RTX Co. (NYSE:RTX) Shares Bought by Somerset Trust Co

Somerset Trust Co boosted its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 7.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,746 shares of the company's stock after purchasing an additional 2,722 shares during the period. RTX makes up approximately 1.8% of Somerset Trust Co's portfolio, making the stock its 18th biggest holding. Somerset Trust Co's holdings in RTX were worth $5,132,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. 10Elms LLP acquired a new position in RTX in the 4th quarter worth $29,000. Fairway Wealth LLC acquired a new position in RTX in the 4th quarter worth $31,000. Picton Mahoney Asset Management lifted its holdings in RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after buying an additional 265 shares in the last quarter. Greenline Partners LLC acquired a new position in RTX in the 4th quarter worth $34,000. Finally, Millstone Evans Group LLC acquired a new position in RTX in the 4th quarter worth $39,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RTX shares. Benchmark raised shares of RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a research report on Wednesday, May 14th. Baird R W raised shares of RTX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Wall Street Zen raised shares of RTX from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Susquehanna cut their target price on shares of RTX from $147.00 to $140.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada cut their price target on shares of RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Three research 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 stock. According to data from MarketBeat, RTX presently has a consensus rating of "Buy" and a consensus price target of $159.82.

RTX Stock Performance

Shares of NYSE RTX traded up $1.01 during trading on Monday, hitting $137.49. The company had a trading volume of 3,944,836 shares, compared to its average volume of 5,381,601. The stock has a 50 day simple moving average of $129.09 and a 200 day simple moving average of $125.17. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a 12 month low of $99.07 and a 12 month high of $138.82. The firm has a market capitalization of $183.68 billion, a P/E ratio of 38.73, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Friday, May 23rd. This is a positive change from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio is presently 79.77%.

Insider Activity at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was 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 now owns 9,546 shares in the company, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is currently owned by insiders.

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.