RTX Corporation (NYSE:RTX) Shares Sold by First National Advisers LLC

Key Points

• First National Advisers LLC reduced its holdings in RTX Corporation by 15.4%, selling 7,828 shares, leaving it with 42,965 shares valued at approximately $5.69 million.
• RTX's recent quarterly earnings showed an earnings per share (EPS) of $1.56, exceeding estimates, and a revenue of $21.58 billion, representing a 9.4% year-over-year increase.
• The company announced a quarterly dividend of $0.68 per share, with a dividend yield of 1.73% and a payout ratio of 59.78%.

First National Advisers LLC decreased its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 15.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,965 shares of the company's stock after selling 7,828 shares during the quarter. RTX comprises approximately 0.9% of First National Advisers LLC's holdings, making the stock its 18th largest position. First National Advisers LLC's holdings in RTX were worth $5,691,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC bought a new position in shares of RTX in the 1st quarter worth $26,000. 10Elms LLP acquired a new position in shares of RTX in the fourth quarter valued at approximately $29,000. Greenline Partners LLC bought a new stake in shares of RTX in the fourth quarter valued at approximately $34,000. Mpwm Advisory Solutions LLC bought a new stake in RTX during the fourth quarter worth $43,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of RTX during the first quarter worth $50,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Barclays increased their price objective on RTX from $130.00 to $153.00 and gave the company an "equal weight" rating in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of RTX from $145.00 to $175.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Sanford C. Bernstein set a $154.00 price target on shares of RTX and gave the company a "market perform" rating in a research report on Friday, July 11th. Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price target on the stock in a research report on Wednesday, May 14th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $170.00 price objective (up previously from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $158.67.

Insider Activity

In other news, VP Kevin G. Dasilva sold 8,704 shares of the company's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the completion of the sale, the vice president owned 30,004 shares of the company's stock, valued at $4,686,624.80. This represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ramsaran Maharajh sold 1,462 shares of the company'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 of the company's stock, valued at $2,007,395.84. This represents a 9.98% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,234 shares of company stock valued at $4,439,755. 0.15% of the stock is currently owned by company insiders.

RTX Price Performance

RTX stock traded down $0.66 during trading on Thursday, hitting $157.74. 2,411,625 shares of the company's stock traded hands, compared to its average volume of 5,388,639. The business has a fifty day simple moving average of $144.73 and a 200 day simple moving average of $133.67. The stock has a market capitalization of $211.15 billion, a price-to-earnings ratio of 34.66, a P/E/G ratio of 2.89 and a beta of 0.64. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. RTX Corporation has a 52 week low of $112.27 and a 52 week high of $158.79.

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

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.72%. RTX's dividend payout ratio is currently 59.78%.

RTX 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.