Central Pacific Bank Trust Division Buys 2,908 Shares of RTX Co. (NYSE:RTX)

Central Pacific Bank Trust Division lifted its position in shares of RTX Co. (NYSE:RTX - Free Report) by 10.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,998 shares of the company's stock after purchasing an additional 2,908 shares during the quarter. Central Pacific Bank Trust Division's holdings in RTX were worth $4,238,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 10Elms LLP bought a new stake in RTX during the 4th quarter worth about $29,000. Fairway Wealth LLC bought a new position in RTX during the fourth quarter worth about $31,000. Picton Mahoney Asset Management grew its stake in RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after buying an additional 265 shares during the last quarter. Greenline Partners LLC acquired a new position in RTX in the 4th quarter valued at about $34,000. Finally, Millstone Evans Group LLC acquired a new position in RTX in the 4th quarter valued at about $39,000. 86.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

RTX has been the subject of several recent research reports. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 price target for the company in a research note on Wednesday, May 14th. Morgan Stanley upgraded shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target for the company in a report on Wednesday, April 23rd. Wall Street Zen upgraded shares of RTX from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. Susquehanna decreased their price objective on RTX from $147.00 to $140.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Finally, Citigroup decreased their price objective on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, RTX currently has an average rating of "Buy" and a consensus target price of $159.82.

Insider Buying and Selling at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction dated Tuesday, May 6th. The stock was 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 now owns 9,546 shares in the company, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.15% of the company's stock.

RTX Stock Up 0.4%

RTX stock traded up $0.59 during mid-day trading on Monday, reaching $137.07. 1,690,776 shares of the company traded hands, compared to its average volume of 5,269,996. The stock has a market cap of $183.12 billion, a price-to-earnings ratio of 38.61, a P/E/G ratio of 2.11 and a beta of 0.60. 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 fifty-two week low of $99.07 and a fifty-two week high of $138.82. The firm's 50 day moving average price is $129.09 and its 200 day moving average price is $125.17.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The firm had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. As a group, equities research analysts predict that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be paid a $0.68 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.72 annualized dividend and a yield of 1.98%. This is an increase from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is currently 79.77%.

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.