AdvisorShares Investments LLC Sells 428 Shares of RTX Co. (NYSE:RTX)

AdvisorShares Investments LLC cut its holdings in shares of RTX Co. (NYSE:RTX) by 8.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,572 shares of the company’s stock after selling 428 shares during the period. AdvisorShares Investments LLC’s holdings in RTX were worth $455,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Alpha Omega Wealth Management LLC lifted its position in shares of RTX by 0.6% during the 2nd quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company’s stock worth $1,518,000 after buying an additional 89 shares in the last quarter. Motco lifted 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 in the last quarter. Enterprise Bank & Trust Co raised its holdings in shares of RTX by 2.9% in the 2nd quarter. Enterprise Bank & Trust Co now owns 3,550 shares of the company’s stock worth $356,000 after purchasing an additional 100 shares during the period. Werlinich Asset Management LLC raised its holdings in shares of RTX by 0.4% in the 2nd quarter. Werlinich Asset Management LLC now owns 26,814 shares of the company’s stock worth $2,698,000 after purchasing an additional 100 shares during the period. Finally, Founders Capital Management LLC raised its holdings in shares of RTX by 1.2% in the 2nd 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 currently owned by institutional investors.

RTX Price Performance

RTX stock opened at $119.26 on Thursday. The business has a 50-day simple moving average of $113.34 and a 200 day simple moving average of $104.95. RTX Co. has a 52 week low of $68.56 and a 52 week high of $123.70. The stock has a market cap of $158.64 billion, a price-to-earnings ratio of 46.77, a PEG ratio of 2.08 and a beta of 0.82. 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 posted its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.11. The company had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. RTX’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 earnings per share. On average, research analysts forecast that RTX Co. will post 5.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RTX. Melius Research lifted their price target on shares of RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. The Goldman Sachs Group lifted their price target on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Susquehanna lifted their price target on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a report on Tuesday, July 30th. Finally, StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $157.31.

Insider Activity

In other news, Chairman Gregory Hayes sold 134,887 shares of the firm’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 sale, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Chairman Gregory Hayes sold 134,887 shares of the firm’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 sale, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher T. Calio sold 4,235 shares of the firm’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 sale, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. The disclosure for this sale can be found here. In the last quarter, insiders have sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is currently owned by corporate insiders.

RTX 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.