Burke & Herbert Bank & Trust Co. Sells 2,260 Shares of RTX Corporation (NYSE:RTX)

Burke & Herbert Bank & Trust Co. trimmed its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,318 shares of the company's stock after selling 2,260 shares during the period. Burke & Herbert Bank & Trust Co.'s holdings in RTX were worth $2,824,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of RTX. Adell Harriman & Carpenter Inc. raised its stake in RTX by 13.6% in the first quarter. Adell Harriman & Carpenter Inc. now owns 88,966 shares of the company's stock worth $11,785,000 after buying an additional 10,619 shares in the last quarter. Braun Stacey Associates Inc. bought a new position in RTX in the first quarter worth about $23,350,000. Seascape Capital Management bought a new position in RTX in the first quarter worth about $3,375,000. World Investment Advisors grew its holdings in RTX by 4.0% in the first quarter. World Investment Advisors now owns 53,311 shares of the company's stock worth $7,062,000 after purchasing an additional 2,027 shares during the period. Finally, Olde Wealth Management LLC purchased a new stake in RTX in the first quarter worth about $60,000. 86.50% of the stock is owned by institutional investors.

RTX Price Performance

RTX stock opened at $145.80 on Friday. The stock has a market cap of $194.78 billion, a price-to-earnings ratio of 42.76, a price-to-earnings-growth ratio of 2.63 and a beta of 0.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. RTX Corporation has a 1 year low of $99.42 and a 1 year high of $149.26. The firm has a 50-day moving average of $137.24 and a two-hundred day moving average of $129.26.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. On average, research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.87%. RTX's dividend payout ratio (DPR) is 79.77%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. UBS Group upped their price objective on shares of RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Morgan Stanley upgraded shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price objective on the stock in a report on Wednesday, April 23rd. Benchmark upgraded shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a report on Wednesday, May 14th. Baird R W upgraded shares of RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, Wall Street Zen cut shares of RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $161.12.

Insider Activity

In other news, EVP Dantaya M. Williams sold 16,922 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president owned 16,538 shares in the company, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the sale, the vice president owned 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by 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.

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