Blue Trust Inc. Has $2.55 Million Stake in RTX Co. (NYSE:RTX)

by · The Markets Daily

Blue Trust Inc. boosted its stake in shares of RTX Co. (NYSE:RTX – Free Report) by 27.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,028 shares of the company’s stock after acquiring an additional 4,521 shares during the quarter. Blue Trust Inc.’s holdings in RTX were worth $2,548,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Riverview Trust Co increased its position in shares of RTX by 14.6% during the 3rd quarter. Riverview Trust Co now owns 2,109 shares of the company’s stock worth $256,000 after purchasing an additional 269 shares in the last quarter. Moss Adams Wealth Advisors LLC grew its stake in RTX by 12.7% during the third quarter. Moss Adams Wealth Advisors LLC now owns 3,948 shares of the company’s stock worth $478,000 after buying an additional 445 shares during the last quarter. Accurate Wealth Management LLC increased its holdings in shares of RTX by 12.7% during the third quarter. Accurate Wealth Management LLC now owns 6,215 shares of the company’s stock worth $777,000 after buying an additional 698 shares in the last quarter. Net Worth Advisory Group bought a new position in shares of RTX in the third quarter valued at approximately $251,000. Finally, Stratos Investment Management LLC boosted its holdings in shares of RTX by 0.8% in the 3rd quarter. Stratos Investment Management LLC now owns 38,947 shares of the company’s stock worth $4,719,000 after acquiring an additional 307 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Royal Bank of Canada lifted their price objective on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. The Goldman Sachs Group lifted their price target on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Robert W. Baird increased their price objective on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Finally, Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, RTX currently has an average rating of “Hold” and a consensus target price of $162.50.

Get Our Latest Research Report on RTX

Insider Transactions at RTX

In related news, insider Shane G. Eddy sold 6,741 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Shane G. Eddy sold 6,741 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock valued at $20,861,880 over the last three months. 0.13% of the stock is currently owned by corporate insiders.

RTX Stock Up 0.1 %

NYSE:RTX opened at $125.92 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. RTX Co. has a 12-month low of $72.48 and a 12-month high of $127.00. The stock’s fifty day simple moving average is $120.91 and its 200-day simple moving average is $110.46. The firm has a market capitalization of $167.41 billion, a P/E ratio of 49.38, a P/E/G ratio of 2.21 and a beta of 0.82.

RTX (NYSE:RTX – Get Free Report) last issued its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.29 earnings per share. Equities research analysts expect that RTX Co. will post 5.45 earnings per share for the current year.

RTX Dividend Announcement

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

About RTX

(Free Report)

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.

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