RTX Corporation (NYSE:RTX) Shares Sold by Commerce Bank

Key Points

• Commerce Bank reduced its position in RTX Corporation by 2.8%, resulting in ownership of 546,772 shares worth approximately $72.4 million as of the latest SEC filing.
• Analysts have increased target prices for RTX shares, with Barclays setting a new target of $153, while Morgan Stanley raised theirs to $180, reflecting a generally positive outlook on the stock.
• RTX has announced a quarterly dividend of $0.68 per share, with a dividend yield of 1.7%, which will be paid to investors of record by August 15th.

Commerce Bank reduced its position in RTX Corporation (NYSE:RTX - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 546,772 shares of the company's stock after selling 15,511 shares during the period. Commerce Bank's holdings in RTX were worth $72,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new stake in RTX in the 1st quarter worth $26,000. 10Elms LLP purchased a new stake in RTX in the 4th quarter worth $29,000. Greenline Partners LLC purchased a new stake in shares of RTX during the fourth quarter worth $34,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of RTX during the fourth quarter worth $43,000. Finally, Capital A Wealth Management LLC purchased a new stake in shares of RTX during the fourth quarter worth $45,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Analysts Set New Price Targets

RTX has been the subject of a number of research reports. Barclays upped their target price on shares of RTX from $130.00 to $153.00 and gave the stock an "equal weight" rating in a report on Tuesday. Morgan Stanley upped their target price on shares of RTX from $165.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. The Goldman Sachs Group upped their target price on shares of RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Bank of America upped their price objective on shares of RTX from $150.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of RTX from $145.00 to $175.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $158.67.

Insider Activity

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction that occurred 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 transaction, the vice president directly owned 9,546 shares in the company, valued at $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the transaction, the executive vice president owned 16,538 shares in the company, 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. Insiders have sold a total of 31,234 shares of company stock valued at $4,439,755 over the last three months. 0.15% of the stock is currently owned by corporate insiders.

RTX Stock Down 0.6%

Shares of RTX opened at $157.51 on Friday. The stock has a market capitalization of $210.83 billion, a PE ratio of 34.62, a P/E/G ratio of 2.92 and a beta of 0.64. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $158.79. 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 company's 50-day simple moving average is $145.20 and its 200-day simple moving average is $133.94.

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, topping the consensus estimate of $1.45 by $0.11. RTX had a net margin of 7.35% and a return on equity of 12.89%. The business had revenue of $21.58 billion for the quarter, compared to analysts' expectations of $20.68 billion. During the same quarter in the prior year, the company earned $1.41 earnings per share. The business's quarterly revenue was up 9.4% on a year-over-year basis. Analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company 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 dividend yield of 1.7%. RTX's payout ratio is 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.

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