First National Trust Co Lowers Position in RTX Corporation (NYSE:RTX)

Key Points

• First National Trust Co has reduced its holdings in RTX Corporation by 16.7%, now owning 30,868 shares valued at approximately $4,089,000 after selling 6,204 shares in the first quarter.
• RTX stock is currently trading at $158.51 with a market capitalization of $212.17 billion, and it recently reported earnings of $1.56 EPS, beating analyst estimates.
• The company has declared a quarterly dividend of $0.68, which will be paid on September 4th, indicating a dividend yield of 1.72%.

First National Trust Co decreased its holdings in RTX Corporation (NYSE:RTX - Free Report) by 16.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,868 shares of the company's stock after selling 6,204 shares during the period. First National Trust Co's holdings in RTX were worth $4,089,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MorganRosel Wealth Management LLC purchased a new position in shares of RTX in the 1st quarter worth approximately $26,000. 10Elms LLP bought a new stake in shares of RTX during the 4th quarter worth approximately $29,000. Greenline Partners LLC bought a new stake in shares of RTX during the 4th quarter worth approximately $34,000. Mpwm Advisory Solutions LLC bought a new stake in shares of RTX during the 4th quarter worth approximately $43,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of RTX during the 1st quarter worth approximately $50,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Analyst Ratings Changes

RTX has been the subject of several research analyst reports. Cowen reiterated a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Sanford C. Bernstein set a $154.00 price target on RTX and gave the company a "market perform" rating in a report on Friday, July 11th. Citigroup boosted their price target on RTX from $148.00 to $182.00 and gave the company a "buy" rating in a report on Monday, July 14th. Wall Street Zen lowered RTX from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Finally, UBS Group boosted their price target on RTX from $166.00 to $177.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, RTX currently has an average rating of "Moderate Buy" and an average price target of $157.13.

Insider Activity at RTX

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction on 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 transaction, the executive vice president owned 16,538 shares of the company's stock, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the transaction, the vice president directly owned 9,546 shares in the company, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,234 shares of company stock valued at $4,439,755 over the last 90 days. Company insiders own 0.15% of the company's stock.

RTX Stock Up 0.9%

NYSE:RTX traded up $1.39 during midday trading on Wednesday, reaching $158.51. 3,994,084 shares of the stock traded hands, compared to its average volume of 4,567,239. RTX Corporation has a 12-month low of $112.27 and a 12-month high of $158.79. The business has a 50-day moving average of $144.73 and a two-hundred day moving average of $133.67. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The stock has a market capitalization of $212.17 billion, a PE ratio of 34.84, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64.

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

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors 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 1.72%. RTX's payout ratio is currently 59.78%.

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.