RTX Co. (NYSE:RTX) Shares Sold by Somerset Trust Co

Somerset Trust Co cut its position in RTX Co. (NYSE:RTX) by 0.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,730 shares of the company’s stock after selling 134 shares during the quarter. RTX accounts for 1.6% of Somerset Trust Co’s holdings, making the stock its 22nd largest holding. Somerset Trust Co’s holdings in RTX were worth $4,208,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. First Financial Bankshares Inc acquired a new position in shares of RTX in the fourth quarter worth $354,000. RMB Capital Management LLC grew its stake in RTX by 1.7% during the 4th quarter. RMB Capital Management LLC now owns 93,923 shares of the company’s stock worth $7,903,000 after purchasing an additional 1,607 shares in the last quarter. Creative Planning increased its holdings in RTX by 9.9% during the 4th quarter. Creative Planning now owns 434,968 shares of the company’s stock worth $36,598,000 after purchasing an additional 39,315 shares during the period. True Wealth Design LLC raised its position in RTX by 758.9% in the 4th quarter. True Wealth Design LLC now owns 481 shares of the company’s stock valued at $40,000 after purchasing an additional 425 shares in the last quarter. Finally, LM Advisors LLC purchased a new position in shares of RTX in the 4th quarter valued at about $257,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other RTX news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock valued at $20,861,880 over the last quarter. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on RTX. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research report on Tuesday, July 30th. Wells Fargo & Company decreased their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and boosted their target price for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. raised their price target on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $161.13.

RTX Trading Up 0.3 %

RTX opened at $123.92 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. RTX Co. has a 52 week low of $72.29 and a 52 week high of $125.93. The business’s 50 day moving average is $119.58 and its two-hundred day moving average is $109.11. The firm has a market cap of $164.75 billion, a price-to-earnings ratio of 48.60, a price-to-earnings-growth ratio of 2.20 and a beta of 0.82.

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

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.03%. RTX’s dividend payout ratio (DPR) is 98.82%.

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.