Security National Bank Has $2.95 Million Position in RTX Corporation (NYSE:RTX)

Security National Bank increased its holdings in RTX Corporation (NYSE:RTX) by 1,283.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,248 shares of the company’s stock after purchasing an additional 20,640 shares during the period. Security National Bank’s holdings in RTX were worth $2,947,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RTX. Phillips Wealth Planners LLC grew its stake in shares of RTX by 76.6% in the 1st quarter. Phillips Wealth Planners LLC now owns 7,477 shares of the company’s stock valued at $959,000 after purchasing an additional 3,242 shares during the period. Omnia Family Wealth LLC grew its position in RTX by 17.6% in the first quarter. Omnia Family Wealth LLC now owns 2,866 shares of the company’s stock valued at $380,000 after acquiring an additional 429 shares during the period. Tyche Wealth Partners LLC grew its position in RTX by 3.3% in the first quarter. Tyche Wealth Partners LLC now owns 16,971 shares of the company’s stock valued at $2,248,000 after acquiring an additional 548 shares during the period. Alpine Bank Wealth Management acquired a new position in RTX during the first quarter worth $485,000. Finally, HBK Sorce Advisory LLC lifted its holdings in shares of RTX by 1.2% during the first quarter. HBK Sorce Advisory LLC now owns 46,035 shares of the company’s stock valued at $6,098,000 after acquiring an additional 556 shares during the period. Institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of recent analyst reports. Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Wall Street Zen lowered shares of RTX from a “buy” rating to a “hold” rating in a report on Saturday, June 21st. Wells Fargo & Company boosted their target price on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday, April 15th. Benchmark upgraded RTX from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. cut their price objective on RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $161.12.

RTX Trading Down 0.4%

Shares of RTX opened at $141.29 on Thursday. The stock’s fifty day simple moving average is $134.28 and its 200-day simple moving average is $127.93. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $188.76 billion, a PE ratio of 41.43, a price-to-earnings-growth ratio of 2.56 and a beta of 0.63. RTX Corporation has a 12-month low of $99.07 and a 12-month high of $149.26.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The company had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. As a group, research analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were paid a $0.68 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This is a boost from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 1.93%. RTX’s dividend payout ratio (DPR) is presently 79.77%.

Insiders Place Their Bets

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president now owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the transaction, the executive vice president now owns 16,538 shares of the company’s stock, valued at $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.