Canvas Wealth Advisors LLC Buys New Position in RTX Corporation $RTX

Canvas Wealth Advisors LLC purchased a new position in RTX Corporation (NYSE:RTX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,628 shares of the company’s stock, valued at approximately $254,000.

Other institutional investors have also recently made changes to their positions in the company. Princeton Global Asset Management LLC lifted its holdings in shares of RTX by 227,607.7% during the 2nd quarter. Princeton Global Asset Management LLC now owns 29,602 shares of the company’s stock worth $4,322,000 after acquiring an additional 29,589 shares during the last quarter. Schnieders Capital Management LLC lifted its stake in RTX by 3.1% during the second quarter. Schnieders Capital Management LLC now owns 20,900 shares of the company’s stock worth $3,052,000 after purchasing an additional 623 shares during the last quarter. Evermay Wealth Management LLC boosted its holdings in shares of RTX by 0.7% in the 2nd quarter. Evermay Wealth Management LLC now owns 10,972 shares of the company’s stock worth $1,602,000 after purchasing an additional 73 shares in the last quarter. Lyell Wealth Management LP increased its position in shares of RTX by 18.9% during the 2nd quarter. Lyell Wealth Management LP now owns 7,408 shares of the company’s stock valued at $1,082,000 after purchasing an additional 1,180 shares during the last quarter. Finally, Stephens Inc. AR raised its holdings in shares of RTX by 1.8% during the 2nd quarter. Stephens Inc. AR now owns 103,400 shares of the company’s stock valued at $15,098,000 after buying an additional 1,867 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

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. RTX Corporation has a twelve month low of $112.27 and a twelve month high of $170.85. The stock has a market cap of $215.02 billion, a P/E ratio of 35.30, a price-to-earnings-growth ratio of 2.93 and a beta of 0.66. The firm’s fifty day simple moving average is $159.31 and its 200 day simple moving average is $146.31.

RTX (NYSE:RTX) last posted 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 net margin of 7.35% and a return on equity of 12.89%. The firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $20.68 billion. During the same period last year, the company posted $1.41 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, research analysts predict that RTX Corporation will post 6.11 EPS for the current year.

Wall Street Analysts Forecast Growth

RTX has been the subject of several research reports. UBS Group upped their target price on RTX from $166.00 to $177.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RTX in a research note on Wednesday, October 8th. Susquehanna lifted their target price on shares of RTX from $160.00 to $175.00 and gave the stock a “positive” rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $170.00 price target (up from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of RTX from $145.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Two investment 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.13.

Insider Activity

In related news, 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 value of $1,359,564.80. Following the sale, the vice president directly owned 30,004 shares of the company’s stock, valued at $4,686,624.80. This represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shane G. Eddy sold 25,968 shares of the firm’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $159.79, for a total value of $4,149,426.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,635 shares of company stock worth $8,947,010. Company insiders own 0.15% of the company’s stock.

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.