Lincoln National Corp Cuts Stock Position in RTX Co. (NYSE:RTX)

Lincoln National Corp trimmed its position in RTX Co. (NYSE:RTX) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,078 shares of the company’s stock after selling 2,875 shares during the period. Lincoln National Corp’s holdings in RTX were worth $3,540,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RTX. Bear Mountain Capital Inc. acquired a new position in RTX during the fourth quarter worth $25,000. Strengthening Families & Communities LLC purchased a new position in shares of RTX in the 3rd quarter valued at about $28,000. Planned Solutions Inc. acquired a new stake in shares of RTX in the fourth quarter valued at about $30,000. Financial Gravity Asset Management Inc. boosted its holdings in RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after buying an additional 345 shares in the last quarter. Finally, Valley National Advisers Inc. grew its position in RTX by 37.4% during the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after buying an additional 127 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on RTX shares. Barclays boosted their price target on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Bank of America upped their target price on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. TheStreet raised RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Wells Fargo & Company reissued an “overweight” rating and issued a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. Finally, Susquehanna lifted their target price on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $96.93.

Insiders Place Their Bets

In other news, Director Robert Kelly Ortberg sold 10,295 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the sale, the director now directly owns 129,120 shares in the company, valued at approximately $13,166,366.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the sale, the director now owns 129,120 shares in the company, valued at approximately $13,166,366.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the sale, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The disclosure for this sale can be found here. Insiders have sold a total of 137,842 shares of company stock valued at $13,603,426 over the last quarter. Company insiders own 0.13% of the company’s stock.

RTX Trading Up 1.3 %

RTX traded up $1.31 during trading on Tuesday, hitting $103.22. The company’s stock had a trading volume of 6,933,019 shares, compared to its average volume of 8,097,605. RTX Co. has a twelve month low of $68.56 and a twelve month high of $103.89. The firm’s 50 day moving average price is $96.94 and its 200-day moving average price is $88.89. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. The stock has a market cap of $137.23 billion, a PE ratio of 39.89, a PEG ratio of 1.83 and a beta of 0.84.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.11. The firm had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.22 earnings per share. On average, analysts expect that RTX Co. will post 5.4 earnings per share for the current year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be given a dividend of $0.63 per share. This is a positive change from RTX’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, May 16th. This represents a $2.52 annualized dividend and a yield of 2.44%. RTX’s dividend payout ratio is 92.55%.

About RTX

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.