NBC Securities Inc. Reduces Position in RTX Co. (NYSE:RTX)

NBC Securities Inc. trimmed its holdings in RTX Co. (NYSE:RTXFree Report) by 10.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,854 shares of the company’s stock after selling 1,416 shares during the quarter. NBC Securities Inc.’s holdings in RTX were worth $1,156,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PAX Financial Group LLC lifted its stake in RTX by 11.8% in the third quarter. PAX Financial Group LLC now owns 5,568 shares of the company’s stock worth $401,000 after acquiring an additional 589 shares during the period. V Square Quantitative Management LLC purchased a new stake in RTX in the third quarter worth about $169,000. Provence Wealth Management Group lifted its stake in RTX by 7.5% in the third quarter. Provence Wealth Management Group now owns 3,776 shares of the company’s stock worth $272,000 after acquiring an additional 263 shares during the period. Azimuth Capital Investment Management LLC lifted its stake in RTX by 1.2% in the third quarter. Azimuth Capital Investment Management LLC now owns 71,372 shares of the company’s stock worth $5,137,000 after acquiring an additional 826 shares during the period. Finally, Regal Investment Advisors LLC lifted its stake in RTX by 3.6% in the third quarter. Regal Investment Advisors LLC now owns 7,189 shares of the company’s stock worth $517,000 after acquiring an additional 252 shares during the period. 86.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RTX shares. Susquehanna upped their price objective on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research note on Wednesday, April 24th. Bank of America increased their price target on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. TD Cowen increased their price target on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Robert W. Baird increased their price target on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Barclays increased their price target on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. Two 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $98.33.

Read Our Latest Research Report on RTX

RTX Trading Up 0.3 %

Shares of RTX traded up $0.30 during midday trading on Wednesday, reaching $104.77. The company had a trading volume of 3,991,507 shares, compared to its average volume of 4,894,300. RTX Co. has a 1-year low of $68.56 and a 1-year high of $108.65. The stock has a market cap of $139.29 billion, a PE ratio of 41.09, a price-to-earnings-growth ratio of 1.83 and a beta of 0.83. The firm has a 50 day simple moving average of $104.12 and a 200-day simple moving average of $94.50. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTXGet Free Report) last issued its earnings results 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 business had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. During the same period last year, the company earned $1.22 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. Research analysts forecast that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders 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 dividend yield of 2.41%. The ex-dividend date is Friday, August 16th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Insiders Place Their Bets

In related news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was 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 approximately $64,592,832.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Gregory Hayes sold 89,762 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was 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 approximately $64,592,832.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 149,050 shares of the company’s stock, valued at $15,757,566. The disclosure for this sale can be found here. Insiders sold 119,937 shares of company stock valued at $12,256,952 in the last three months. 0.13% of the stock is currently owned by insiders.

RTX 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.

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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