Community Bank N.A. Buys 4,231 Shares of RTX Co. (NYSE:RTX)

Community Bank N.A. lifted its holdings in shares of RTX Co. (NYSE:RTX) by 13.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,594 shares of the company’s stock after purchasing an additional 4,231 shares during the quarter. Community Bank N.A.’s holdings in RTX were worth $3,079,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. BIP Wealth LLC grew its holdings in shares of RTX by 5.7% during the fourth quarter. BIP Wealth LLC now owns 4,657 shares of the company’s stock worth $392,000 after purchasing an additional 250 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in RTX by 4.4% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 33,437 shares of the company’s stock worth $2,813,000 after buying an additional 1,402 shares in the last quarter. Atria Wealth Solutions Inc. boosted its stake in RTX by 8.4% in the fourth quarter. Atria Wealth Solutions Inc. now owns 113,264 shares of the company’s stock worth $9,530,000 after buying an additional 8,816 shares in the last quarter. Carret Asset Management LLC boosted its stake in RTX by 2.0% in the fourth quarter. Carret Asset Management LLC now owns 19,743 shares of the company’s stock worth $1,661,000 after buying an additional 386 shares in the last quarter. Finally, Wynn Capital LLC purchased a new stake in RTX in the fourth quarter worth approximately $1,081,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Down 0.4 %

Shares of NYSE:RTX traded down $0.36 on Wednesday, hitting $101.02. 7,719,137 shares of the company traded hands, compared to its average volume of 8,257,574. RTX Co. has a 52 week low of $68.56 and a 52 week high of $103.89. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69. The stock has a 50 day simple moving average of $95.16 and a 200-day simple moving average of $87.21. The company has a market cap of $134.32 billion, a PE ratio of 45.10, a PEG ratio of 1.85 and a beta of 0.88.

RTX (NYSE:RTX) last issued its quarterly earnings results 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. RTX had a return on equity of 10.34% and a net margin of 4.64%. The firm had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. During the same period last year, the company earned $1.22 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. As a group, research analysts expect that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 annualized dividend and a dividend yield of 2.34%. RTX’s dividend payout ratio (DPR) is presently 105.36%.

Insiders Place Their Bets

In other RTX news, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the transaction, the chief financial officer now directly owns 49,894 shares of the company’s stock, valued at $4,608,209.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,785 shares of company stock valued at $3,448,188. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RTX shares. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $120.00 target price on shares of RTX in a research note on Monday, April 1st. Citigroup increased their price objective on RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday. Barclays increased their price objective on RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Royal Bank of Canada increased their price objective on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. Finally, TD Cowen increased their price objective on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $96.27.

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.