First PREMIER Bank Sells 177 Shares of RTX Co. (NYSE:RTX)

First PREMIER Bank reduced its stake in shares of RTX Co. (NYSE:RTX) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,049 shares of the company’s stock after selling 177 shares during the quarter. First PREMIER Bank’s holdings in RTX were worth $3,418,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC boosted its holdings in shares of RTX by 12,753.8% during the fourth quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company’s stock worth $117,799,000 after purchasing an additional 1,389,143 shares during the period. Tennessee Valley Asset Management Partners purchased a new stake in shares of RTX during the fourth quarter worth about $38,000. NewEdge Wealth LLC boosted its holdings in shares of RTX by 19.4% during the fourth quarter. NewEdge Wealth LLC now owns 29,777 shares of the company’s stock worth $2,505,000 after purchasing an additional 4,828 shares during the period. Bear Mountain Capital Inc. purchased a new stake in shares of RTX during the fourth quarter worth about $25,000. Finally, Cullen Investment Group LTD. purchased a new stake in shares of RTX during the fourth quarter worth about $843,000. 86.50% of the stock is owned by institutional investors.

RTX Stock Performance

NYSE:RTX traded up $0.70 during trading hours on Thursday, reaching $118.35. The company had a trading volume of 5,629,508 shares, compared to its average volume of 7,319,326. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. RTX Co. has a 52 week low of $68.56 and a 52 week high of $118.99. The firm has a market cap of $157.43 billion, a price-to-earnings ratio of 46.41, a PEG ratio of 2.05 and a beta of 0.82. The firm’s 50 day moving average price is $107.19 and its 200-day moving average price is $101.06.

RTX (NYSE:RTX) last posted its earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The business had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 EPS. On average, analysts forecast that RTX Co. will post 5.44 EPS for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio is presently 98.82%.

Insider Transactions at RTX

In other news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction on Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the transaction, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The disclosure for this sale can be found here. Insiders have sold 178,333 shares of company stock worth $20,861,880 in the last 90 days. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on RTX. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Citigroup raised their price objective on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Barclays raised their price objective on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price for the company in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $153.47.

RTX 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.