FineMark National Bank & Trust Lowers Holdings in RTX Co. (NYSE:RTX)

FineMark National Bank & Trust cut its stake in RTX Co. (NYSE:RTX) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 169,698 shares of the company’s stock after selling 2,345 shares during the period. FineMark National Bank & Trust’s holdings in RTX were worth $19,638,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of RTX. Amundi boosted its holdings in shares of RTX by 83.1% in the 4th 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 during the last quarter. Assenagon Asset Management S.A. boosted its holdings in RTX by 545.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after acquiring an additional 2,094,834 shares during the last quarter. Capital Wealth Planning LLC purchased a new stake in RTX during the fourth quarter valued at about $216,340,000. Vanguard Group Inc. increased its stake in RTX by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company’s stock worth $13,710,408,000 after acquiring an additional 1,252,448 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in shares of RTX by 19,052.5% in the 4th quarter. Proficio Capital Partners LLC now owns 1,043,239 shares of the company’s stock worth $120,724,000 after purchasing an additional 1,037,792 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RTX has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating in a report on Monday. StockNews.com downgraded RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Finally, Royal Bank of Canada boosted their price objective on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $166.40.

RTX Stock Up 1.8 %

Shares of NYSE:RTX opened at $134.76 on Tuesday. The firm has a market cap of $179.92 billion, a PE ratio of 37.96, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The company has a fifty day simple moving average of $127.48 and a 200 day simple moving average of $122.66. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a 12-month low of $95.27 and a 12-month high of $135.74.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, equities research analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date was Friday, February 21st. RTX’s payout ratio is 70.99%.

Insider Buying and Selling

In other RTX news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the sale, the chief financial officer now directly owns 59,556 shares in the company, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the transaction, the chief executive officer now owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock valued at $10,309,302 in the last three months. 0.15% of the stock is currently owned by corporate 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.