Davidson Trust Co. Decreases Stake in RTX Co. (NYSE:RTX)

Davidson Trust Co. lessened its holdings in shares of RTX Co. (NYSE:RTX) by 11.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,509 shares of the company’s stock after selling 1,699 shares during the period. Davidson Trust Co.’s holdings in RTX were worth $1,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in RTX. Bear Mountain Capital Inc. purchased a new position in shares of RTX during the fourth quarter worth $25,000. Strengthening Families & Communities LLC purchased a new position in shares of RTX during the third quarter worth $28,000. Quarry LP purchased a new position in shares of RTX during the first quarter worth $28,000. Planned Solutions Inc. purchased a new position in shares of RTX during the fourth quarter worth $30,000. Finally, Financial Gravity Asset Management Inc. raised its holdings in shares of RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RTX. Robert W. Baird raised their target price on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Royal Bank of Canada lifted their price objective 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. TheStreet raised shares of RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Bank of America raised shares of RTX from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $78.00 to $100.00 in a report on Thursday, January 25th. Finally, UBS Group lifted their price objective on shares of RTX from $93.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $94.44.

Insider Activity

In other news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the sale, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Ramsaran Maharajh sold 312 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the transaction, the executive vice president now directly owns 11,676 shares in the company, valued at approximately $1,076,176.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now owns 6,741 shares in the company, valued at $614,711.79. The disclosure for this sale can be found here. Insiders sold a total of 37,785 shares of company stock valued at $3,448,188 in the last 90 days. Company insiders own 0.13% of the company’s stock.

RTX Price Performance

RTX traded up $1.26 on Friday, reaching $101.97. 2,067,099 shares of the company’s stock were exchanged, compared to its average volume of 8,158,912. The stock has a market cap of $135.58 billion, a PE ratio of 44.95, a P/E/G ratio of 1.83 and a beta of 0.88. RTX Co. has a twelve month low of $68.56 and a twelve month high of $103.32. The stock’s fifty day moving average price is $94.33 and its 200-day moving average price is $86.23. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. The firm had revenue of $19.93 billion for the quarter, compared to analyst estimates of $19.74 billion. RTX had a net margin of 4.64% and a return on equity of 10.34%. RTX’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.27 earnings per share. Sell-side analysts expect that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were paid a $0.59 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.31%. RTX’s dividend payout ratio (DPR) is 105.36%.

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.