First City Capital Management Inc. Decreases Stake in RTX Co. (NYSE:RTX)

First City Capital Management Inc. reduced its stake in shares of RTX Co. (NYSE:RTX) by 12.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,246 shares of the company’s stock after selling 2,547 shares during the period. RTX makes up about 1.4% of First City Capital Management Inc.’s holdings, making the stock its 17th largest position. First City Capital Management Inc.’s holdings in RTX were worth $2,284,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in RTX. Piscataqua Savings Bank boosted its position in shares of RTX by 0.7% in the 1st quarter. Piscataqua Savings Bank now owns 13,583 shares of the company’s stock worth $1,799,000 after buying an additional 100 shares in the last quarter. Gateway Investment Advisers LLC boosted its position in shares of RTX by 0.7% in the 1st quarter. Gateway Investment Advisers LLC now owns 554,196 shares of the company’s stock worth $73,409,000 after buying an additional 3,841 shares in the last quarter. Radnor Capital Management LLC lifted its holdings in shares of RTX by 3.8% in the first quarter. Radnor Capital Management LLC now owns 20,585 shares of the company’s stock valued at $2,727,000 after purchasing an additional 758 shares in the last quarter. Impact Capital Partners LLC lifted its holdings in shares of RTX by 12.1% in the first quarter. Impact Capital Partners LLC now owns 3,225 shares of the company’s stock valued at $427,000 after purchasing an additional 348 shares in the last quarter. Finally, Tower Wealth Partners Inc. lifted its stake in RTX by 31.9% in the 1st quarter. Tower Wealth Partners Inc. now owns 2,338 shares of the company’s stock valued at $310,000 after buying an additional 566 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling

In related news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the business’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 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 disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

RTX Trading Up 0.1%

NYSE:RTX opened at $139.21 on Friday. The firm has a market capitalization of $185.98 billion, a PE ratio of 39.21, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 12 month low of $99.07 and a 12 month high of $140.65. The business’s 50-day moving average is $129.63 and its two-hundred day moving average is $125.75.

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

RTX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.68 per share. The ex-dividend date is Friday, May 23rd. This is an increase from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 1.95%. RTX’s payout ratio is currently 79.77%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RTX. Cowen restated a “buy” rating on shares of RTX in a research report on Friday, May 23rd. Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. UBS Group increased their price target on RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Finally, Susquehanna reduced their target price on RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a research report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $159.82.

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.