Community Bank N.A. Raises Holdings in RTX Co. (NYSE:RTX)

Community Bank N.A. lifted its stake in RTX Co. (NYSE:RTX) by 13.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,594 shares of the company’s stock after buying an additional 4,231 shares during the quarter. Community Bank N.A.’s holdings in RTX were worth $3,079,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. BIP Wealth LLC boosted its stake in shares of RTX by 5.7% in the fourth quarter. BIP Wealth LLC now owns 4,657 shares of the company’s stock worth $392,000 after buying an additional 250 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of RTX by 4.4% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 33,437 shares of the company’s stock worth $2,813,000 after buying an additional 1,402 shares during the last quarter. Atria Wealth Solutions Inc. boosted its position in RTX by 8.4% during the fourth quarter. Atria Wealth Solutions Inc. now owns 113,264 shares of the company’s stock worth $9,530,000 after purchasing an additional 8,816 shares in the last quarter. Carret Asset Management LLC boosted its position in RTX by 2.0% during the fourth quarter. Carret Asset Management LLC now owns 19,743 shares of the company’s stock worth $1,661,000 after purchasing an additional 386 shares in the last quarter. Finally, Wynn Capital LLC purchased a new position in RTX during the fourth quarter worth approximately $1,081,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the sale, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other RTX news, EVP Ramsaran Maharajh sold 312 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the completion of the sale, the executive vice president now owns 11,676 shares of the company’s stock, valued at $1,076,176.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the sale, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on RTX. Bank of America increased their price target on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday. Citigroup increased their price target on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wells Fargo & Company reiterated an “overweight” rating and set a $120.00 price target on shares of RTX in a research report on Monday, April 1st. Susquehanna increased their price target on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research report on Wednesday. Finally, TD Cowen increased their price target on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, RTX has an average rating of “Hold” and a consensus price target of $96.27.

RTX Price Performance

Shares of NYSE:RTX traded down $0.36 during midday trading on Wednesday, hitting $101.02. The company had a trading volume of 7,719,137 shares, compared to its average volume of 8,257,574. RTX Co. has a twelve month low of $68.56 and a twelve month high of $103.89. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78. The stock has a market cap of $134.32 billion, a price-to-earnings ratio of 45.10, a price-to-earnings-growth ratio of 1.85 and a beta of 0.88. The business’s 50-day simple moving average is $95.16 and its 200-day simple moving average is $87.21.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.23 by $0.11. RTX had a return on equity of 10.34% and a net margin of 4.64%. The firm had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. During the same quarter last year, the firm earned $1.22 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, research analysts predict that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were issued a $0.59 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.34%. RTX’s dividend payout ratio is presently 105.36%.

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.