Grove Bank & Trust Increases Position in RTX Co. (NYSE:RTX)

Grove Bank & Trust raised its position in RTX Co. (NYSE:RTX) by 17.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,687 shares of the company’s stock after purchasing an additional 1,564 shares during the quarter. Grove Bank & Trust’s holdings in RTX were worth $1,416,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Norges Bank purchased a new position in RTX in the fourth quarter valued at $1,745,644,000. GAMMA Investing LLC boosted its holdings in RTX by 14,838.5% in the first quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company’s stock valued at $551,460,000 after purchasing an additional 4,135,349 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in RTX by 43.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock valued at $1,216,063,000 after purchasing an additional 3,164,844 shares during the period. Amundi boosted its holdings in RTX by 83.1% in the fourth quarter. Amundi now owns 6,288,559 shares of the company’s stock valued at $728,964,000 after purchasing an additional 2,854,928 shares during the period. Finally, Capital Wealth Planning LLC purchased a new position in RTX in the fourth quarter valued at $216,340,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

NYSE RTX opened at $146.43 on Tuesday. RTX Co. has a 1 year low of $99.07 and a 1 year high of $149.04. The company has a market capitalization of $195.62 billion, a PE ratio of 41.25, a P/E/G ratio of 2.11 and a beta of 0.63. The company has a fifty day moving average of $131.94 and a two-hundred day moving average of $126.76. 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 (NYSE:RTX) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share 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 business had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. As a group, analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were paid a dividend of $0.68 per share. This is an increase from RTX’s previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. This represents a $2.72 annualized dividend and a dividend yield of 1.86%. RTX’s dividend payout ratio is 79.77%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on RTX shares. JPMorgan Chase & Co. decreased their target price on RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Robert W. Baird raised RTX from a “neutral” rating to an “outperform” rating and increased their target price for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. DZ Bank raised RTX from a “sell” rating to a “hold” rating and set a $129.00 target price on the stock in a report on Friday, April 25th. Wall Street Zen raised RTX from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. Finally, Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $159.82.

Insider Transactions at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the firm’s stock in a transaction dated 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 $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm’s stock in a transaction dated 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 owns 16,538 shares of the company’s stock, valued at approximately $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 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.