Stock Yards Bank & Trust Co. Sells 1,801 Shares of RTX Co. (NYSE:RTX)

Stock Yards Bank & Trust Co. cut its position in RTX Co. (NYSE:RTX) by 7.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,066 shares of the company’s stock after selling 1,801 shares during the period. Stock Yards Bank & Trust Co.’s holdings in RTX were worth $2,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. 10Elms LLP purchased a new position in shares of RTX in the 4th quarter worth approximately $29,000. Fairway Wealth LLC acquired a new position in RTX during the fourth quarter worth $31,000. Picton Mahoney Asset Management grew its holdings in shares of RTX by 2,944.4% during the fourth 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. Greenline Partners LLC purchased a new stake in shares of RTX during the fourth quarter worth $34,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of RTX in the fourth quarter valued at about $39,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president now owns 16,538 shares in the company, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the transaction, the vice president now owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

RTX Stock Up 3.2%

RTX opened at $145.47 on Friday. The stock has a market cap of $194.34 billion, a price-to-earnings ratio of 40.98, a price-to-earnings-growth ratio of 2.11 and a beta of 0.63. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $146.02. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The firm’s fifty day moving average is $131.41 and its 200 day moving average is $126.50.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. The firm had revenue of $20.31 billion during the quarter, compared to analysts’ expectations of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, sell-side analysts forecast that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were issued a $0.68 dividend. This is a positive change from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Friday, May 23rd. RTX’s dividend payout ratio is currently 79.77%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RTX. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. UBS Group lifted their price objective on shares of RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Citigroup cut their price target on RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Cowen reaffirmed a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Finally, Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, RTX currently has a consensus rating of “Buy” and a consensus target price of $159.82.

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.