First Citizens Bank & Trust Co. Sells 157 Shares of RTX Co. (NYSE:RTX)

First Citizens Bank & Trust Co. lowered its position in RTX Co. (NYSE:RTX) by 0.9% during the 1st quarter, Holdings Channel reports. The fund owned 18,286 shares of the company’s stock after selling 157 shares during the period. First Citizens Bank & Trust Co.’s holdings in RTX were worth $2,422,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RTX. 10Elms LLP bought a new position in RTX in the fourth quarter worth approximately $29,000. Fairway Wealth LLC bought a new position in RTX in the fourth quarter worth approximately $31,000. Picton Mahoney Asset Management boosted its holdings in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after acquiring an additional 265 shares in the last quarter. Greenline Partners LLC purchased a new stake in shares of RTX in the fourth quarter worth approximately $34,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of RTX in the fourth quarter worth approximately $39,000. Institutional investors own 86.50% of the company’s stock.

Insider Transactions at RTX

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

RTX Stock Performance

NYSE:RTX opened at $140.94 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The business has a fifty day simple moving average of $129.78 and a two-hundred day simple moving average of $125.98. RTX Co. has a 1 year low of $99.07 and a 1 year high of $141.29. The company has a market capitalization of $188.29 billion, a P/E ratio of 39.70, a P/E/G ratio of 2.11 and a beta of 0.63.

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

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a $0.68 dividend. This is a positive change from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Friday, May 23rd. RTX’s dividend payout ratio (DPR) is presently 79.77%.

Wall Street Analyst Weigh In

Several analysts have recently commented on RTX shares. Wells Fargo & Company increased their price objective on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. lowered their price objective on RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Argus raised RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Morgan Stanley raised RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price objective for the company in a research note on Wednesday, April 23rd. Finally, Benchmark raised RTX from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock 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.