Field & Main Bank Raises Stake in RTX Corporation (NYSE:RTX)

Field & Main Bank raised its holdings in shares of RTX Corporation (NYSE:RTX) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,895 shares of the company’s stock after acquiring an additional 175 shares during the period. Field & Main Bank’s holdings in RTX were worth $2,503,000 at the end of the most recent quarter.

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

RTX Stock Performance

NYSE:RTX opened at $141.85 on Wednesday. The firm has a 50-day moving average of $134.03 and a two-hundred day moving average of $127.84. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The stock has a market cap of $189.51 billion, a P/E ratio of 41.60, a PEG ratio of 2.64 and a beta of 0.63. RTX Corporation has a 1-year low of $99.07 and a 1-year high of $149.26.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) 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 business had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. On average, research analysts expect that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were issued a $0.68 dividend. This is a positive change from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Friday, May 23rd. RTX’s payout ratio is currently 79.77%.

Analysts Set New Price Targets

RTX has been the subject of several research reports. Wells Fargo & Company boosted their price target on shares of RTX from $136.00 to $144.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price objective on shares of RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and raised their price target for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. UBS Group upped their price target on RTX from $133.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Finally, Royal Bank Of Canada lowered their target price on shares of RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $161.12.

Insider Buying and Selling at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction on Tuesday, May 6th. The stock was 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 owns 9,546 shares in the company, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the company’s 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 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. This trade represents a 50.57% decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.

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.