Parcion Private Wealth LLC Has $602,000 Stake in RTX Co. (NYSE:RTX)

Parcion Private Wealth LLC increased its position in RTX Co. (NYSE:RTX) by 15.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,000 shares of the company’s stock after purchasing an additional 807 shares during the period. Parcion Private Wealth LLC’s holdings in RTX were worth $602,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RTX. Capital Research Global Investors lifted its position in RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after buying an additional 3,761,246 shares in the last quarter. Capital International Investors lifted its position in RTX by 4.8% in the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after buying an additional 3,161,165 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in RTX by 82.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock worth $1,288,157,000 after buying an additional 6,932,011 shares in the last quarter. Clearbridge Investments LLC lifted its position in RTX by 2.0% in the 1st quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after buying an additional 213,331 shares in the last quarter. Finally, Sanders Capital LLC lifted its position in RTX by 6.8% in the 4th quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock worth $898,147,000 after buying an additional 677,520 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on RTX shares. Wells Fargo & Company cut their price target on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Royal Bank of Canada lifted their target price on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. JPMorgan Chase & Co. raised 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. Alembic Global Advisors upgraded shares of 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. Finally, Susquehanna raised their price target on shares of RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $153.47.

RTX Price Performance

Shares of NYSE RTX traded down $1.20 during trading on Friday, reaching $118.44. The company had a trading volume of 3,983,706 shares, compared to its average volume of 7,095,772. 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 $157.55 billion, a PE ratio of 46.46, a PEG ratio of 2.13 and a beta of 0.82. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The business’s 50 day moving average price is $112.14 and its 200-day moving average price is $104.23.

RTX (NYSE:RTX) last announced its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping 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 company had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. During the same period in the previous year, the firm posted $1.29 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. Analysts expect that RTX Co. will post 5.45 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The disclosure for this sale can be found here. Insiders sold a total of 178,333 shares of company stock valued at $20,861,880 over the last ninety days. Insiders own 0.13% of the company’s stock.

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.