M&T Bank Corp Sells 24,308 Shares of RTX Corporation (NYSE:RTX)

M&T Bank Corp lowered its stake in shares of RTX Corporation (NYSE:RTX - Free Report) by 4.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 570,682 shares of the company's stock after selling 24,308 shares during the quarter. M&T Bank Corp's holdings in RTX were worth $75,592,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in RTX. Brighton Jones LLC grew its holdings in RTX by 24.3% during the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock worth $1,969,000 after acquiring an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in RTX by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock worth $564,000 after acquiring an additional 159 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in RTX by 65.5% during the 4th quarter. Proficio Capital Partners LLC now owns 9,015 shares of the company's stock worth $1,043,000 after acquiring an additional 3,568 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in RTX during the 4th quarter worth about $81,000. Finally, BOK Financial Private Wealth Inc. lifted its position in RTX by 43.3% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 414 shares of the company's stock valued at $48,000 after purchasing an additional 125 shares during the period. Institutional investors own 86.50% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on RTX. Wall Street Zen downgraded shares of RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Wells Fargo & Company upped their target price on shares of RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research report on Tuesday, April 15th. The Goldman Sachs Group upped their target price on shares of RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a research report on Monday, June 23rd. Robert W. Baird upgraded shares of RTX from a "neutral" rating to an "outperform" rating and upped their target price for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. Finally, Citigroup cut their target price on shares of RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $161.12.

Insider Buying and Selling

In other news, VP Amy L. Johnson sold 4,146 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president directly owned 9,546 shares of the company's stock, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the transaction, the executive vice president directly owned 16,538 shares of the company's stock, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

RTX Stock Performance

Shares of NYSE:RTX opened at $146.00 on Tuesday. The firm's 50 day simple moving average is $137.66 and its 200 day simple moving average is $129.67. RTX Corporation has a fifty-two week low of $99.42 and a fifty-two week high of $149.26. 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 company has a market capitalization of $195.05 billion, a price-to-earnings ratio of 42.82, a P/E/G ratio of 2.63 and a beta of 0.64.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.71% and a net margin of 5.63%. The business had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. As a group, sell-side analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The firm 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 dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.86%. RTX's payout ratio is 79.77%.

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.

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