Whittier Trust Co. of Nevada Inc. Acquires 3,217 Shares of RTX Corporation $RTX

Key Points

• Whittier Trust Co. of Nevada Inc. has increased its holdings in RTX Corporation by 1.6%, owning a total of 199,924 shares valued at approximately $29.19 million.
• Insider trading activity includes significant sales, with insider Philip J. Jasper selling 12,847 shares, marking a 42.08% decrease in their ownership.
• Brokerage upgrades have resulted in new price targets for RTX, with JPMorgan Chase & Co. and Bank of America raising their target prices to $175.00, reflecting strong investor sentiment.

Whittier Trust Co. of Nevada Inc. increased its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 1.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 199,924 shares of the company's stock after purchasing an additional 3,217 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in RTX were worth $29,193,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MorganRosel Wealth Management LLC bought a new position in shares of RTX during the first quarter valued at approximately $26,000. PFS Partners LLC boosted its stake in shares of RTX by 101.1% during the second quarter. PFS Partners LLC now owns 177 shares of the company's stock valued at $26,000 after purchasing an additional 89 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of RTX during the first quarter valued at approximately $40,000. McClarren Financial Advisors Inc. bought a new position in shares of RTX during the first quarter valued at approximately $44,000. Finally, Mid American Wealth Advisory Group Inc. bought a new position in shares of RTX during the second quarter valued at approximately $47,000. 86.50% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Philip J. Jasper sold 12,847 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the completion of the transaction, the insider owned 17,684 shares of the company's stock, valued at $2,790,888.88. This trade represents a 42.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Troy D. Brunk sold 7,654 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the transaction, the insider directly owned 16,442 shares of the company's stock, valued at approximately $2,551,798.40. This trade represents a 31.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,635 shares of company stock valued at $8,947,010 over the last quarter. Insiders own 0.15% of the company's stock.

RTX Trading Up 1.7%

NYSE:RTX opened at $160.63 on Tuesday. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $170.85. The firm has a fifty day simple moving average of $159.31 and a 200-day simple moving average of $146.31. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $215.02 billion, a P/E ratio of 35.30, a PEG ratio of 2.93 and a beta of 0.66.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data 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 net margin of 7.35% and a return on equity of 12.89%. The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. During the same period in the previous year, the firm posted $1.41 earnings per share. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on RTX. JPMorgan Chase & Co. raised their target price on shares of RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Bank of America raised their target price on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $195.00 target price on shares of RTX in a research note on Wednesday, October 8th. Barclays raised their target price on shares of RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of RTX in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $164.13.

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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