Freemont Management S.A. Lowers Stock Holdings in RTX Co. (NYSE:RTX)

Freemont Management S.A. cut its holdings in RTX Co. (NYSE:RTX) by 83.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,000 shares of the company’s stock after selling 226,500 shares during the period. RTX makes up approximately 2.2% of Freemont Management S.A.’s investment portfolio, making the stock its 10th largest position. Freemont Management S.A.’s holdings in RTX were worth $4,618,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Briaud Financial Planning Inc grew its holdings in shares of RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory bought a new stake in shares of RTX during the 2nd quarter worth approximately $26,000. Mizuho Securities Co. Ltd. bought a new position in RTX in the second quarter valued at approximately $32,000. Fairman Group LLC acquired a new position in RTX during the fourth quarter valued at approximately $38,000. Finally, Beaird Harris Wealth Management LLC increased its stake in shares of RTX by 42.2% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock valued at $39,000 after purchasing an additional 139 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on RTX. Royal Bank of Canada raised their target price 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. Melius Research upped their price objective on RTX from $490.00 to $493.00 in a research note on Wednesday, July 24th. Robert W. Baird lifted 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. Bank of America raised RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Finally, Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $153.47.

Insider Buying and Selling

In other RTX news, VP Amy L. Johnson sold 6,734 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $113.88, for a total transaction of $766,867.92. Following the transaction, the vice president now owns 12,318 shares in the company, valued at approximately $1,402,773.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the sale, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred on 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 sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock valued at $20,861,880 over the last quarter. 0.13% of the stock is owned by company insiders.

RTX Price Performance

NYSE:RTX traded up $1.87 during trading hours on Monday, hitting $120.31. 151,778 shares of the company’s stock traded hands, compared to its average volume of 7,055,635. The business’s fifty day simple moving average is $112.14 and its two-hundred day simple moving average is $104.42. The firm has a market cap of $160.04 billion, a P/E ratio of 46.45, a P/E/G ratio of 2.08 and a beta of 0.82. RTX Co. has a 52 week low of $68.56 and a 52 week 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.

RTX (NYSE:RTX) last released its earnings results 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. The company had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. RTX’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.29 EPS. On average, research analysts anticipate that RTX Co. will post 5.45 earnings per share 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.