Security National Bank Cuts Holdings in RTX Co. (NYSE:RTX)

Security National Bank reduced its stake in RTX Co. (NYSE:RTX) by 82.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,608 shares of the company’s stock after selling 7,631 shares during the quarter. Security National Bank’s holdings in RTX were worth $157,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Capital Research Global Investors grew its position in RTX by 23.7% in the fourth quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock worth $7,608,822,000 after acquiring an additional 17,351,313 shares in the last quarter. Capital International Investors grew its position in RTX by 20.6% in the fourth quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock worth $5,488,752,000 after acquiring an additional 11,163,222 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in RTX by 82.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock worth $1,288,157,000 after acquiring an additional 6,932,011 shares in the last quarter. Sanders Capital LLC grew its position in RTX by 6.8% in the fourth quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock worth $898,147,000 after acquiring an additional 677,520 shares in the last quarter. Finally, Norges Bank bought a new stake in RTX in the fourth quarter worth about $690,154,000. 86.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RTX has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on shares of RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Bank of America lifted their price target on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Robert W. Baird lifted their price target on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. UBS Group lifted their price target on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, TD Cowen lifted their price target on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $98.33.

Insiders Place Their Bets

In other RTX news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at $64,592,832.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the sale, the director now owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at approximately $64,592,832.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,937 shares of company stock worth $12,256,952. 0.13% of the stock is owned by company insiders.

RTX Stock Performance

Shares of RTX stock traded down $0.42 on Wednesday, reaching $101.15. 3,805,331 shares of the stock were exchanged, compared to its average volume of 7,522,159. RTX Co. has a 1-year low of $68.56 and a 1-year high of $108.65. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. The business has a fifty day moving average price of $104.43 and a two-hundred day moving average price of $95.26. The firm has a market capitalization of $134.48 billion, a PE ratio of 39.55, a PEG ratio of 1.78 and a beta of 0.83.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business had revenue of $19.30 billion for the quarter, compared to analyst estimates of $18.44 billion. During the same period in the previous year, the business posted $1.22 earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year. As a group, research analysts anticipate that RTX Co. will post 5.39 earnings per share for the current fiscal year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a yield of 2.49%. RTX’s payout ratio is currently 98.82%.

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.