First American Bank Buys 867 Shares of RTX Co. (NYSE:RTX)

First American Bank grew its stake in shares of RTX Co. (NYSE:RTX) by 1.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,884 shares of the company’s stock after buying an additional 867 shares during the quarter. First American Bank’s holdings in RTX were worth $5,559,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Capital Research Global Investors grew its stake in shares of RTX by 4.2% during the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after buying an additional 3,761,246 shares during the last quarter. Capital International Investors grew its stake in shares of RTX by 4.8% during the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after buying an additional 3,161,165 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of RTX by 2.0% during the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock valued at $1,066,847,000 after buying an additional 213,331 shares during the last quarter. Legal & General Group Plc grew its stake in shares of RTX by 4.4% during the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after buying an additional 362,340 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of RTX by 5.2% in the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after purchasing an additional 408,551 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on RTX shares. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Bank of America raised RTX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. The Goldman Sachs Group raised their target price on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research report on Tuesday, July 30th. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $175.27.

RTX Price Performance

RTX stock opened at $125.16 on Monday. The firm has a 50 day moving average price of $121.74 and a 200-day moving average price of $111.42. RTX Co. has a 52-week low of $77.76 and a 52-week high of $128.70. The firm has a market capitalization of $166.59 billion, a price-to-earnings ratio of 35.76, a PEG ratio of 2.17 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same period in the previous year, the business earned $1.25 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities research analysts forecast that RTX Co. will post 5.57 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.01%. RTX’s payout ratio is currently 72.00%.

Insider Buying and Selling

In related news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the completion of the transaction, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by company insiders.

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.