Wesbanco Bank Inc. Decreases Stock Holdings in RTX Co. (NYSE:RTX)

Wesbanco Bank Inc. reduced its stake in shares of RTX Co. (NYSE:RTXFree Report) by 43.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,432 shares of the company’s stock after selling 82,860 shares during the quarter. Wesbanco Bank Inc.’s holdings in RTX were worth $8,955,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Capital Research Global Investors boosted its position in shares of RTX by 23.7% during the fourth quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after buying an additional 17,351,313 shares during the period. Capital International Investors grew its holdings in shares of RTX by 20.6% in the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock worth $5,488,752,000 after purchasing an additional 11,163,222 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in RTX by 82.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after buying an additional 6,932,011 shares during the period. Northern Trust Corp raised its stake in shares of RTX by 1.9% during the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock valued at $987,871,000 after acquiring an additional 256,215 shares in the last quarter. Finally, Sanders Capital LLC grew its stake in RTX by 6.8% in the fourth quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock worth $898,147,000 after purchasing an additional 677,520 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RTX. UBS Group upped their target price on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Wells Fargo & Company increased their price objective 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. Barclays boosted their price objective on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Citigroup lifted their price target on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, Susquehanna raised their price objective on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday, April 24th. 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 company’s stock. According to MarketBeat, RTX currently has a consensus rating of “Hold” and a consensus price target of $98.33.

Check Out Our Latest Stock Analysis on RTX

RTX Price Performance

RTX stock traded down $0.80 during mid-day trading on Friday, reaching $104.23. 4,917,109 shares of the company’s stock were exchanged, compared to its average volume of 7,492,551. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. RTX Co. has a 12-month low of $68.56 and a 12-month high of $108.65. The company has a market cap of $138.57 billion, a price-to-earnings ratio of 40.86, a price-to-earnings-growth ratio of 1.87 and a beta of 0.83. The stock’s 50 day moving average is $103.95 and its 200 day moving average is $93.82.

RTX (NYSE:RTXGet Free Report) last posted its quarterly 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 net margin of 4.90% and a return on equity of 10.81%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the firm posted $1.22 earnings per share. On average, research analysts expect that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s dividend payout ratio is currently 98.82%.

Insider Activity

In other RTX news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 149,050 shares in the company, valued at approximately $15,757,566. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Stephen J. Timm sold 19,880 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at $15,757,566. The sale was disclosed in a filing with the SEC, 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 directly owns 636,759 shares in the company, valued at approximately $64,592,832.96. 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. 0.13% of the stock is currently owned by company insiders.

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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