Stock Yards Bank & Trust Co. Sells 1,801 Shares of RTX Co. (NYSE:RTX)

Stock Yards Bank & Trust Co. cut its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,066 shares of the company's stock after selling 1,801 shares during the period. Stock Yards Bank & Trust Co.'s holdings in RTX were worth $2,923,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. 10Elms LLP bought a new stake in RTX during the fourth quarter worth approximately $29,000. Fairway Wealth LLC purchased a new position in RTX in the 4th quarter worth about $31,000. Picton Mahoney Asset Management increased its position in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after acquiring an additional 265 shares in the last quarter. Greenline Partners LLC acquired a new stake in shares of RTX during the fourth quarter valued at approximately $34,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of RTX in the 4th quarter valued at approximately $39,000. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on RTX shares. Morgan Stanley upgraded RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their target price on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Wells Fargo & Company lifted their price target on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a report on Tuesday, April 15th. Wall Street Zen raised shares of RTX from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. Finally, Robert W. Baird raised shares of RTX from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Three investment 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 company. According to MarketBeat, RTX has a consensus rating of "Buy" and an average target price of $159.82.

RTX Trading Up 1.4%

Shares of RTX traded up $2.04 on Tuesday, reaching $148.50. 7,164,855 shares of the company's stock were exchanged, compared to its average volume of 5,418,043. The business has a 50 day moving average price of $131.94 and a two-hundred day moving average price of $126.76. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a 12 month low of $99.07 and a 12 month high of $149.14. The stock has a market capitalization of $198.39 billion, a P/E ratio of 41.83, a price-to-earnings-growth ratio of 2.11 and a beta of 0.63.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. The business had revenue of $20.31 billion during 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%. Research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.83%. This is a boost from RTX's previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Friday, May 23rd. RTX's dividend payout ratio is presently 79.77%.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the transaction, the executive vice president now owns 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 now directly owns 9,546 shares of the company's stock, valued at $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

RTX 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.