Penobscot Investment Management Company Inc. Boosts Stock Holdings in RTX Corporation (NYSE:RTX)

Penobscot Investment Management Company Inc. boosted its position in shares of RTX Corporation (NYSE:RTX) by 2.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,147 shares of the company’s stock after buying an additional 890 shares during the period. Penobscot Investment Management Company Inc.’s holdings in RTX were worth $6,113,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of RTX. Norges Bank purchased a new stake in shares of RTX in the fourth quarter valued at approximately $1,745,644,000. GAMMA Investing LLC grew its position in shares of 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 in the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of 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 in the last quarter. Amundi grew its position in shares of 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 in the last quarter. Finally, Capital Wealth Planning LLC purchased a new stake in shares of RTX in the fourth quarter valued at approximately $216,340,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RTX. Wall Street Zen lowered RTX from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. Royal Bank Of Canada decreased their price objective on RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company upped their price objective on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a report on Tuesday, April 15th. Cowen reiterated a “buy” rating on shares of RTX in a report on Friday, May 23rd. Finally, DZ Bank upgraded RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective on the stock in a report on Friday, April 25th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.12.

RTX Stock Down 0.4%

NYSE:RTX opened at $141.29 on Thursday. The stock has a market capitalization of $188.76 billion, a price-to-earnings ratio of 41.43, a price-to-earnings-growth ratio of 2.56 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 Corporation has a 52 week low of $99.07 and a 52 week high of $149.26. The stock’s fifty day moving average is $134.28 and its two-hundred day moving average is $127.93.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. The business had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. Research analysts anticipate that RTX Corporation will post 6.11 EPS for the current year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were paid a $0.68 dividend. This is a boost from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, May 23rd. RTX’s dividend payout ratio (DPR) is presently 79.77%.

Insider Activity

In related news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the transaction, the executive vice president now owns 16,538 shares of the company’s stock, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the 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 transaction, the vice president now directly owns 9,546 shares in the company, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

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.