Thomasville National Bank Raises Stock Position in RTX Co. (NYSE:RTX)

Thomasville National Bank increased its holdings in shares of RTX Co. (NYSE:RTX) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,190 shares of the company’s stock after purchasing an additional 2,771 shares during the period. RTX makes up 2.0% of Thomasville National Bank’s holdings, making the stock its 14th biggest position. Thomasville National Bank’s holdings in RTX were worth $27,974,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 10Elms LLP purchased a new position in RTX in the fourth quarter valued at $29,000. Fairway Wealth LLC purchased a new position in RTX in the fourth quarter valued at $31,000. Picton Mahoney Asset Management increased its holdings in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares in the last quarter. Greenline Partners LLC purchased a new position in RTX in the fourth quarter valued at $34,000. Finally, Millstone Evans Group LLC purchased a new position in RTX in the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

NYSE:RTX opened at $140.92 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The firm has a market capitalization of $188.26 billion, a price-to-earnings ratio of 39.70, a PEG ratio of 2.11 and a beta of 0.63. The company’s 50-day moving average is $130.91 and its two-hundred day moving average is $126.33. RTX Co. has a 1-year low of $99.07 and a 1-year high of $149.94.

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

RTX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.93%. This is a positive change from RTX’s previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. RTX’s payout ratio is presently 79.77%.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the transaction, the executive vice president now directly owns 16,538 shares in the company, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president now owns 9,546 shares in the company, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on RTX shares. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Wells Fargo & Company boosted their target price on shares of RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. cut their target price on shares of RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Wall Street Zen raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. Finally, DZ Bank raised shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 target price for the company in a research note on Friday, April 25th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $159.82.

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.