First Citizens Bank & Trust Co. Has $670,000 Stock Position in RTX Co. (NYSE:RTX)

First Citizens Bank & Trust Co. trimmed its position in RTX Co. (NYSE:RTXFree Report) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,964 shares of the company’s stock after selling 267 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in RTX were worth $670,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 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. Waverly Advisors LLC increased its position in RTX by 2.2% in the first quarter. Waverly Advisors LLC now owns 5,686 shares of the company’s stock worth $557,000 after purchasing an additional 122 shares during the period. 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. Ironwood Wealth Management LLC. boosted its holdings in RTX by 1.2% during the first quarter. Ironwood Wealth Management LLC. now owns 10,761 shares of the company’s stock worth $1,066,000 after buying an additional 128 shares during the last quarter. Finally, Dempze Nancy E boosted its holdings in RTX by 0.5% during the third quarter. Dempze Nancy E now owns 28,829 shares of the company’s stock worth $2,075,000 after buying an additional 130 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Up 0.8 %

Shares of RTX stock opened at $98.55 on Wednesday. The business’s 50 day simple moving average is $92.08 and its 200 day simple moving average is $84.09. RTX Co. has a 52-week low of $68.56 and a 52-week high of $104.91. The firm has a market cap of $131.04 billion, a PE ratio of 44.00, a P/E/G ratio of 1.78 and a beta of 0.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.04.

RTX (NYSE:RTXGet Free Report) last announced its earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. RTX had a return on equity of 10.34% and a net margin of 4.64%. The business had revenue of $19.93 billion for the quarter, compared to analyst estimates of $19.74 billion. During the same quarter last year, the firm earned $1.27 EPS. RTX’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, analysts predict that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is 105.36%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RTX. Bank of America upgraded RTX from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $78.00 to $100.00 in a report on Thursday, January 25th. TheStreet upgraded RTX from a “c” rating to a “b-” rating in a report on Tuesday, January 23rd. Wells Fargo & Company restated an “overweight” rating and set a $120.00 target price on shares of RTX in a report on Monday. Robert W. Baird restated a “neutral” rating and set a $94.00 target price (up previously from $88.00) on shares of RTX in a report on Tuesday, January 16th. Finally, TD Cowen raised their target price on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $95.12.

View Our Latest Research Report on RTX

Insiders Place Their Bets

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the transaction, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ramsaran Maharajh sold 312 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the transaction, the executive vice president now directly owns 11,676 shares in the company, valued at $1,076,176.92. The disclosure for this sale can be found here. Insiders have sold 37,785 shares of company stock valued at $3,448,188 in the last 90 days. 0.13% of the stock is currently owned by insiders.

RTX Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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