RTX Co. (NYSE:RTX) Shares Sold by FARMERS & MERCHANTS TRUST Co OF LONG BEACH

FARMERS & MERCHANTS TRUST Co OF LONG BEACH cut its stake in RTX Co. (NYSE:RTX) by 19.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,249 shares of the company’s stock after selling 1,965 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in RTX were worth $828,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in RTX. Briaud Financial Planning Inc lifted 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 during the last quarter. Lynx Investment Advisory acquired a new stake in RTX during the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. bought a new position in RTX during the 2nd quarter worth approximately $32,000. Fairman Group LLC acquired a new position in shares of RTX in the 4th quarter worth approximately $38,000. Finally, Beaird Harris Wealth Management LLC increased its holdings in shares of RTX by 42.2% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock valued at $39,000 after acquiring an additional 139 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on RTX shares. Royal Bank of Canada lifted their price objective on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. TD Cowen boosted their price objective on shares of RTX from $115.00 to $142.00 and gave the company a “buy” 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 stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Melius Research lifted their target price on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Finally, The Goldman Sachs Group increased their price target on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $153.47.

Insider Activity at RTX

In related news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $66,725,966.02. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Chairman Gregory Hayes sold 134,887 shares of the 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 completion of the sale, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 178,333 shares of company stock valued at $20,861,880. Company insiders own 0.13% of the company’s stock.

RTX Trading Up 2.3 %

Shares of NYSE:RTX opened at $121.16 on Tuesday. The stock has a market capitalization of $161.08 billion, a price-to-earnings ratio of 47.51, a PEG ratio of 2.08 and a beta of 0.82. RTX Co. has a 1-year low of $68.56 and a 1-year high of $123.70. The company has a 50 day moving average price of $112.58 and a 200 day moving average price of $104.64. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last issued its earnings results 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 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 company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.29 EPS. On average, research analysts anticipate that RTX Co. will post 5.45 EPS for the current fiscal year.

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.