VeraBank N.A. Sells 210 Shares of RTX Co. (NYSE:RTX)

VeraBank N.A. trimmed its holdings in RTX Co. (NYSE:RTX) by 2.1% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 9,709 shares of the company’s stock after selling 210 shares during the quarter. VeraBank N.A.’s holdings in RTX were worth $947,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RTX. RFG Advisory LLC lifted its position in shares of RTX by 96.1% during the 1st quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after buying an additional 19,779 shares in the last quarter. TCW Group Inc. purchased a new position in shares of RTX during the 4th quarter valued at about $1,912,000. Robinson Smith Wealth Advisors LLC purchased a new position in shares of RTX during the 4th quarter valued at about $672,000. Mather Group LLC. raised its stake in RTX by 8.5% during the 4th quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock valued at $1,153,000 after purchasing an additional 1,079 shares during the period. Finally, Rockline Wealth Management LLC bought a new stake in RTX during the 4th quarter valued at approximately $2,438,000. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RTX. TD Cowen lifted their target price on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Bank of America lifted their target price on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Wells Fargo & Company lifted their price objective on RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Robert W. Baird boosted their price target on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Susquehanna lifted their price objective on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research note on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $98.33.

Insider Activity

In other news, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the sale, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the transaction, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gregory Hayes sold 89,762 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the transaction, the chief executive officer now owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,937 shares of company stock worth $12,256,952. 0.13% of the stock is currently owned by corporate insiders.

RTX Trading Down 0.5 %

RTX traded down $0.46 on Wednesday, reaching $100.65. 6,483,106 shares of the company traded hands, compared to its average volume of 7,508,432. RTX Co. has a one year low of $68.56 and a one year high of $108.65. The firm has a fifty day simple moving average of $104.24 and a two-hundred day simple moving average of $96.60. The company has a market cap of $133.81 billion, a P/E ratio of 39.47, a price-to-earnings-growth ratio of 1.76 and a beta of 0.82. 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) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The company had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. During the same quarter last year, the business posted $1.22 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities research analysts expect that RTX Co. will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be issued a $0.63 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.50%. RTX’s dividend payout ratio is currently 98.82%.

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.