Atlantic Union Bankshares Corp Has $3.76 Million Position in RTX Co. (NYSE:RTX)

Atlantic Union Bankshares Corp trimmed its stake in shares of RTX Co. (NYSE:RTX) by 7.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 38,530 shares of the company’s stock after selling 3,211 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in RTX were worth $3,758,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RTX. Bruce G. Allen Investments LLC grew its stake in RTX by 7.9% during the first quarter. Bruce G. Allen Investments LLC now owns 1,441 shares of the company’s stock worth $141,000 after purchasing an additional 106 shares during the period. Jacobsen Capital Management increased its holdings in RTX by 3.0% in the fourth quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock worth $327,000 after purchasing an additional 114 shares in the last quarter. Diligent Investors LLC increased its holdings in RTX by 1.4% in the fourth quarter. Diligent Investors LLC now owns 8,781 shares of the company’s stock worth $739,000 after purchasing an additional 118 shares in the last quarter. Hummer Financial Advisory Services Inc increased its holdings in RTX by 1.7% in the first quarter. Hummer Financial Advisory Services Inc now owns 7,334 shares of the company’s stock worth $715,000 after purchasing an additional 120 shares in the last quarter. Finally, Lcnb Corp boosted its position in RTX by 1.8% in the fourth quarter. Lcnb Corp now owns 7,065 shares of the company’s stock worth $594,000 after purchasing an additional 122 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at RTX

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the sale, the insider now directly owns 149,050 shares of the company’s stock, valued at $15,757,566. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the sale, the director now directly owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the sale, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The disclosure for this sale can be found here. Insiders have sold a total of 119,937 shares of company stock valued at $12,256,952 over the last ninety days. 0.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RTX shares. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Thursday. TD Cowen upped their target price on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Susquehanna upped their target price on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research note on Wednesday, April 24th. Bank of America upped their target price on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Finally, Wells Fargo & Company upped their target price on RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $98.33.

RTX Stock Performance

Shares of RTX stock traded down $0.23 on Friday, reaching $100.39. The stock had a trading volume of 13,844,477 shares, compared to its average volume of 7,594,032. The stock has a market cap of $133.47 billion, a P/E ratio of 39.37, a price-to-earnings-growth ratio of 1.78 and a beta of 0.83. RTX Co. has a 1 year low of $68.56 and a 1 year high of $108.65. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The company has a 50 day simple moving average of $104.42 and a 200 day simple moving average of $95.47.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the business posted $1.22 EPS. Equities research analysts expect that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 2.51%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

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.