RTX Corporation (NYSE:RTX) Shares Purchased by First Bancorp Inc ME

First Bancorp Inc ME raised its stake in RTX Corporation (NYSE:RTX) by 4.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,532 shares of the company’s stock after acquiring an additional 306 shares during the quarter. First Bancorp Inc ME’s holdings in RTX were worth $865,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. 10Elms LLP purchased a new position in RTX in the 4th quarter valued at about $29,000. Fairway Wealth LLC acquired a new position in shares of RTX in the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management lifted its stake in shares of RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares during the period. Greenline Partners LLC acquired a new stake in RTX during the fourth quarter worth approximately $34,000. Finally, Millstone Evans Group LLC purchased a new stake in RTX in the 4th quarter worth approximately $39,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction that occurred 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 sale, the executive vice president now owns 16,538 shares in the company, valued at $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the company’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 completion of the transaction, the vice president now owns 9,546 shares of the company’s stock, valued at $1,217,496.84. This trade 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 currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Morgan Stanley upgraded RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 target price for the company in a research note on Wednesday, April 23rd. Royal Bank Of Canada decreased their price target on RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price target on RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Finally, Susquehanna cut their price objective on shares of RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $159.82.

RTX Price Performance

RTX opened at $146.75 on Monday. RTX Corporation has a 52-week low of $99.07 and a 52-week high of $149.66. The company has a 50 day moving average of $133.43 and a two-hundred day moving average of $127.54. The company has a market cap of $196.05 billion, a P/E ratio of 43.04, a P/E/G ratio of 2.65 and a beta of 0.63. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The firm had revenue of $20.31 billion during the quarter, compared to analysts’ expectations of $19.80 billion. On average, analysts expect that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were issued a dividend of $0.68 per share. This is an increase from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Friday, May 23rd. RTX’s dividend payout ratio (DPR) is presently 79.77%.

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.