First National Trust Co Sells 16,603 Shares of RTX Co. (NYSE:RTX)

First National Trust Co cut its position in RTX Co. (NYSE:RTX) by 11.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,352 shares of the company’s stock after selling 16,603 shares during the quarter. First National Trust Co’s holdings in RTX were worth $10,631,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in RTX. Northern Trust Corp grew its holdings in RTX by 1.9% during the 3rd quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock worth $987,871,000 after acquiring an additional 256,215 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in RTX by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock valued at $784,735,000 after purchasing an additional 60,319 shares during the period. Sanders Capital LLC raised its position in RTX by 20.2% during the 3rd quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock worth $719,478,000 after purchasing an additional 1,682,928 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in RTX by 29.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock worth $602,941,000 after buying an additional 1,914,184 shares during the period. Finally, American Century Companies Inc. grew its position in shares of RTX by 9.8% in the 3rd quarter. American Century Companies Inc. now owns 6,665,887 shares of the company’s stock valued at $479,744,000 after buying an additional 593,305 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Bank of America raised their price objective on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Susquehanna boosted their price target on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday, April 24th. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Royal Bank of Canada boosted their target price on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Finally, Citigroup increased their price target on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, RTX presently has an average rating of “Hold” and an average target price of $96.93.

RTX Stock Down 0.5 %

Shares of NYSE:RTX traded down $0.49 during trading on Friday, reaching $101.40. 13,324,869 shares of the stock were exchanged, compared to its average volume of 7,489,805. The stock has a fifty day moving average of $96.70 and a two-hundred day moving average of $88.49. RTX Co. has a 1-year low of $68.56 and a 1-year high of $103.89. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The firm has a market cap of $134.81 billion, a price-to-earnings ratio of 39.76, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate 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 net margin of 4.90% and a return on equity of 10.81%. The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.22 earnings per share. Research analysts anticipate that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This is an increase from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 annualized dividend and a dividend yield of 2.49%. RTX’s dividend payout ratio is 92.55%.

Insider Activity

In related 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 completion of the sale, the director now owns 129,120 shares in the company, valued at $13,166,366.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Gregory Hayes sold 89,762 shares of the business’s 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 transaction, the chief executive officer now owns 636,759 shares in the company, valued at approximately $64,592,832.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value 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 disclosure for this sale can be found here. Insiders have sold 137,842 shares of company stock worth $13,603,426 over the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

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.