Riverview Trust Co Makes New $179,000 Investment in RTX Co. (NYSE:RTX)

Riverview Trust Co bought a new position in RTX Co. (NYSE:RTXFree Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,840 shares of the company’s stock, valued at approximately $179,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RTX. Bear Mountain Capital Inc. purchased a new stake in RTX in the 4th quarter worth approximately $25,000. Planned Solutions Inc. purchased a new stake in RTX in the 4th quarter worth approximately $30,000. Financial Gravity Asset Management Inc. lifted its position in RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after buying an additional 345 shares in the last quarter. Valley National Advisers Inc. lifted its position in RTX by 37.4% in the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after buying an additional 127 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of RTX during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

NYSE:RTX traded down $0.48 on Tuesday, reaching $101.48. The stock had a trading volume of 3,163,970 shares, compared to its average volume of 7,493,847. The company has a market capitalization of $134.92 billion, a P/E ratio of 39.96, a price-to-earnings-growth ratio of 1.85 and a beta of 0.83. RTX Co. has a 1-year low of $68.56 and a 1-year high of $108.65. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The stock has a fifty day moving average price of $104.42 and a 200-day moving average price of $95.12.

RTX (NYSE:RTXGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.22 earnings per share. Research analysts forecast that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio is presently 98.82%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on RTX shares. Barclays raised their price target on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Bank of America lifted their target price on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. TD Cowen lifted their target price on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Susquehanna lifted their target price on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. Finally, Robert W. Baird raised their price target on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Two 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, RTX presently has an average rating of “Hold” and an average target price of $98.33.

Check Out Our Latest Report on RTX

Insiders Place Their Bets

In other RTX news, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the transaction, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other RTX news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the sale, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the sale, the chief executive officer now owns 636,759 shares in the company, valued at $64,592,832.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 119,937 shares of company stock valued at $12,256,952. Insiders own 0.13% of the company’s stock.

RTX Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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