Blue Trust Inc. Decreases Position in RTX Co. (NYSE:RTX)

Blue Trust Inc. lessened its holdings in RTX Co. (NYSE:RTX) by 23.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,530 shares of the company’s stock after selling 4,429 shares during the quarter. Blue Trust Inc.’s holdings in RTX were worth $1,417,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in RTX. Insight Inv LLC raised its stake in shares of RTX by 0.6% during the first quarter. Insight Inv LLC now owns 17,299 shares of the company’s stock valued at $1,687,000 after acquiring an additional 105 shares during the last quarter. Bruce G. Allen Investments LLC raised its stake in shares of RTX by 7.9% during the first quarter. Bruce G. Allen Investments LLC now owns 1,441 shares of the company’s stock valued at $141,000 after acquiring an additional 106 shares during the last quarter. Jacobsen Capital Management raised its stake in shares of RTX by 3.0% during the fourth quarter. Jacobsen Capital Management now owns 3,890 shares of the company’s stock valued at $327,000 after acquiring an additional 114 shares during the last quarter. TRUE Private Wealth Advisors raised its stake in shares of RTX by 1.2% during the first quarter. TRUE Private Wealth Advisors now owns 9,952 shares of the company’s stock valued at $971,000 after acquiring an additional 117 shares during the last quarter. Finally, Diligent Investors LLC raised its stake in shares of RTX by 1.4% during the fourth quarter. Diligent Investors LLC now owns 8,781 shares of the company’s stock valued at $739,000 after acquiring an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Down 0.4 %

RTX traded down $0.37 during midday trading on Friday, reaching $100.37. The company’s stock had a trading volume of 6,153,519 shares, compared to its average volume of 6,280,827. The firm has a market capitalization of $133.44 billion, a price-to-earnings ratio of 39.36, a PEG ratio of 1.77 and a beta of 0.82. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. RTX Co. has a 1 year low of $68.56 and a 1 year high of $108.65. The stock’s 50-day moving average is $104.31 and its 200-day moving average is $96.12.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating 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 firm had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. During the same quarter in the prior year, the company posted $1.22 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, research analysts expect that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s payout ratio is 98.82%.

Insider Activity

In other news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the sale, the insider now owns 149,050 shares in the company, valued at $15,757,566. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the transaction, the director now owns 129,120 shares in the company, valued at $13,166,366.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the transaction, the insider now owns 149,050 shares in the company, valued at approximately $15,757,566. The disclosure for this sale can be found here. Insiders have sold a total of 119,937 shares of company stock worth $12,256,952 over the last 90 days. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Citigroup upped their price objective on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. UBS Group upped their price objective 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. Robert W. Baird boosted their price target on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Bank of America boosted their price target on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $98.33.

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.