City National Bank of Florida MSD Acquires 2,205 Shares of RTX Corporation (NYSE:RTX)

City National Bank of Florida MSD lifted its holdings in RTX Corporation (NYSE:RTX - Free Report) by 60.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,828 shares of the company's stock after buying an additional 2,205 shares during the quarter. RTX comprises 0.7% of City National Bank of Florida MSD's portfolio, making the stock its 24th biggest holding. City National Bank of Florida MSD's holdings in RTX were worth $772,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. MorganRosel Wealth Management LLC acquired a new position in shares of RTX in the 1st quarter valued at $26,000. 10Elms LLP acquired a new position in shares of RTX in the 4th quarter valued at $29,000. Greenline Partners LLC acquired a new position in shares of RTX in the 4th quarter valued at $34,000. Millstone Evans Group LLC bought a new stake in RTX in the 4th quarter valued at $39,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in RTX in the 4th quarter valued at $43,000. 86.50% of the stock is owned by institutional investors.

RTX Trading Up 1.1%

RTX traded up $1.64 during trading on Friday, hitting $156.86. 4,727,235 shares of the stock traded hands, compared to its average volume of 4,909,235. The firm has a market capitalization of $209.96 billion, a P/E ratio of 34.47, a price-to-earnings-growth ratio of 2.86 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. The firm has a 50-day moving average of $143.48 and a 200 day moving average of $132.81. RTX Corporation has a 12-month low of $112.27 and a 12-month high of $157.33.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.45 by $0.11. RTX had a net margin of 7.35% and a return on equity of 12.89%. The firm had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $20.68 billion. During the same period last year, the company posted $1.41 EPS. The company's quarterly revenue was up 9.4% compared to the same quarter last year. Equities research analysts anticipate that RTX Corporation will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.73%. RTX's dividend payout ratio is 59.78%.

Insider Transactions at RTX

In other RTX news, EVP Ramsaran Maharajh sold 1,462 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the completion of the sale, the executive vice president directly owned 13,184 shares in the company, valued at approximately $2,007,395.84. This trade represents a 9.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction that occurred on 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 owned 9,546 shares of the company's stock, valued at $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,530 shares of company stock valued at $3,080,191. Company insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RTX shares. Cowen reaffirmed a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Bank of America boosted their price objective on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday. Sanford C. Bernstein set a $154.00 price objective on shares of RTX and gave the company a "market perform" rating in a research report on Friday, July 11th. DZ Bank raised shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective on the stock in a research report on Friday, April 25th. Finally, Jefferies Financial Group reissued a "hold" rating on shares of RTX in a research report on Monday. Six research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $154.88.

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.