Longfellow Investment Management Co. LLC Has $1.18 Million Stock Position in RTX Co. (NYSE:RTX)

Longfellow Investment Management Co. LLC decreased its position in RTX Co. (NYSE:RTX) by 31.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,710 shares of the company’s stock after selling 5,481 shares during the period. Longfellow Investment Management Co. LLC’s holdings in RTX were worth $1,176,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alpha Omega Wealth Management LLC increased its holdings in RTX by 0.6% in the 2nd 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 in the last quarter. Motco grew its position in shares of RTX by 7.2% during the 1st quarter. Motco now owns 1,475 shares of the company’s stock worth $144,000 after buying an additional 99 shares during the period. Enterprise Bank & Trust Co increased its stake in RTX by 2.9% in the second quarter. Enterprise Bank & Trust Co now owns 3,550 shares of the company’s stock valued at $356,000 after purchasing an additional 100 shares in the last quarter. Werlinich Asset Management LLC increased its position in RTX by 0.4% in the 2nd quarter. Werlinich Asset Management LLC now owns 26,814 shares of the company’s stock valued at $2,698,000 after buying an additional 100 shares in the last quarter. Finally, Founders Capital Management LLC raised its position in shares of RTX by 1.2% during the second quarter. Founders Capital Management LLC now owns 8,369 shares of the company’s stock worth $840,000 after purchasing an additional 100 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Price Performance

RTX traded up $1.87 during trading on Monday, reaching $120.31. 151,778 shares of the company were exchanged, compared to its average volume of 7,055,635. The company’s 50-day moving average is $112.14 and its two-hundred day moving average is $104.42. The company has a market cap of $160.04 billion, a price-to-earnings ratio of 46.45, a P/E/G ratio of 2.08 and a beta of 0.82. RTX Co. has a 12-month low of $68.56 and a 12-month high of $123.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. During the same quarter in the previous year, the company earned $1.29 earnings per share. RTX’s revenue for the quarter was up 7.7% on a year-over-year basis. Research analysts forecast that RTX Co. will post 5.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Gregory Hayes sold 134,887 shares of the business’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 value of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Chairman Gregory Hayes sold 134,887 shares of the company’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 in the company, valued at approximately $66,725,966.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Kevin G. Dasilva sold 8,166 shares of the company’s stock in a transaction 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 sale, the vice president now owns 45,208 shares of the company’s stock, valued at $5,197,111.68. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock valued at $20,861,880 in the last quarter. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on RTX. JPMorgan Chase & Co. lifted their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. TD Cowen upped their price objective on shares of RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Royal Bank of Canada lifted their target price 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 raised RTX from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Finally, Melius Research boosted their target price on shares of RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $153.47.

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.