Penobscot Investment Management Company Inc. Boosts Stock Position in RTX Corporation (NYSE:RTX)

Penobscot Investment Management Company Inc. boosted its holdings in RTX Corporation (NYSE:RTX) by 2.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,147 shares of the company’s stock after buying an additional 890 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in RTX were worth $6,113,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. LaFleur & Godfrey LLC grew its holdings in shares of RTX by 0.5% during the fourth quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company’s stock worth $20,620,000 after purchasing an additional 900 shares during the last quarter. Brighton Jones LLC boosted its stake in shares of RTX by 24.3% during the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock worth $1,969,000 after buying an additional 3,332 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of RTX by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock worth $564,000 after buying an additional 159 shares during the period. Pine Valley Investments Ltd Liability Co boosted its stake in shares of RTX by 19.6% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 20,814 shares of the company’s stock worth $2,409,000 after buying an additional 3,412 shares during the period. Finally, FourThought Financial Partners LLC acquired a new stake in shares of RTX during the fourth quarter worth about $900,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Dantaya M. Williams sold 16,922 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the sale, the executive vice president now directly owns 16,538 shares of the company’s stock, valued at $2,275,959.56. The trade was a 50.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Amy L. Johnson sold 4,146 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president now directly owns 9,546 shares of the company’s stock, valued at $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 owned by corporate insiders.

Analyst Ratings Changes

RTX has been the subject of several recent research reports. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $136.00 to $160.00 in a research note on Wednesday, March 19th. Benchmark upgraded shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Wednesday, May 14th. Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Morgan Stanley upgraded shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price objective for the company in a research report on Wednesday, April 23rd. Finally, Susquehanna reduced their price objective on shares of RTX from $147.00 to $140.00 and set a “positive” rating for the company in a research report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $161.12.

RTX Trading Down 0.4%

Shares of RTX opened at $141.29 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The firm has a 50 day simple moving average of $134.28 and a 200-day simple moving average of $127.93. RTX Corporation has a 1-year low of $99.07 and a 1-year high of $149.26. The stock has a market cap of $188.76 billion, a price-to-earnings ratio of 41.43, a price-to-earnings-growth ratio of 2.56 and a beta of 0.63.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.35 by $0.12. The firm had revenue of $20.31 billion during the quarter, compared to analysts’ expectations of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. Equities analysts forecast that RTX Corporation will post 6.11 EPS for the current fiscal 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 paid a $0.68 dividend. This is a boost from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 1.93%. The ex-dividend date was Friday, May 23rd. RTX’s payout ratio is presently 79.77%.

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.