RTX Co. (NYSE:RTX) Shares Sold by Clearstead Trust LLC

Clearstead Trust LLC lessened its stake in RTX Co. (NYSE:RTX) by 14.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,513 shares of the company’s stock after selling 593 shares during the quarter. Clearstead Trust LLC’s holdings in RTX were worth $296,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Cutler Investment Counsel LLC raised its holdings in RTX by 0.6% in the 3rd quarter. Cutler Investment Counsel LLC now owns 70,694 shares of the company’s stock worth $5,088,000 after purchasing an additional 445 shares during the period. Concord Wealth Partners raised its holdings in RTX by 25.8% in the 3rd quarter. Concord Wealth Partners now owns 3,829 shares of the company’s stock worth $276,000 after purchasing an additional 785 shares during the period. Lindbrook Capital LLC raised its holdings in RTX by 1.7% in the 3rd quarter. Lindbrook Capital LLC now owns 14,994 shares of the company’s stock worth $1,079,000 after purchasing an additional 255 shares during the period. Verdence Capital Advisors LLC raised its holdings in RTX by 10.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 24,514 shares of the company’s stock worth $1,764,000 after purchasing an additional 2,323 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in RTX by 4.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 314,282 shares of the company’s stock worth $22,619,000 after purchasing an additional 13,881 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Buying and Selling

In related news, COO Christopher T. Calio sold 367 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total transaction of $33,995.21. Following the completion of the sale, the chief operating officer now directly owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other RTX news, EVP Ramsaran Maharajh sold 312 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the completion of the sale, the executive vice president now owns 11,676 shares of the company’s stock, valued at $1,076,176.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Christopher T. Calio sold 367 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the sale, the chief operating officer now directly owns 56,707 shares of the company’s stock, valued at approximately $5,252,769.41. The disclosure for this sale can be found here. Insiders sold a total of 137,842 shares of company stock valued at $13,603,426 over the last three months. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RTX shares. Citigroup boosted their price objective on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Wells Fargo & Company reiterated an “overweight” rating and set a $120.00 price objective on shares of RTX in a research note on Monday, April 1st. UBS Group boosted their price objective on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. TheStreet upgraded RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Finally, Susquehanna upped their price target on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $96.93.

RTX Stock Performance

Shares of RTX stock traded down $0.49 during trading hours on Friday, hitting $101.40. The stock had a trading volume of 13,324,869 shares, compared to its average volume of 7,489,805. The firm has a market capitalization of $134.81 billion, a PE ratio of 39.76, a PEG ratio of 1.83 and a beta of 0.84. RTX Co. has a twelve month low of $68.56 and a twelve month high of $103.89. The stock’s 50 day moving average is $96.70 and its 200 day moving average is $88.60. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.11. The business had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.22 earnings per share. As a group, research analysts forecast that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This is an increase from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 annualized dividend and a dividend yield of 2.49%. RTX’s dividend payout ratio (DPR) is currently 92.55%.

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.