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

Penobscot Investment Management Company Inc. trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,761 shares of the company’s stock after selling 517 shares during the period. Penobscot Investment Management Company Inc.’s holdings in RTX were worth $3,514,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Northern Trust Corp increased its position in shares of RTX by 1.9% during the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock valued at $987,871,000 after buying an additional 256,215 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of RTX by 0.5% during 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 buying an additional 60,319 shares during the period. Sanders Capital LLC increased its position in shares of RTX by 20.2% during the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock valued at $719,478,000 after buying an additional 1,682,928 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of RTX by 29.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock valued at $602,941,000 after buying an additional 1,914,184 shares during the period. Finally, American Century Companies Inc. increased its position in shares of RTX by 9.8% during the third 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 period. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Down 0.6 %

NYSE RTX traded down $0.66 during mid-day trading on Tuesday, reaching $101.78. The stock had a trading volume of 2,145,708 shares, compared to its average volume of 8,065,675. RTX Co. has a 1 year low of $68.56 and a 1 year high of $103.89. The stock has a market cap of $135.32 billion, a PE ratio of 40.21, a price-to-earnings-growth ratio of 1.83 and a beta of 0.88. The company has a fifty day moving average price of $95.80 and a 200 day moving average price of $87.92. 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 (NYSE:RTX) last posted its earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. During the same quarter in the previous year, the firm posted $1.22 EPS. The firm’s revenue was up 12.1% on a year-over-year basis. On average, research analysts expect that RTX Co. will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is presently 92.55%.

Wall Street Analyst Weigh In

RTX has been the subject of several recent analyst reports. Bank of America boosted their price objective on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Wells Fargo & Company reissued an “overweight” rating and set a $120.00 price objective on shares of RTX in a report on Monday, April 1st. TD Cowen upped their target price on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Royal Bank of Canada upped their target price on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Monday, January 22nd. Finally, TheStreet raised RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $96.93.

Insider Activity

In other news, EVP Ramsaran Maharajh sold 312 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the sale, the executive vice president now owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the transaction, the insider now owns 6,741 shares in the company, valued at approximately $614,711.79. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ramsaran Maharajh sold 312 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the sale, the executive vice president now owns 11,676 shares in the company, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. Insiders sold a total of 127,547 shares of company stock valued at $12,553,645 in the last 90 days. Company insiders own 0.13% of the company’s stock.

RTX 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.