Legacy Private Trust Co. Increases Stake in RTX Co. (NYSE:RTX)

Legacy Private Trust Co. lifted its position in shares of RTX Co. (NYSE:RTX - Free Report) by 91.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,498 shares of the company's stock after purchasing an additional 3,100 shares during the quarter. Legacy Private Trust Co.'s holdings in RTX were worth $861,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. 10Elms LLP purchased a new position in RTX during the 4th quarter worth $29,000. Fairway Wealth LLC bought a new position in RTX in the 4th quarter valued at $31,000. Picton Mahoney Asset Management increased its position in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after purchasing an additional 265 shares during the last quarter. Greenline Partners LLC purchased a new position in shares of RTX in the 4th quarter worth about $34,000. Finally, Millstone Evans Group LLC bought a new position in RTX during the fourth quarter valued at about $39,000. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Up 0.6%

NYSE RTX traded up $0.85 during trading hours on Wednesday, reaching $138.35. 1,041,734 shares of the company's stock traded hands, compared to its average volume of 5,355,033. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The firm has a 50-day simple moving average of $129.24 and a 200 day simple moving average of $125.39. RTX Co. has a 52-week low of $99.07 and a 52-week high of $138.82. The firm has a market cap of $184.83 billion, a PE ratio of 38.97, a PEG ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The company had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. Sell-side analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Friday, May 23rd. This is a boost from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is currently 79.77%.

Insiders Place Their Bets

In related news, VP Amy L. Johnson sold 4,146 shares of the business'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 sale, the vice president now owns 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on RTX shares. Royal Bank of Canada lowered their price objective on shares of RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley upgraded RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price objective on the stock in a research note on Wednesday, April 23rd. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a research note on Friday, April 25th. Citigroup cut their target price on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and upped their price target for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $159.82.

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.