Primecap Management Co. CA Sells 15,300 Shares of RTX Co. (NYSE:RTX)

Primecap Management Co. CA lessened its stake in shares of RTX Co. (NYSE:RTX) by 3.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 386,232 shares of the company’s stock after selling 15,300 shares during the period. Primecap Management Co. CA’s holdings in RTX were worth $38,774,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. RFG Advisory LLC boosted its holdings in shares of RTX by 96.1% during the 1st quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after purchasing an additional 19,779 shares during the last quarter. TCW Group Inc. bought a new position in shares of RTX during the 4th quarter valued at about $1,912,000. Robinson Smith Wealth Advisors LLC purchased a new stake in shares of RTX during the 4th quarter valued at about $672,000. Gryphon Financial Partners LLC purchased a new stake in shares of RTX during the 4th quarter valued at about $474,000. Finally, Edge Capital Group LLC raised its position in shares of RTX by 37.7% during the 4th quarter. Edge Capital Group LLC now owns 188,929 shares of the company’s stock valued at $15,896,000 after buying an additional 51,735 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RTX. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Wells Fargo & Company reduced their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Finally, Robert W. Baird raised their target price on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. 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 company’s stock. Based on data from MarketBeat, RTX presently has a consensus rating of “Hold” and an average target price of $157.31.

Insiders Place Their Bets

In other RTX 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 transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the business’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 directly 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 three months, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by insiders.

RTX Stock Performance

Shares of RTX stock opened at $118.73 on Wednesday. The firm has a market cap of $157.94 billion, a price-to-earnings ratio of 46.56, a PEG ratio of 2.11 and a beta of 0.82. The company’s 50 day moving average is $114.49 and its 200 day moving average is $105.68. 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 52-week low of $68.56 and a 52-week high of $123.70.

RTX (NYSE:RTX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (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 for the quarter, compared to analyst estimates of $19.29 billion. During the same period last year, the company posted $1.29 earnings per share. RTX’s revenue was up 7.7% compared to the same quarter last year. On average, sell-side analysts anticipate that RTX Co. will post 5.45 EPS for the current fiscal year.

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.