SkyOak Wealth LLC Sells 1,733 Shares of RTX Co. (NYSE:RTX)

SkyOak Wealth LLC reduced its position in shares of RTX Co. (NYSE:RTX) by 27.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,570 shares of the company’s stock after selling 1,733 shares during the period. SkyOak Wealth LLC’s holdings in RTX were worth $459,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RTX. Gryphon Financial Partners LLC acquired a new position in shares of RTX during the fourth quarter worth approximately $474,000. TrinityPoint Wealth LLC lifted its stake in shares of RTX by 8.1% in the fourth quarter. TrinityPoint Wealth LLC now owns 37,374 shares of the company’s stock valued at $3,145,000 after buying an additional 2,790 shares during the period. Gladstone Institutional Advisory LLC grew its position in RTX by 14.6% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 24,810 shares of the company’s stock worth $2,088,000 after buying an additional 3,157 shares in the last quarter. Assetmark Inc. lifted its position in shares of RTX by 2.0% in the 4th quarter. Assetmark Inc. now owns 112,525 shares of the company’s stock worth $9,468,000 after acquiring an additional 2,217 shares during the period. Finally, Journey Strategic Wealth LLC acquired a new stake in shares of RTX during the 4th quarter worth approximately $313,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RTX. The Goldman Sachs Group increased their price objective on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Susquehanna raised their price target on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a report on Tuesday, July 30th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and increased their target price for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Finally, Royal Bank of Canada boosted their price target on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, RTX currently has an average rating of “Hold” and an average price target of $157.31.

RTX Price Performance

RTX stock opened at $118.73 on Wednesday. The stock has a market cap of $157.94 billion, a price-to-earnings ratio of 46.56, 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. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The business’s 50-day simple moving average is $114.49 and its 200 day simple moving average is $105.68.

RTX (NYSE:RTX) last issued 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 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 EPS. RTX’s revenue was up 7.7% on a year-over-year basis. As a group, research analysts anticipate that RTX Co. will post 5.45 earnings per share for the current year.

Insider Activity

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the 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 transaction, the chairman now 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 Securities & Exchange Commission, which is available at this link. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the company’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 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. Also, EVP Dantaya M. Williams sold 17,570 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the completion of the sale, the executive vice president now owns 38,855 shares in the company, valued at $4,463,273.85. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock valued at $20,861,880 in the last 90 days. 0.13% of the stock is owned by company 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.