RTX Co. (NYSE:RTX) Shares Sold by Plato Investment Management Ltd

Plato Investment Management Ltd trimmed its position in RTX Co. (NYSE:RTX) by 79.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,896 shares of the company’s stock after selling 30,074 shares during the period. Plato Investment Management Ltd’s holdings in RTX were worth $793,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of RTX. Gryphon Financial Partners LLC purchased a new stake in shares of RTX in the fourth quarter valued at $474,000. Financial Advocates Investment Management lifted its holdings in shares of RTX by 21.3% during the 4th quarter. Financial Advocates Investment Management now owns 12,709 shares of the company’s stock worth $1,069,000 after acquiring an additional 2,231 shares during the period. Level Four Advisory Services LLC purchased a new stake in RTX in the fourth quarter valued at approximately $2,210,000. Brown Advisory Inc. increased its position in RTX by 3.2% during the fourth quarter. Brown Advisory Inc. now owns 291,476 shares of the company’s stock worth $24,525,000 after purchasing an additional 8,931 shares during the last quarter. Finally, TrinityPoint Wealth LLC increased its position in RTX by 8.1% during the fourth quarter. TrinityPoint Wealth LLC now owns 37,374 shares of the company’s stock worth $3,145,000 after purchasing an additional 2,790 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on RTX. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research note on Tuesday, July 30th. Robert W. Baird upped their price target on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. TD Cowen lifted their price objective on RTX from $115.00 to $142.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Susquehanna increased their target price on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. Finally, Melius Research lifted their price target on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, RTX presently has a consensus rating of “Hold” and an average target price of $157.31.

RTX Stock Performance

Shares of RTX stock opened at $119.12 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73. The company’s fifty day moving average price is $114.11 and its two-hundred day moving average price is $105.47. The firm has a market capitalization of $158.46 billion, a P/E ratio of 46.71, a P/E/G ratio of 2.11 and a beta of 0.82. RTX Co. has a 12 month low of $68.56 and a 12 month high of $123.70.

RTX (NYSE:RTX) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $19.29 billion. During the same quarter in the previous year, the firm posted $1.29 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year. On average, research analysts anticipate that RTX Co. will post 5.45 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Chairman Gregory Hayes sold 134,887 shares of RTX 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 in the company, valued at $66,725,966.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 17,570 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the sale, the executive vice president now owns 38,855 shares in the company, valued at approximately $4,463,273.85. The disclosure for this sale can be found here. In the last three months, insiders sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is currently owned by insiders.

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.