Divergent Planning LLC Purchases New Stake in RTX Corporation $RTX

Divergent Planning LLC acquired a new position in RTX Corporation (NYSE:RTX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 33,973 shares of the company’s stock, valued at approximately $4,961,000. RTX makes up 0.9% of Divergent Planning LLC’s portfolio, making the stock its 26th largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in RTX. MorganRosel Wealth Management LLC acquired a new position in shares of RTX during the first quarter worth about $26,000. PFS Partners LLC raised its holdings in shares of RTX by 101.1% during the 2nd quarter. PFS Partners LLC now owns 177 shares of the company’s stock valued at $26,000 after buying an additional 89 shares during the period. Summit Securities Group LLC acquired a new position in RTX during the 1st quarter worth approximately $40,000. McClarren Financial Advisors Inc. purchased a new position in RTX in the 1st quarter worth approximately $44,000. Finally, Mid American Wealth Advisory Group Inc. acquired a new stake in RTX in the second quarter valued at approximately $47,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Shane G. Eddy sold 25,968 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $159.79, for a total transaction of $4,149,426.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Troy D. Brunk sold 7,654 shares of RTX stock in a transaction that occurred 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 owned 16,442 shares of the company’s stock, valued at approximately $2,551,798.40. The trade was a 31.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,635 shares of company stock valued at $8,947,010 over the last quarter. 0.15% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RTX. The Goldman Sachs Group upped 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. Royal Bank Of Canada reissued an “outperform” rating and issued a $170.00 price objective (up from $165.00) on shares of RTX in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their target price on RTX from $145.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of RTX in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group restated a “hold” rating on shares of RTX in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $164.13.

RTX Trading Up 1.7%

Shares of NYSE RTX opened at $160.63 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The stock’s 50 day moving average price is $159.31 and its two-hundred day moving average price is $146.31. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $170.85. The stock 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) 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. The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%.The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.41 EPS. On average, analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

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.