Atlantic Union Bankshares Corp Decreases Stake in RTX Co. (NYSE:RTX)

Atlantic Union Bankshares Corp lowered its stake in RTX Co. (NYSE:RTX) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,530 shares of the company’s stock after selling 3,211 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in RTX were worth $3,758,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Bear Mountain Capital Inc. purchased a new position in shares of RTX during the fourth quarter valued at approximately $25,000. Planned Solutions Inc. purchased a new stake in RTX in the fourth quarter worth about $30,000. Financial Gravity Asset Management Inc. grew its position in shares of RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares in the last quarter. Valley National Advisers Inc. grew its position in shares of RTX by 37.4% during the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after purchasing an additional 127 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of RTX during the fourth quarter worth about $38,000. Institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In other RTX news, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the transaction, the director now directly owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Robert Kelly Ortberg sold 10,295 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the transaction, the director now directly owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the transaction, the insider now directly owns 149,050 shares of the company’s stock, valued at $15,757,566. The disclosure for this sale can be found here. Insiders sold a total of 119,937 shares of company stock worth $12,256,952 over the last 90 days. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on RTX. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research note on Thursday. Susquehanna raised their price objective on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. TD Cowen lifted their price target on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. UBS Group lifted their price target on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, Robert W. Baird raised their price objective on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $98.33.

RTX Stock Down 0.2 %

Shares of RTX stock traded down $0.23 during trading hours on Friday, reaching $100.39. 13,844,477 shares of the company were exchanged, compared to its average volume of 7,594,032. The firm has a market cap of $133.47 billion, a PE ratio of 39.37, a PEG ratio of 1.78 and a beta of 0.83. The stock’s fifty day moving average is $104.42 and its 200 day moving average is $95.47. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. RTX Co. has a 1 year low of $68.56 and a 1 year high of $108.65.

RTX (NYSE:RTX) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. During the same quarter in the previous year, the firm earned $1.22 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. As a group, equities research analysts forecast that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.51%. RTX’s payout ratio is currently 98.82%.

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.