RDST Capital LLC Lowers Stake in RTX Co. (NYSE:RTX)

RDST Capital LLC decreased its position in shares of RTX Co. (NYSE:RTX) by 26.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 242,825 shares of the company’s stock after selling 87,000 shares during the period. RTX accounts for about 6.4% of RDST Capital LLC’s investment portfolio, making the stock its 10th largest position. RDST Capital LLC’s holdings in RTX were worth $24,377,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors raised its stake in RTX by 4.2% during the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after acquiring an additional 3,761,246 shares during the period. Capital International Investors raised its stake in RTX by 4.8% during the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after acquiring an additional 3,161,165 shares during the period. Clearbridge Investments LLC raised its position in shares of RTX by 2.0% during the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after buying an additional 213,331 shares during the last quarter. Sanders Capital LLC raised its position in shares of RTX by 6.8% during the fourth quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock valued at $898,147,000 after buying an additional 677,520 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of RTX by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock valued at $747,347,000 after buying an additional 417,789 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Transactions at RTX

In other news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated 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 transaction, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Christopher T. Calio sold 4,235 shares of the company’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 transaction, the chief executive officer now directly owns 88,509 shares in the company, valued at $10,090,026. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated 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 transaction, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. 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. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Melius Research lifted their price objective on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research report on Tuesday, July 30th. Royal Bank of Canada lifted 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. Susquehanna lifted their price objective on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research report on Friday, July 26th. Finally, StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $157.31.

RTX Trading Up 1.8 %

RTX stock opened at $120.27 on Tuesday. 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 Co. has a twelve month low of $68.56 and a twelve month high of $123.70. The stock has a market capitalization of $159.90 billion, a price-to-earnings ratio of 47.16, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. The firm’s fifty day simple moving average is $116.24 and its two-hundred day simple moving average is $106.69.

RTX (NYSE:RTX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. 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 business posted $1.29 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. As a group, analysts anticipate that RTX Co. will post 5.45 earnings per share for the current year.

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.