First American Bank Has $6.17 Million Stock Position in RTX Corporation (NYSE:RTX)

First American Bank raised its stake in shares of RTX Corporation (NYSE:RTX) by 1.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,591 shares of the company’s stock after purchasing an additional 639 shares during the quarter. First American Bank’s holdings in RTX were worth $6,171,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. 10Elms LLP acquired a new stake in RTX during the fourth quarter valued at approximately $29,000. Fairway Wealth LLC acquired a new stake in RTX during the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management raised its stake in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after acquiring an additional 265 shares during the last quarter. Greenline Partners LLC bought a new position in shares of RTX in the fourth quarter valued at approximately $34,000. Finally, Millstone Evans Group LLC bought a new position in shares of RTX in the fourth quarter valued at approximately $39,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at RTX

In other news, EVP Dantaya M. Williams sold 16,922 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the transaction, the executive vice president now owns 16,538 shares of the company’s stock, valued at $2,275,959.56. The trade was a 50.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president now directly owns 9,546 shares of the company’s stock, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Wall Street Zen cut shares of RTX from a “buy” rating to a “hold” rating in a research note on Saturday. Royal Bank Of Canada cut their target price on shares of RTX from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company lifted their target price on shares of RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a research note on Tuesday, April 15th. Citigroup cut their target price on shares of RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Finally, Cowen reiterated a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, RTX has a consensus rating of “Moderate Buy” and an average price target of $159.82.

RTX Stock Performance

Shares of RTX stock opened at $146.75 on Friday. The firm has a fifty day moving average of $133.43 and a two-hundred day moving average of $127.42. The stock has a market capitalization of $196.05 billion, a price-to-earnings ratio of 43.04, a PEG ratio of 2.64 and a beta of 0.63. RTX Corporation has a 52 week low of $99.07 and a 52 week high of $149.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion during the quarter, compared to analysts’ expectations of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. As a group, equities research analysts predict that RTX Corporation will post 6.11 EPS for the current year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were given a dividend of $0.68 per share. This is a boost from RTX’s previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. This represents a $2.72 annualized dividend and a dividend yield of 1.85%. RTX’s payout ratio is presently 79.77%.

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.