Inc. now owns 2,602 shares of the company’s stock valued at $261,000 after buying an additional 99 shares in the last quarter. Finally, Enterprise Bank & Trust Co increased its position in shares of RTX by 2.9% in the second quarter. Enterprise Bank & Trust Co now owns 3,550 shares of the company’s stock worth $356,000 after acquiring an additional 100 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Price Performance

NYSE RTX opened at $121.14 on Tuesday. The company has a 50-day moving average price of $117.91 and a two-hundred day moving average price of $107.74. The stock has a market cap of $161.15 billion, a price-to-earnings ratio of 47.51, a price-to-earnings-growth ratio of 2.12 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. RTX Co. has a 52 week low of $68.56 and a 52 week high of $123.70.

RTX (NYSE:RTX) last announced its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share 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 firm 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 business earned $1.29 EPS. The firm’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.

Insider Buying and Selling

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher T. Calio sold 4,235 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $114.00, for a total value 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 approximately $10,090,026. 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 90 days. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Royal Bank of Canada raised their price target on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Alembic Global Advisors upgraded 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. Finally, Wells Fargo & Company lowered their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, RTX presently has an average rating of “Hold” and a consensus price target 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.