Wesbanco Bank Inc. Has $18 Million Stake in RTX Co. (NYSE:RTX)

Wesbanco Bank Inc. grew its stake in RTX Co. (NYSE:RTX - Free Report) by 73.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 184,602 shares of the company's stock after purchasing an additional 78,170 shares during the period. Wesbanco Bank Inc.'s holdings in RTX were worth $18,004,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC lifted its stake in shares of RTX by 7.9% in the 1st quarter. Bruce G. Allen Investments LLC now owns 1,441 shares of the company's stock valued at $141,000 after acquiring an additional 106 shares during the last quarter. Jacobsen Capital Management raised its position in RTX by 3.0% in the fourth quarter. Jacobsen Capital Management now owns 3,890 shares of the company's stock valued at $327,000 after purchasing an additional 114 shares during the last quarter. Diligent Investors LLC boosted its stake in shares of RTX by 1.4% during the fourth quarter. Diligent Investors LLC now owns 8,781 shares of the company's stock valued at $739,000 after purchasing an additional 118 shares in the last quarter. Hummer Financial Advisory Services Inc grew its holdings in shares of RTX by 1.7% during the first quarter. Hummer Financial Advisory Services Inc now owns 7,334 shares of the company's stock worth $715,000 after purchasing an additional 120 shares during the last quarter. Finally, Lcnb Corp increased its stake in shares of RTX by 1.8% in the fourth quarter. Lcnb Corp now owns 7,065 shares of the company's stock valued at $594,000 after buying an additional 122 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RTX has been the topic of a number of recent research reports. TheStreet upgraded shares of RTX from a "c" rating to a "b-" rating in a report on Tuesday, January 23rd. Robert W. Baird upped their price target on RTX from $94.00 to $105.00 and gave the company a "neutral" rating in a research report on Monday, April 8th. Bank of America raised their price objective on RTX from $100.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 24th. Wells Fargo & Company reissued an "overweight" rating and set a $120.00 target price on shares of RTX in a research report on Monday, April 1st. Finally, UBS Group boosted their price target on shares of RTX from $103.00 to $105.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $96.93.

Insider Buying and Selling

In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the business's stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the transaction, the director now owns 129,120 shares of the company's stock, valued at $13,166,366.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other RTX news, CEO Gregory Hayes sold 89,762 shares of the business's stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the sale, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the transaction, the director now owns 129,120 shares of the company's stock, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,842 shares of company stock worth $13,603,426. 0.13% of the stock is owned by insiders.

RTX Stock Up 0.7 %

RTX traded up $0.67 during trading on Thursday, hitting $101.89. 6,083,809 shares of the company's stock were exchanged, compared to its average volume of 8,104,970. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $103.89. The stock has a market cap of $135.46 billion, a P/E ratio of 39.96, a PEG ratio of 1.83 and a beta of 0.84. The business's 50 day moving average is $96.23 and its two-hundred day moving average is $88.21. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.11. The business had revenue of $19.30 billion for the quarter, compared to analysts' expectations of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.22 EPS. As a group, equities analysts expect that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.47%. This is an increase from RTX's previous quarterly dividend of $0.59. RTX's dividend payout ratio is currently 92.55%.

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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