Argent Trust Co Has $14.57 Million Stock Holdings in RTX Corporation (NYSE:RTX)

Key Points

• Argent Trust Co increased its holdings in RTX Corporation by 26.3%, acquiring 22,902 shares to reach a total of 109,954 shares, valued at approximately $14.57 million.
• Wall Street analysts have a positive outlook on RTX, with a consensus rating of "Moderate Buy" and a target price averaging $158.67 based on various research reports.
• RTX announced a quarterly dividend of $0.68 per share, indicating a dividend yield of 1.7% based on an annualized payout of $2.72.

Argent Trust Co raised its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 26.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 109,954 shares of the company's stock after acquiring an additional 22,902 shares during the period. Argent Trust Co's holdings in RTX were worth $14,565,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Guardian Wealth Advisors LLC NC grew its stake in shares of RTX by 1.7% in the fourth quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock worth $576,000 after purchasing an additional 82 shares in the last quarter. Foster Victor Wealth Advisors LLC boosted its stake in RTX by 2.1% during the first quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock valued at $505,000 after buying an additional 82 shares in the last quarter. Weatherly Asset Management L. P. boosted its stake in RTX by 0.4% during the first quarter. Weatherly Asset Management L. P. now owns 20,888 shares of the company's stock valued at $2,767,000 after buying an additional 82 shares in the last quarter. CLG LLC boosted its stake in RTX by 2.3% during the first quarter. CLG LLC now owns 3,686 shares of the company's stock valued at $488,000 after buying an additional 83 shares in the last quarter. Finally, 49 Wealth Management LLC boosted its stake in RTX by 3.3% during the fourth quarter. 49 Wealth Management LLC now owns 2,609 shares of the company's stock valued at $302,000 after buying an additional 84 shares in the last quarter. Institutional investors own 86.50% of the company's stock.

RTX Stock Performance

Shares of RTX traded down $1.57 on Tuesday, reaching $155.81. 868,027 shares of the stock traded hands, compared to its average volume of 5,357,306. The stock's 50-day moving average price is $146.19 and its 200-day moving average price is $134.66. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The firm has a market cap of $208.56 billion, a price-to-earnings ratio of 34.31, a P/E/G ratio of 2.89 and a beta of 0.69. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $158.79.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.11. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. The business's revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.41 earnings per share. Equities analysts forecast that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.7%. RTX's dividend payout ratio (DPR) is presently 59.78%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on RTX shares. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $170.00 target price (up previously from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 price target for the company in a research report on Wednesday, May 14th. Bank of America increased their price target on RTX from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Susquehanna boosted their price target on shares of RTX from $160.00 to $175.00 and gave the company a "positive" rating in a report on Wednesday, July 23rd. Finally, Jefferies Financial Group restated a "hold" rating on shares of RTX in a report on Monday, July 21st. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.67.

Insider Activity

In other news, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, the executive vice president owned 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 document filed with the SEC, which is available through this hyperlink. Also, VP Kevin G. Dasilva sold 8,704 shares of the firm's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $156.20, for a total value of $1,359,564.80. Following the sale, the vice president directly owned 30,004 shares in the company, valued at approximately $4,686,624.80. This represents a 22.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,088 shares of company stock valued at $3,910,975 over the last 90 days. 0.15% of the stock is owned by company insiders.

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.