Clifford Swan Investment Counsel LLC Has $22.14 Million Holdings in RTX Co. (NYSE:RTX)

Clifford Swan Investment Counsel LLC trimmed its stake in shares of RTX Co. (NYSE:RTX) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 220,562 shares of the company’s stock after selling 3,894 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in RTX were worth $22,142,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Gryphon Financial Partners LLC acquired a new stake in RTX in the fourth quarter worth about $474,000. Johnson Investment Counsel Inc. grew its position in shares of RTX by 5.1% during the 4th quarter. Johnson Investment Counsel Inc. now owns 32,486 shares of the company’s stock worth $2,733,000 after buying an additional 1,574 shares during the period. QRG Capital Management Inc. raised its stake in shares of RTX by 2.9% during the fourth quarter. QRG Capital Management Inc. now owns 122,464 shares of the company’s stock worth $10,304,000 after buying an additional 3,426 shares during the last quarter. AlphaStar Capital Management LLC lifted its holdings in RTX by 21.6% in the fourth quarter. AlphaStar Capital Management LLC now owns 9,840 shares of the company’s stock valued at $828,000 after buying an additional 1,748 shares during the period. Finally, USA Financial Formulas boosted its stake in RTX by 510.3% in the fourth quarter. USA Financial Formulas now owns 476 shares of the company’s stock valued at $40,000 after acquiring an additional 398 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 17,570 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 38,855 shares of the company’s stock, valued at $4,463,273.85. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, VP Kevin G. Dasilva sold 8,166 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.96, for a total transaction of $938,763.36. Following the transaction, the vice president now owns 45,208 shares in the company, valued at $5,197,111.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 17,570 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.87, for a total value of $2,018,265.90. Following the completion of the sale, the executive vice president now owns 38,855 shares of the company’s stock, valued at $4,463,273.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 178,333 shares of company stock worth $20,861,880. Insiders own 0.13% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $118.64 on Monday. RTX Co. has a 12 month low of $68.56 and a 12 month high of $123.70. The company’s fifty day simple moving average is $112.14 and its 200-day simple moving average is $104.42. The firm has a market cap of $157.82 billion, a PE ratio of 46.45, a P/E/G 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 released its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. During the same quarter in the prior year, the company posted $1.29 earnings per share. RTX’s revenue was up 7.7% on a year-over-year basis. Equities research analysts expect that RTX Co. will post 5.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RTX has been the topic of several recent research reports. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target on the stock in a research report on Tuesday, July 30th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. Royal Bank of Canada lifted their price objective on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Robert W. Baird upped their target price on shares of RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. lifted their price target 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. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, RTX currently has an average rating of “Hold” and a consensus target price of $153.47.

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.