Rockland Trust Co. Sells 1,255 Shares of RTX Co. (NYSE:RTX)

Rockland Trust Co. trimmed its stake in shares of RTX Co. (NYSE:RTX) by 17.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,081 shares of the company’s stock after selling 1,255 shares during the quarter. Rockland Trust Co.’s holdings in RTX were worth $805,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RTX. 10Elms LLP bought a new stake in shares of RTX in the fourth quarter valued at about $29,000. Fairway Wealth LLC bought a new stake in shares of RTX in the fourth quarter valued at about $31,000. Picton Mahoney Asset Management boosted its position 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 period. Greenline Partners LLC bought a new stake in shares of RTX in the fourth quarter valued at about $34,000. Finally, Millstone Evans Group LLC bought a new stake in shares of RTX in the fourth quarter valued at about $39,000. 86.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of analyst reports. UBS Group boosted their price target on RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Morgan Stanley raised RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price target for the company in a research note on Wednesday, April 23rd. Cowen reaffirmed a “buy” rating on shares of RTX in a research note on Friday, May 23rd. DZ Bank raised RTX from a “sell” rating to a “hold” rating and set a $129.00 price target for the company in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. dropped their price target on RTX from $150.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $159.82.

Insider Activity at RTX

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

RTX Stock Performance

Shares of RTX stock opened at $145.47 on Friday. The business’s 50 day simple moving average is $131.41 and its 200 day simple moving average is $126.50. RTX Co. has a one year low of $99.07 and a one year high of $146.02. The stock has a market capitalization of $194.34 billion, a PE ratio of 40.98, a PEG ratio of 2.11 and a beta of 0.63. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX) last announced 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. RTX had a return on equity of 12.45% and a net margin of 5.91%. The business had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. As a group, research analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were issued a $0.68 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This is a boost from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 1.87%. RTX’s dividend payout ratio is presently 79.77%.

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.