Penobscot Investment Management Company Inc. Lowers Position in RTX Co. (NYSE:RTX)

Penobscot Investment Management Company Inc. reduced its stake in RTX Co. (NYSE:RTX) by 4.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,257 shares of the company’s stock after selling 1,881 shares during the period. Penobscot Investment Management Company Inc.’s holdings in RTX were worth $5,237,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new position in shares of RTX in the 4th quarter worth approximately $31,000. Picton Mahoney Asset Management raised its position in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after purchasing an additional 265 shares during the period. Millstone Evans Group LLC acquired a new position in RTX during the fourth quarter worth $39,000. Modus Advisors LLC purchased a new position in shares of RTX during the fourth quarter worth $39,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in shares of RTX in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of research analyst reports. Argus upgraded RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Morgan Stanley raised their price objective on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. Wells Fargo & Company raised their price target on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Susquehanna upped their price objective on RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, RTX has a consensus rating of “Moderate Buy” and an average price target of $166.40.

Insider Buying and Selling

In other news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the transaction, the chief financial officer now directly owns 59,556 shares in the company, valued at approximately $7,763,124.60. This trade represents a 21.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the sale, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock worth $10,309,302 in the last quarter. 0.15% of the stock is owned by insiders.

RTX Stock Performance

Shares of RTX opened at $135.84 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a 52-week low of $95.58 and a 52-week high of $135.94. The stock has a 50 day moving average price of $127.81 and a 200 day moving average price of $122.79. The company has a market capitalization of $181.36 billion, a price-to-earnings ratio of 38.26, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Research analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.86%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

RTX Company 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.