TradeLink Capital LLC Acquires Shares of 4,700 RTX Co. (NYSE:RTX)

TradeLink Capital LLC bought a new position in RTX Co. (NYSE:RTX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,700 shares of the company’s stock, valued at approximately $472,000. RTX comprises about 1.4% of TradeLink Capital LLC’s investment portfolio, making the stock its 25th biggest holding.

A number of other hedge funds have also made changes to their positions in RTX. Meeder Advisory Services Inc. grew its stake in RTX by 51.3% during the second quarter. Meeder Advisory Services Inc. now owns 25,293 shares of the company’s stock worth $2,539,000 after buying an additional 8,581 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of RTX by 3.0% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 150,275 shares of the company’s stock worth $15,086,000 after acquiring an additional 4,365 shares in the last quarter. D Orazio & Associates Inc. grew its position in RTX by 4.0% during the 2nd quarter. D Orazio & Associates Inc. now owns 2,602 shares of the company’s stock worth $261,000 after acquiring an additional 99 shares during the last quarter. Eagle Strategies LLC acquired a new stake in RTX during the 2nd quarter valued at $204,000. Finally, PFG Advisors raised its position in RTX by 2.1% in the 2nd quarter. PFG Advisors now owns 19,047 shares of the company’s stock valued at $1,912,000 after purchasing an additional 383 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insiders Place Their Bets

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $66,725,966.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Chairman Gregory Hayes sold 134,887 shares of the 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 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 this hyperlink. Also, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction on Monday, July 29th. The shares were 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 directly owns 88,509 shares in the company, valued at $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 worth $20,861,880. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RTX. Susquehanna increased their target price on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Royal Bank of Canada raised their price objective on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Melius Research raised their price target on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group boosted their price objective on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, RTX currently has a consensus rating of “Hold” and a consensus target price of $157.31.

RTX Price Performance

Shares of RTX opened at $120.10 on Friday. The stock has a market cap of $159.76 billion, a P/E ratio of 47.10, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. The stock’s 50-day moving average price is $113.73 and its two-hundred day moving average price is $105.06. 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 1 year low of $68.56 and a 1 year high of $123.70.

RTX (NYSE:RTX) last issued its earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.30 by $0.11. The firm 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 business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.29 earnings per share. On average, equities analysts predict that RTX Co. will post 5.45 earnings per share for the current year.

About RTX

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.