Equitable Trust Co. Increases Holdings in RTX Co. (NYSE:RTX)

Equitable Trust Co. raised its stake in shares of RTX Co. (NYSE:RTX) by 4.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,578 shares of the company’s stock after buying an additional 952 shares during the period. Equitable Trust Co.’s holdings in RTX were worth $2,267,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in RTX. Briaud Financial Planning Inc raised its stake in RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after buying an additional 100 shares during the last quarter. Lynx Investment Advisory purchased a new stake in RTX during the 2nd quarter valued at $26,000. Mizuho Securities Co. Ltd. purchased a new stake in RTX during the 2nd quarter valued at $32,000. Fairman Group LLC purchased a new stake in shares of RTX in the 4th quarter worth $38,000. Finally, Beaird Harris Wealth Management LLC increased its stake in shares of RTX by 42.2% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock worth $39,000 after purchasing an additional 139 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RTX. Robert W. Baird upped their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Wells Fargo & Company reduced their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a research note on Thursday. TD Cowen increased their price target on RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada boosted their price objective on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $153.47.

Insider Transactions at RTX

In other news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $113.88, for a total value of $766,867.92. Following the transaction, the vice president now owns 12,318 shares of the company’s stock, valued at approximately $1,402,773.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the transaction, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,333 shares of company stock worth $20,861,880. 0.13% of the stock is currently owned by insiders.

RTX Price Performance

RTX stock traded up $1.05 during trading on Friday, hitting $123.34. 6,371,993 shares of the company’s stock traded hands, compared to its average volume of 5,312,287. RTX Co. has a 52 week low of $68.56 and a 52 week high of $123.70. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. The business has a fifty day simple moving average of $110.19 and a 200 day simple moving average of $103.29. The stock has a market capitalization of $164.07 billion, a price-to-earnings ratio of 48.37, a P/E/G ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business had revenue of $19.72 billion during the quarter, compared to analyst estimates of $19.29 billion. During the same quarter last year, the business earned $1.29 earnings per share. RTX’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, research analysts expect that RTX Co. will post 5.45 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.04%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

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.