Ledyard National Bank Raises Holdings in RTX Co. (NYSE:RTX)

Ledyard National Bank raised its position in RTX Co. (NYSE:RTX) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,197 shares of the company’s stock after buying an additional 278 shares during the quarter. Ledyard National Bank’s holdings in RTX were worth $1,962,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Global Assets Advisory LLC purchased a new stake in RTX during the 1st quarter valued at approximately $7,523,000. New England Professional Planning Group Inc. acquired a new stake in shares of RTX during the first quarter worth $205,000. DLK Investment Management LLC grew its position in RTX by 5.1% in the 1st quarter. DLK Investment Management LLC now owns 59,923 shares of the company’s stock valued at $5,844,000 after buying an additional 2,900 shares during the last quarter. Hoxton Planning & Management LLC acquired a new position in RTX in the 1st quarter valued at $233,000. Finally, Parkside Investments LLC purchased a new position in RTX during the 1st quarter worth $975,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Down 0.0 %

Shares of NYSE RTX opened at $125.90 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $167.38 billion, a PE ratio of 49.37, a P/E/G ratio of 2.24 and a beta of 0.82. The firm has a fifty day moving average of $120.91 and a 200-day moving average of $110.55. RTX Co. has a 52-week low of $72.52 and a 52-week high of $127.00.

RTX (NYSE:RTX) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company had revenue of $19.72 billion for the quarter, compared to the consensus estimate of $19.29 billion. During the same period last year, the business posted $1.29 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, analysts anticipate that RTX Co. will post 5.45 EPS for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Wall Street Analysts Forecast Growth

RTX has been the subject of several analyst reports. Wells Fargo & Company cut their price target on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price target on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Robert W. Baird increased their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Royal Bank of Canada boosted their target price on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Finally, TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, RTX currently has a consensus rating of “Hold” and an average price target of $162.50.

Insiders Place Their Bets

In related news, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $114.00, for a total transaction of $482,790.00. Following the sale, the chief executive officer now directly owns 88,509 shares in the company, valued at approximately $10,090,026. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares in the company, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $114.00, for a total value of $482,790.00. Following the sale, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock worth $20,861,880 over the last quarter. 0.13% of the stock is owned by corporate insiders.

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.