Redwood Wealth Management Group LLC Sells 200 Shares of RTX Co. (NYSE:RTX)

Redwood Wealth Management Group LLC cut its stake in shares of RTX Co. (NYSE:RTX) by 2.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,041 shares of the company’s stock after selling 200 shares during the quarter. Redwood Wealth Management Group LLC’s holdings in RTX were worth $707,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc grew its position in shares of 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 in the last quarter. Lynx Investment Advisory bought a new position in RTX in the 2nd quarter worth approximately $26,000. Mizuho Securities Co. Ltd. purchased a new stake in RTX during the 2nd quarter valued at approximately $32,000. Fairman Group LLC bought a new stake in shares of RTX during the fourth quarter valued at approximately $38,000. Finally, Beaird Harris Wealth Management LLC lifted its holdings in shares of RTX by 42.2% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock worth $39,000 after buying an additional 139 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction on 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 completion of the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the completion of the sale, the vice president now owns 45,208 shares of the company’s stock, valued at $5,197,111.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction that occurred 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 transaction, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock worth $20,861,880 over the last quarter. Company insiders own 0.13% of the company’s stock.

RTX Price Performance

RTX stock opened at $119.12 on Monday. 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 12 month low of $68.56 and a 12 month high of $123.70. The stock has a market cap of $158.46 billion, a PE ratio of 46.71, a P/E/G ratio of 2.11 and a beta of 0.82. The company has a 50-day moving average price of $114.11 and a 200 day moving average price of $105.47.

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. 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 business earned $1.29 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities research analysts anticipate that RTX Co. will post 5.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on RTX shares. TD Cowen lifted their price target on shares of RTX from $115.00 to $142.00 and gave the company a “buy” rating in a report on Friday, July 26th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a research note on Tuesday, July 30th. Royal Bank of Canada lifted their price objective on RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Finally, Robert W. Baird increased their target price on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. 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 company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $157.31.

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.