Bangor Savings Bank Lowers Stock Position in RTX Co. (NYSE:RTX)

Bangor Savings Bank lessened its holdings in RTX Co. (NYSE:RTX) by 3.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,860 shares of the company’s stock after selling 772 shares during the quarter. Bangor Savings Bank’s holdings in RTX were worth $3,293,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. 10Elms LLP acquired a new stake in shares of RTX during the 4th quarter valued at approximately $29,000. Fairway Wealth LLC acquired a new stake in shares of RTX during the 4th quarter valued at approximately $31,000. Picton Mahoney Asset Management lifted its position in shares of RTX by 2,944.4% during the 4th 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. Greenline Partners LLC acquired a new position in shares of RTX during the 4th quarter worth approximately $34,000. Finally, Millstone Evans Group LLC acquired a new position in shares of RTX during the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Up 0.1%

Shares of RTX opened at $139.21 on Friday. The stock has a fifty day moving average of $129.63 and a two-hundred day moving average of $125.80. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The company has a market capitalization of $185.98 billion, a PE ratio of 39.21, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $140.65.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The company had revenue of $20.31 billion during the quarter, compared to analysts’ expectations of $19.80 billion. As a group, analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.68 per share. The ex-dividend date is Friday, May 23rd. This is a boost from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 1.95%. RTX’s payout ratio is currently 79.77%.

Insider Activity

In other news, VP Amy L. Johnson sold 4,146 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the sale, the vice president now directly owns 9,546 shares of the company’s stock, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, the executive vice president now directly owns 16,538 shares of the company’s stock, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Cowen restated a “buy” rating on shares of RTX in a research report on Friday, May 23rd. Susquehanna cut their price objective on RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research report on Wednesday, April 23rd. Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Finally, Wells Fargo & Company lifted their price objective on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $159.82.

RTX Company 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.