Somerset Trust Co Acquires 890 Shares of RTX Co. (NYSE:RTX)

Somerset Trust Co grew its holdings in shares of RTX Co. (NYSE:RTXFree Report) by 2.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,430 shares of the company’s stock after buying an additional 890 shares during the quarter. RTX makes up 1.4% of Somerset Trust Co’s portfolio, making the stock its 29th largest position. Somerset Trust Co’s holdings in RTX were worth $3,358,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RTX. Bear Mountain Capital Inc. bought a new stake in RTX during the 4th quarter worth about $25,000. Planned Solutions Inc. acquired a new position in shares of RTX during the 4th quarter worth about $30,000. Financial Gravity Asset Management Inc. increased its stake in shares of RTX by 352.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares during the last quarter. Valley National Advisers Inc. increased its stake in shares of RTX by 37.4% during the 3rd 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 last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of RTX during the 4th quarter worth about $38,000. 86.50% of the stock is owned by institutional investors.

Insider Activity at RTX

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

RTX Stock Performance

Shares of NYSE:RTX traded up $0.30 on Wednesday, reaching $104.77. 3,991,507 shares of the company’s stock were exchanged, compared to its average volume of 4,894,300. The company has a fifty day moving average of $104.12 and a 200-day moving average of $94.50. RTX Co. has a twelve month low of $68.56 and a twelve month high of $108.65. The company has a market capitalization of $139.29 billion, a price-to-earnings ratio of 41.09, a PEG ratio of 1.83 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTXGet Free Report) last announced 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. The firm had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.22 EPS. On average, research analysts predict that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.41%. RTX’s dividend payout ratio (DPR) is 98.82%.

Analyst Ratings Changes

Several research firms have recently weighed in on RTX. Robert W. Baird boosted their price objective on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Bank of America boosted their price objective on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Barclays upped their price target on shares of RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 30th. Citigroup upped their price target on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, Wells Fargo & Company upped their price target on shares of RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. 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 company presently has an average rating of “Hold” and a consensus price target of $98.33.

Get Our Latest Report on RTX

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.

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Institutional Ownership by Quarter for RTX (NYSE:RTX)

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