Mechanics Bank Trust Department Sells 3,285 Shares of RTX Corporation $RTX

Mechanics Bank Trust Department decreased its holdings in shares of RTX Corporation (NYSE:RTX) by 29.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,018 shares of the company’s stock after selling 3,285 shares during the period. Mechanics Bank Trust Department’s holdings in RTX were worth $1,171,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. MorganRosel Wealth Management LLC acquired a new position in shares of RTX during the 1st quarter worth about $26,000. Summit Securities Group LLC acquired a new position in shares of RTX during the 1st quarter worth approximately $40,000. McClarren Financial Advisors Inc. bought a new position in RTX during the 1st quarter worth $44,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in RTX during the first quarter worth about $50,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in RTX during the first quarter valued at approximately $50,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Performance

RTX stock opened at $158.22 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The company has a market capitalization of $211.78 billion, a PE ratio of 34.77, a P/E/G ratio of 2.92 and a beta of 0.67. The company has a 50 day moving average price of $155.86 and a 200-day moving average price of $141.71. RTX Corporation has a fifty-two week low of $112.27 and a fifty-two week high of $161.26.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%.The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same quarter last year, the firm posted $1.41 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. As a group, equities analysts forecast that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, August 15th. RTX’s payout ratio is 59.78%.

Insider Buying and Selling

In other news, EVP Ramsaran Maharajh sold 1,462 shares of the company’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total transaction of $222,604.12. Following the transaction, the executive vice president owned 13,184 shares in the company, valued at $2,007,395.84. This represents a 9.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Kevin G. Dasilva sold 8,704 shares of RTX stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $156.20, for a total transaction of $1,359,564.80. Following the completion of the sale, the vice president owned 30,004 shares of the company’s stock, valued at $4,686,624.80. This trade represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,635 shares of company stock valued at $8,947,010 over the last quarter. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RTX shares. The Goldman Sachs Group lifted their price target on shares of RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a report on Monday, June 23rd. Wall Street Zen cut RTX from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Bank of America increased their target price on RTX from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Barclays raised their price target on shares of RTX from $130.00 to $153.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 29th. Finally, UBS Group upped their price target on RTX from $166.00 to $177.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.87.

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.