BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 82,421 Shares of RTX Co. (NYSE:RTX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in RTX Co. (NYSE:RTX) by 47.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 254,674 shares of the company’s stock after purchasing an additional 82,421 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in RTX were worth $25,567,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RTX. Capital Research Global Investors grew its holdings in shares of RTX by 23.7% during the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after purchasing an additional 17,351,313 shares during the last quarter. Capital International Investors grew its stake in shares of RTX by 20.6% during the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock worth $5,488,752,000 after buying an additional 11,163,222 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of RTX by 1,247.1% during the second quarter. Marshall Wace LLP now owns 2,053,706 shares of the company’s stock worth $206,172,000 after buying an additional 1,901,256 shares in the last quarter. Focused Investors Fund L P bought a new position in shares of RTX in the 1st quarter valued at $80,594,000. Finally, Hsbc Holdings PLC boosted its holdings in shares of RTX by 47.9% during the 2nd quarter. Hsbc Holdings PLC now owns 2,448,780 shares of the company’s stock valued at $246,300,000 after acquiring an additional 792,830 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Down 0.2 %

Shares of NYSE:RTX opened at $120.05 on Wednesday. The business’s 50 day moving average is $116.57 and its 200 day moving average is $106.90. RTX Co. has a 12-month low of $68.56 and a 12-month high of $123.70. The stock has a market cap of $159.70 billion, a price-to-earnings ratio of 47.08, a PEG ratio of 2.12 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 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 net margin of 3.12% and a return on equity of 11.37%. The firm had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same quarter in the prior year, the business posted $1.29 EPS. The business’s revenue was up 7.7% compared to the same quarter last year. On average, sell-side analysts forecast that RTX Co. will post 5.45 earnings per share for the current fiscal year.

Insider Buying and Selling at RTX

In other news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of 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 SEC, which is accessible through this hyperlink. In other news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction 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 sale, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Amy L. Johnson sold 6,734 shares of the stock in a transaction dated Monday, July 29th. The shares were 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 of the company’s stock, valued at approximately $1,402,773.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 178,333 shares of company stock worth $20,861,880. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on RTX shares. Robert W. Baird upped their target price on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Wells Fargo & Company lowered their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Melius Research lifted their target price on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upped their price target on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada raised their price target on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Two research 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $157.31.

RTX Company 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.