Canvas Wealth Advisors LLC Makes New $254,000 Investment in RTX Corporation $RTX

Key Points

• Canvas Wealth Advisors LLC has made a new investment of $254,000 in RTX Corporation, acquiring 1,628 shares during the second quarter.
• Analyst ratings for RTX have improved, with Goldman Sachs increasing their target price to $126 and Citigroup raising theirs to $182, contributing to an overall average rating of "Moderate Buy."
• RTX reported earnings per share of $1.56 for the last quarter, exceeding estimates, with a revenue increase of 9.4% year-over-year.

Canvas Wealth Advisors LLC acquired a new stake in RTX Corporation (NYSE:RTX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,628 shares of the company's stock, valued at approximately $254,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Gries Financial LLC lifted its holdings in RTX by 0.7% during the second quarter. Gries Financial LLC now owns 9,780 shares of the company's stock worth $1,428,000 after acquiring an additional 69 shares during the period. M3 Advisory Group LLC increased its position in shares of RTX by 2.7% during the 2nd quarter. M3 Advisory Group LLC now owns 2,631 shares of the company's stock valued at $384,000 after purchasing an additional 69 shares during the last quarter. TrueWealth Advisors LLC raised its stake in shares of RTX by 3.6% during the 2nd quarter. TrueWealth Advisors LLC now owns 2,007 shares of the company's stock worth $293,000 after purchasing an additional 70 shares during the period. RMR Wealth Builders boosted its holdings in shares of RTX by 3.6% in the 2nd quarter. RMR Wealth Builders now owns 2,036 shares of the company's stock worth $297,000 after buying an additional 70 shares during the last quarter. Finally, Verum Partners LLC grew its position in RTX by 1.8% during the second quarter. Verum Partners LLC now owns 4,093 shares of the company's stock valued at $598,000 after buying an additional 73 shares during the period. Hedge funds and other institutional investors own 86.50% of the company's stock.

Analyst Ratings Changes

RTX has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their target price on shares of RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research note on Monday, June 23rd. Susquehanna upped their price objective on RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd. Sanford C. Bernstein raised their target price on RTX from $157.00 to $181.00 and gave the stock a "market perform" rating in a research report on Monday, October 6th. Royal Bank Of Canada restated an "outperform" rating and issued a $170.00 target price (up from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Finally, Citigroup upped their price target on RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $164.13.

RTX Price Performance

Shares of NYSE RTX opened at $160.63 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $170.85. The stock has a market cap of $215.02 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 2.93 and a beta of 0.66. The stock has a fifty day moving average of $159.31 and a 200-day moving average of $146.31.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%.The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. During the same quarter last year, the company earned $1.41 EPS. The firm's revenue was up 9.4% compared to the same quarter last year. Equities research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.

Insider Activity at RTX

In other RTX news, insider Troy D. Brunk sold 7,654 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total value of $1,187,900.80. Following the completion of the transaction, the insider directly owned 16,442 shares of the company's stock, valued at $2,551,798.40. This trade represents a 31.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Kevin G. Dasilva sold 8,704 shares of the company's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the completion of the transaction, the vice president directly owned 30,004 shares in the company, valued at approximately $4,686,624.80. The trade was a 22.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,635 shares of company stock valued at $8,947,010 in the last quarter. 0.15% of the stock is currently owned by company insiders.

RTX 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.

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