Rockland Trust Co. Sells 2,299 Shares of RTX Co. (NYSE:RTX)

Rockland Trust Co. trimmed its holdings in RTX Co. (NYSE:RTX) by 17.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,570 shares of the company’s stock after selling 2,299 shares during the quarter. Rockland Trust Co.’s holdings in RTX were worth $1,031,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in RTX. Bruce G. Allen Investments LLC increased its position in RTX by 7.9% in the first quarter. Bruce G. Allen Investments LLC now owns 1,441 shares of the company’s stock worth $141,000 after purchasing an additional 106 shares during the period. Jacobsen Capital Management increased its position in RTX by 3.0% in the fourth quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock worth $327,000 after purchasing an additional 114 shares during the period. Diligent Investors LLC increased its position in RTX by 1.4% in the fourth quarter. Diligent Investors LLC now owns 8,781 shares of the company’s stock worth $739,000 after purchasing an additional 118 shares during the period. Lcnb Corp increased its position in RTX by 1.8% in the fourth quarter. Lcnb Corp now owns 7,065 shares of the company’s stock worth $594,000 after purchasing an additional 122 shares during the period. Finally, Valley National Advisers Inc. increased its position in RTX by 37.4% in the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after purchasing an additional 127 shares during the period. 86.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RTX. Citigroup lifted their price objective on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Wells Fargo & Company boosted their target price on RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. UBS Group boosted their target price on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. TD Cowen boosted their target price on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Finally, Bank of America boosted their target price on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, RTX has an average rating of “Hold” and an average target price of $98.33.

Insider Activity at RTX

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the transaction, the director now directly owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the transaction, the insider now directly owns 149,050 shares in the company, valued at $15,757,566. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,937 shares of company stock worth $12,256,952. Company insiders own 0.13% of the company’s stock.

RTX Trading Up 0.5 %

Shares of RTX stock opened at $105.61 on Friday. RTX Co. has a 12-month low of $68.56 and a 12-month high of $108.65. The stock has a market cap of $140.41 billion, a P/E ratio of 41.42, a P/E/G ratio of 1.84 and a beta of 0.83. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The business’s 50 day moving average is $104.38 and its 200-day moving average is $94.89.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. During the same quarter in the prior year, the business posted $1.22 EPS. The business’s revenue was up 12.1% compared to the same quarter last year. Equities research analysts predict that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

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.