RTX Corporation $RTX Stock Position Reduced by Mechanics Bank Trust Department

Key Points

• Mechanics Bank Trust Department reduced its stake in RTX Corporation by 29.1%, ending with 8,018 shares valued at approximately $1.17 million following the sale of 3,285 shares.
• Analyst ratings for RTX are generally positive, with price targets set between $150.00 and $175.00, reflecting a consensus average price target of $158.87.
• RTX announced a quarterly dividend of $0.68 per share, yielding an annualized rate of 1.7%, demonstrating its ongoing commitment to returning value to shareholders.

Mechanics Bank Trust Department reduced its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 29.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,018 shares of the company's stock after selling 3,285 shares during the period. Mechanics Bank Trust Department's holdings in RTX were worth $1,171,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Seascape Capital Management lifted its stake in shares of RTX by 3.0% in the second quarter. Seascape Capital Management now owns 26,243 shares of the company's stock worth $3,832,000 after acquiring an additional 766 shares in the last quarter. GAMMA Investing LLC raised its position in shares of RTX by 12.6% in the 2nd quarter. GAMMA Investing LLC now owns 35,384 shares of the company's stock valued at $5,167,000 after purchasing an additional 3,954 shares in the last quarter. Strategic Planning Group LLC boosted its stake in shares of RTX by 4.1% during the 2nd quarter. Strategic Planning Group LLC now owns 39,298 shares of the company's stock valued at $5,738,000 after buying an additional 1,559 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its position in shares of RTX by 5.3% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 196,912 shares of the company's stock worth $28,753,000 after buying an additional 9,849 shares in the last quarter. Finally, Rooted Wealth Advisors Inc. bought a new stake in shares of RTX in the second quarter worth $203,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wall Street Zen downgraded shares of RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. UBS Group increased their price target on shares of RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Susquehanna lifted their price target on RTX from $160.00 to $175.00 and gave the stock a "positive" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $170.00 target price (up previously from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of RTX in a report on Monday, July 21st. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.87.

RTX Price Performance

RTX stock traded up $1.34 during trading hours on Monday, hitting $159.58. 3,294,972 shares of the company traded hands, compared to its average volume of 3,943,100. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $161.26. The firm has a market cap of $213.60 billion, a P/E ratio of 35.07, a P/E/G ratio of 2.92 and a beta of 0.67. The firm's 50-day simple moving average is $156.07 and its two-hundred day simple moving average is $141.92. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%.The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $20.68 billion. During the same period last year, the company posted $1.41 EPS. The firm's quarterly revenue was up 9.4% on a year-over-year basis. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were given a $0.68 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.7%. RTX's dividend payout ratio (DPR) is 59.78%.

Insider Buying and Selling at RTX

In other RTX news, insider Philip J. Jasper sold 12,847 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the sale, the insider directly owned 17,684 shares of the company's stock, valued at $2,790,888.88. The trade was a 42.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shane G. Eddy sold 25,968 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $159.79, for a total value of $4,149,426.72. The disclosure for this sale can be found here. Insiders have sold 56,635 shares of company stock valued at $8,947,010 over the last three months. 0.15% of the stock is owned by insiders.

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.