First Bank & Trust Purchases New Stake in RTX Co. (NYSE:RTX)

First Bank & Trust purchased a new stake in RTX Co. (NYSE:RTX) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,101 shares of the company’s stock, valued at approximately $205,000.

Several other hedge funds have also recently bought and sold shares of RTX. Sherbrooke Park Advisers LLC bought a new position in shares of RTX during the third quarter worth about $594,000. Caxton Associates LP acquired a new stake in RTX in the 3rd quarter valued at about $996,000. Gotham Asset Management LLC lifted its stake in RTX by 86.9% during the third quarter. Gotham Asset Management LLC now owns 27,664 shares of the company’s stock valued at $1,991,000 after buying an additional 12,863 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in RTX by 5,145.3% during the third quarter. Schonfeld Strategic Advisors LLC now owns 23,971 shares of the company’s stock valued at $1,725,000 after buying an additional 23,514 shares in the last quarter. Finally, Dempze Nancy E lifted its stake in RTX by 0.5% during the third quarter. Dempze Nancy E now owns 28,829 shares of the company’s stock valued at $2,075,000 after buying an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Ratings Changes

RTX has been the subject of a number of research analyst reports. Bank of America increased their price target on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Barclays increased their price objective on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Susquehanna increased their price objective on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. Wells Fargo & Company increased their price target on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a report on Friday, May 17th. Finally, Robert W. Baird increased their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $98.33.

Insider Buying and Selling

In related news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the transaction, the chief executive officer now owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other RTX news, insider Stephen J. Timm sold 19,880 shares of RTX 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 sale, the insider now directly owns 149,050 shares of the company’s stock, valued at $15,757,566. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the sale, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The disclosure for this sale can be found here. Insiders sold 119,937 shares of company stock valued at $12,256,952 over the last quarter. Insiders own 0.13% of the company’s stock.

RTX Price Performance

RTX stock opened at $100.39 on Friday. The company has a fifty day moving average price of $104.42 and a 200-day moving average price of $95.57. The company has a market capitalization of $133.47 billion, a P/E ratio of 39.37, a PEG ratio of 1.76 and a beta of 0.83. RTX Co. has a 52-week low of $68.56 and a 52-week high of $108.65. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. During the same quarter last year, the firm earned $1.22 earnings per share. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities analysts expect that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio is presently 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.