RTX Co. (NYSE:RTX) Holdings Decreased by Ledyard National Bank

Ledyard National Bank decreased its holdings in shares of RTX Co. (NYSE:RTX) by 1.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,974 shares of the company’s stock after selling 159 shares during the quarter. Ledyard National Bank’s holdings in RTX were worth $1,558,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of RTX. Gold Investment Management Ltd. grew its stake in RTX by 3.5% in the first quarter. Gold Investment Management Ltd. now owns 3,045 shares of the company’s stock valued at $297,000 after purchasing an additional 103 shares in the last quarter. Insight Inv LLC grew its stake in RTX by 0.6% in the first quarter. Insight Inv LLC now owns 17,299 shares of the company’s stock valued at $1,687,000 after purchasing an additional 105 shares in the last quarter. Bruce G. Allen Investments LLC grew its stake in RTX by 7.9% in the first quarter. Bruce G. Allen Investments LLC now owns 1,441 shares of the company’s stock valued at $141,000 after purchasing an additional 106 shares in the last quarter. Jacobsen Capital Management lifted its position in shares of 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 buying an additional 114 shares during the last quarter. Finally, TRUE Private Wealth Advisors lifted its position in shares of RTX by 1.2% in the first quarter. TRUE Private Wealth Advisors now owns 9,952 shares of the company’s stock worth $971,000 after buying an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling

In related news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $15,757,566. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the company’s stock in a transaction 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 transaction, the director now owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. The disclosure for this sale can be found here. Insiders have sold a total of 119,937 shares of company stock worth $12,256,952 in the last three months. Insiders own 0.13% of the company’s stock.

RTX Stock Performance

RTX stock traded down $1.18 during trading hours on Thursday, hitting $103.81. The stock had a trading volume of 4,450,113 shares, compared to its average volume of 7,410,278. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $108.65. The company has a market cap of $138.02 billion, a PE ratio of 40.71, a price-to-earnings-growth ratio of 1.85 and a beta of 0.82. The company has a 50-day moving average of $104.22 and a two-hundred day moving average of $97.30. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same period in the prior year, the company posted $1.22 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts anticipate that RTX Co. will post 5.4 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.43%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Analysts Set New Price Targets

A number of analysts have weighed in on RTX shares. Barclays boosted their price target on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Monday. Wells Fargo & Company boosted their price target on RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. Robert W. Baird boosted their price target on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, UBS Group boosted their price objective on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.