OLD Point Trust & Financial Services N A Has $7.55 Million Stake in RTX Co. (NYSE:RTX)

OLD Point Trust & Financial Services N A lessened its holdings in RTX Co. (NYSE:RTX) by 2.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 65,223 shares of the company’s stock after selling 1,877 shares during the period. RTX accounts for 2.6% of OLD Point Trust & Financial Services N A’s holdings, making the stock its 11th biggest position. OLD Point Trust & Financial Services N A’s holdings in RTX were worth $7,548,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of RTX. Fairway Wealth LLC acquired a new stake in RTX during the 4th quarter worth approximately $31,000. Picton Mahoney Asset Management boosted 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 valued at $31,000 after acquiring an additional 265 shares during the period. Modus Advisors LLC acquired a new position in shares of RTX in the fourth quarter valued at about $39,000. Comprehensive Financial Planning Inc. PA acquired a new stake in RTX in the 4th quarter worth about $40,000. Finally, Iron Horse Wealth Management LLC grew its position in shares of RTX by 296.8% during the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after purchasing an additional 279 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RTX. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and lifted their price target for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Argus upgraded RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Morgan Stanley raised their price target on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $142.00 to $147.00 in a research note on Monday, February 24th. Finally, Royal Bank of Canada boosted their target price on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $166.40.

RTX Stock Performance

Shares of RTX stock opened at $135.47 on Thursday. The firm has a market capitalization of $180.86 billion, a price-to-earnings ratio of 38.16, a PEG ratio of 2.11 and a beta of 0.78. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The business’s 50-day moving average price is $126.43 and its 200-day moving average price is $122.39. RTX Co. has a 12 month low of $94.08 and a 12 month high of $136.01.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Equities research analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.86%. The ex-dividend date is Friday, February 21st. RTX’s payout ratio is presently 70.99%.

Insider Buying and Selling at RTX

In other news, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the sale, the insider now directly owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This represents a 35.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now directly owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,831 shares of company stock worth $10,309,302. 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.