FARMERS & MERCHANTS TRUST Co OF LONG BEACH Trims Stock Position in RTX Co. (NYSE:RTX)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH cut its stake in shares of RTX Co. (NYSE:RTX) by 11.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,214 shares of the company’s stock after selling 1,336 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in RTX were worth $996,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. RFG Advisory LLC boosted its stake in shares of RTX by 96.1% during the first quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after purchasing an additional 19,779 shares in the last quarter. TCW Group Inc. bought a new position in shares of RTX during the fourth quarter valued at approximately $1,912,000. Robinson Smith Wealth Advisors LLC bought a new position in shares of RTX during the fourth quarter valued at approximately $672,000. Mather Group LLC. boosted its stake in shares of RTX by 8.5% during the fourth quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock valued at $1,153,000 after purchasing an additional 1,079 shares in the last quarter. Finally, Rockline Wealth Management LLC bought a new position in shares of RTX during the fourth quarter valued at approximately $2,438,000. 86.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RTX. TD Cowen increased their price objective on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. Barclays raised their target price 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. Susquehanna raised their target price on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday, April 24th. Finally, Bank of America raised their target price on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $98.33.

Insider Buying and Selling at RTX

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 transaction, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the sale, the director now owns 129,120 shares in the company, valued at $13,166,366.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the sale, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,937 shares of company stock valued at $12,256,952. Corporate insiders own 0.13% of the company’s stock.

RTX Stock Performance

Shares of RTX stock traded up $0.29 during trading on Tuesday, hitting $99.84. 1,173,258 shares of the company’s stock were exchanged, compared to its average volume of 7,518,325. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The business has a 50-day simple moving average of $104.38 and a 200-day simple moving average of $95.78. RTX Co. has a 52-week low of $68.56 and a 52-week high of $108.65. The stock has a market capitalization of $132.74 billion, a price-to-earnings ratio of 39.04, a PEG ratio of 1.76 and a beta of 0.82.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $18.44 billion. During the same quarter last year, the company posted $1.22 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. On average, research analysts forecast that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

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