Trust Co of Kansas Has $8.12 Million Holdings in RTX Corporation (NYSE:RTX)

Trust Co of Kansas cut its holdings in RTX Corporation (NYSE:RTX) by 9.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,287 shares of the company’s stock after selling 6,031 shares during the quarter. RTX comprises about 4.3% of Trust Co of Kansas’ investment portfolio, making the stock its 7th biggest holding. Trust Co of Kansas’ holdings in RTX were worth $8,118,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. 10Elms LLP bought a new stake in RTX during the fourth quarter worth approximately $29,000. Fairway Wealth LLC bought a new position in shares of RTX in the fourth quarter valued at $31,000. Picton Mahoney Asset Management lifted its position in shares of RTX by 2,944.4% during the 4th 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 stake in shares of RTX during the 4th quarter worth $34,000. Finally, Millstone Evans Group LLC acquired a new position in shares of RTX in the 4th quarter worth $39,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RTX. Cowen reaffirmed a “buy” rating on shares of RTX in a report on Friday, May 23rd. Citigroup cut their price objective on RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. UBS Group upped their price objective on shares of RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, DZ Bank upgraded shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price target on the stock in a report on Friday, April 25th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $161.12.

RTX Trading Down 2.7%

NYSE:RTX opened at $141.85 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. The company has a market capitalization of $189.51 billion, a P/E ratio of 41.60, a P/E/G ratio of 2.64 and a beta of 0.63. The stock’s 50 day moving average price is $134.03 and its 200 day moving average price is $127.84. RTX Corporation has a 52 week low of $99.07 and a 52 week high of $149.26.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. The business had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. On average, research analysts forecast that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were given a $0.68 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.92%. This is a boost from RTX’s previous quarterly dividend of $0.63. RTX’s payout ratio is currently 79.77%.

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the sale, the executive vice president now directly owns 16,538 shares of the company’s stock, 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 hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction on Tuesday, May 6th. The stock was 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 owns 9,546 shares in the company, 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. 0.15% of the stock is currently owned by corporate insiders.

RTX Company 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.