RTX Corporation (NYSE:RTX) Shares Acquired by Chemung Canal Trust Co.

Chemung Canal Trust Co. lifted its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 172.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,115 shares of the company's stock after purchasing an additional 23,503 shares during the quarter. Chemung Canal Trust Co.'s holdings in RTX were worth $4,916,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 1620 Investment Advisors Inc. lifted its stake in shares of RTX by 0.7% in the 4th quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company's stock valued at $1,401,000 after purchasing an additional 79 shares during the last quarter. Guardian Wealth Advisors LLC NC lifted its position in RTX by 1.7% during the 4th quarter. Guardian Wealth Advisors LLC NC now owns 4,978 shares of the company's stock worth $576,000 after acquiring an additional 82 shares during the last quarter. Foster Victor Wealth Advisors LLC lifted its position in RTX by 2.1% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 3,934 shares of the company's stock worth $505,000 after acquiring an additional 82 shares during the last quarter. CLG LLC lifted its position in RTX by 2.3% during the 1st quarter. CLG LLC now owns 3,686 shares of the company's stock worth $488,000 after acquiring an additional 83 shares during the last quarter. Finally, 49 Wealth Management LLC lifted its position in RTX by 3.3% during the 4th quarter. 49 Wealth Management LLC now owns 2,609 shares of the company's stock worth $302,000 after acquiring an additional 84 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RTX shares. Citigroup cut their price objective on shares of RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Wall Street Zen lowered shares of RTX from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Robert W. Baird raised shares of RTX from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $136.00 to $160.00 in a research report on Wednesday, March 19th. The Goldman Sachs Group upped their price objective 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. Finally, Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a research report on Wednesday, May 14th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $161.12.

Insider Buying and Selling at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the 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 directly owned 9,546 shares in the company, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction 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 sale, 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 position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

RTX Price Performance

Shares of RTX stock opened at $144.93 on Wednesday. RTX Corporation has a 1-year low of $99.42 and a 1-year high of $149.26. The firm's 50-day moving average price is $138.04 and its two-hundred day moving average price is $129.77. The stock has a market capitalization of $193.62 billion, a price-to-earnings ratio of 42.50, a P/E/G ratio of 2.64 and a beta of 0.64. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX - Get Free Report) last announced 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 net margin of 5.63% and a return on equity of 12.71%. The company had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. On average, equities analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.88%. RTX's dividend payout ratio (DPR) is presently 79.77%.

About RTX

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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