Webster Bank N. A. Cuts Position in RTX Co. (NYSE:RTX)

Webster Bank N. A. decreased its holdings in RTX Co. (NYSE:RTX) by 8.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,674 shares of the company’s stock after selling 1,621 shares during the quarter. Webster Bank N. A.’s holdings in RTX were worth $1,626,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new position in shares of RTX in the fourth quarter valued at $25,000. Planned Solutions Inc. purchased a new position in shares of RTX in the fourth quarter valued at $30,000. Alaska Permanent Fund Corp purchased a new position in shares of RTX in the first quarter valued at $42,000. Financial Gravity Asset Management Inc. increased its position in shares of RTX by 352.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after buying an additional 345 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new position in shares of RTX in the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Down 0.2 %

Shares of RTX stock traded down $0.23 during trading hours on Friday, reaching $100.39. The stock had a trading volume of 13,853,219 shares, compared to its average volume of 6,408,701. The firm has a 50 day simple moving average of $104.42 and a two-hundred day simple moving average of $95.47. The firm has a market capitalization of $133.47 billion, a price-to-earnings ratio of 39.37, a P/E/G ratio of 1.77 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. RTX Co. has a 1 year low of $68.56 and a 1 year high of $108.65.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The company 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 quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the business posted $1.22 EPS. As a group, equities research analysts anticipate that RTX Co. will post 5.39 earnings per share 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 issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.51%. RTX’s payout ratio is currently 98.82%.

Insider Activity at RTX

In related news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the sale, the chief executive officer now directly owns 636,759 shares in the company, valued at approximately $64,592,832.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of RTX 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 in the company, valued at approximately $13,166,366.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the sale, the chief executive officer now owns 636,759 shares in the company, valued at $64,592,832.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 119,937 shares of company stock worth $12,256,952. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Barclays increased their price objective on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 30th. TD Cowen increased their price objective on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Robert W. Baird increased their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Citigroup increased their price objective on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, Wells Fargo & Company increased their price objective on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, RTX presently has an average rating of “Hold” and a consensus target price of $98.33.

About RTX

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.