RTX Co. (NYSE:RTX) Stock Position Raised by CNB Bank

CNB Bank lifted its position in RTX Co. (NYSE:RTX) by 10.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 10,523 shares of the company’s stock after buying an additional 1,027 shares during the quarter. CNB Bank’s holdings in RTX were worth $1,275,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Alaska Permanent Fund Corp acquired a new stake in shares of RTX in the 1st quarter valued at $42,000. &PARTNERS lifted its position in shares of RTX by 64.7% in the first quarter. &PARTNERS now owns 5,991 shares of the company’s stock worth $584,000 after buying an additional 2,353 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of RTX during the 1st quarter worth about $169,000. Global Assets Advisory LLC acquired a new position in shares of RTX during the 1st quarter valued at about $7,523,000. Finally, Harbor Investment Advisory LLC raised its stake in shares of RTX by 9.5% in the 1st quarter. Harbor Investment Advisory LLC now owns 13,994 shares of the company’s stock valued at $1,365,000 after acquiring an additional 1,210 shares in the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Buying and Selling at RTX

In other news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 of the company’s stock, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated 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 sale, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the transaction, the vice president now directly owns 45,208 shares of the company’s stock, valued at $5,197,111.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

RTX has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. The Goldman Sachs Group boosted their target price on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Royal Bank of Canada raised their price target on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Finally, Susquehanna boosted their price objective on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, RTX currently has a consensus rating of “Hold” and a consensus price target of $162.50.

RTX Stock Performance

RTX opened at $125.92 on Friday. The stock has a market cap of $167.41 billion, a PE ratio of 49.38, a P/E/G ratio of 2.21 and a beta of 0.82. RTX Co. has a 1 year low of $72.48 and a 1 year high of $127.00. The stock’s 50 day simple moving average is $120.91 and its 200-day simple moving average is $110.46. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.11. The firm had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 EPS. Sell-side analysts forecast that RTX Co. will post 5.45 EPS for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is 98.82%.

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.