RTX Co. (NYSE:RTX) Position Cut by TIAA Trust National Association

TIAA Trust National Association decreased its position in shares of RTX Co. (NYSE:RTX) by 0.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 114,544 shares of the company’s stock after selling 589 shares during the quarter. TIAA Trust National Association’s holdings in RTX were worth $11,171,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. OneAscent Financial Services LLC boosted its position in shares of RTX by 20.4% during the fourth quarter. OneAscent Financial Services LLC now owns 3,341 shares of the company’s stock worth $281,000 after buying an additional 567 shares during the period. 1834 Investment Advisors Co. bought a new position in shares of RTX in the fourth quarter worth $228,000. Galvin Gaustad & Stein LLC increased its holdings in shares of RTX by 3.6% during the fourth quarter. Galvin Gaustad & Stein LLC now owns 5,370 shares of the company’s stock valued at $452,000 after purchasing an additional 189 shares during the period. Brookstone Capital Management raised its stake in shares of RTX by 3.4% during the fourth quarter. Brookstone Capital Management now owns 41,809 shares of the company’s stock valued at $3,518,000 after purchasing an additional 1,372 shares in the last quarter. Finally, CIC Wealth LLC lifted its holdings in RTX by 5.6% in the fourth quarter. CIC Wealth LLC now owns 7,917 shares of the company’s stock worth $666,000 after purchasing an additional 420 shares during the period. Institutional investors own 86.50% of the company’s stock.

RTX Trading Down 1.0 %

RTX stock traded down $1.03 during midday trading on Friday, reaching $102.81. The stock had a trading volume of 7,229,794 shares, compared to its average volume of 6,931,716. The firm’s fifty day simple moving average is $104.15 and its two-hundred day simple moving average is $97.52. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. RTX Co. has a twelve month low of $68.56 and a twelve month high of $108.65. The firm has a market cap of $136.69 billion, a price-to-earnings ratio of 40.32, a PEG ratio of 1.83 and a beta of 0.82.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The business 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%. RTX’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 earnings per share. Equities analysts anticipate that RTX Co. will post 5.4 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently declared 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. This represents a $2.52 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio is currently 98.82%.

Insider Activity at RTX

In other RTX news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the sale, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 value of $2,101,713.60. Following the transaction, the insider now owns 149,050 shares in the company, valued at $15,757,566. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the sale, the chief executive officer now owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,937 shares of company stock valued at $12,256,952. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on RTX. Robert W. Baird boosted their price target on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research report on Monday, July 15th. Susquehanna increased their price target on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday, April 24th. Barclays boosted their price objective on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Finally, Bank of America raised their target price on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.