Penobscot Investment Management Company Inc. Lowers Holdings in RTX Co. (NYSE:RTX)

Penobscot Investment Management Company Inc. lessened its position in RTX Co. (NYSE:RTX) by 4.0% in the 4th quarter, Holdings Channel reports. The fund owned 45,257 shares of the company’s stock after selling 1,881 shares during the period. Penobscot Investment Management Company Inc.’s holdings in RTX were worth $5,237,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fairway Wealth LLC acquired a new stake in RTX in the fourth quarter valued at about $31,000. Picton Mahoney Asset Management raised its stake in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after buying an additional 265 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of RTX in the fourth quarter valued at approximately $39,000. Modus Advisors LLC acquired a new position in RTX during the fourth quarter worth $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in RTX in the fourth quarter worth $40,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on RTX. Wells Fargo & Company boosted their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Vertical Research raised shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Finally, Susquehanna raised their price objective on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and a consensus price target of $166.40.

Insider Activity

In other news, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. This represents a 35.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock valued at $10,309,302 in the last 90 days. 0.15% of the stock is currently owned by insiders.

RTX Stock Performance

Shares of NYSE RTX opened at $135.84 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The company has a market cap of $181.36 billion, a PE ratio of 38.26, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company has a 50-day simple moving average of $127.81 and a 200-day simple moving average of $122.79. RTX Co. has a 12 month low of $95.58 and a 12 month high of $135.94.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, equities analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.86%. The ex-dividend date was Friday, February 21st. RTX’s dividend payout ratio (DPR) is 70.99%.

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.