First Citizens Bank & Trust Co. Sells 157 Shares of RTX Co. (NYSE:RTX)

First Citizens Bank & Trust Co. cut its position in RTX Co. (NYSE:RTX) by 0.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,286 shares of the company’s stock after selling 157 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in RTX were worth $2,422,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RTX. 10Elms LLP bought a new stake in shares of RTX during the 4th quarter valued at $29,000. Fairway Wealth LLC bought a new stake in shares of RTX during the 4th quarter valued at $31,000. Picton Mahoney Asset Management lifted its position in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after acquiring an additional 265 shares during the period. Greenline Partners LLC bought a new stake in shares of RTX during the 4th quarter valued at $34,000. Finally, Millstone Evans Group LLC bought a new stake in shares of RTX during the 4th quarter valued at $39,000. 86.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, the executive vice president now owns 16,538 shares in the company, valued at $2,275,959.56. This represents a 50.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the sale, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

RTX Price Performance

Shares of RTX opened at $140.94 on Tuesday. RTX Co. has a 12-month low of $99.07 and a 12-month high of $141.29. The business has a 50-day simple moving average of $129.78 and a two-hundred day simple moving average of $125.98. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market cap of $188.29 billion, a PE ratio of 39.70, a PEG ratio of 2.11 and a beta of 0.63.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The firm had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. Analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, May 23rd. This is a positive change from RTX’s previous quarterly dividend of $0.63. RTX’s payout ratio is 79.77%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RTX shares. JPMorgan Chase & Co. cut their target price on RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Benchmark raised RTX from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a report on Wednesday, May 14th. Wells Fargo & Company boosted their price target on RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday, April 15th. Susquehanna lowered their price target on RTX from $147.00 to $140.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. Finally, Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, RTX presently has a consensus rating of “Buy” and an average price target of $159.82.

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.