Webster Bank N. A. Has $1.63 Million Holdings in RTX Co. (NYSE:RTX)

Webster Bank N. A. cut its stake in RTX Co. (NYSE:RTX) by 8.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,674 shares of the company’s stock after selling 1,621 shares during the period. Webster Bank N. A.’s holdings in RTX were worth $1,626,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. RFG Advisory LLC lifted its stake in RTX by 96.1% in the 1st quarter. RFG Advisory LLC now owns 40,354 shares of the company’s stock valued at $3,936,000 after purchasing an additional 19,779 shares during the last quarter. TCW Group Inc. acquired a new stake in RTX in the fourth quarter valued at approximately $1,912,000. Robinson Smith Wealth Advisors LLC acquired a new stake in RTX in the fourth quarter valued at approximately $672,000. Mather Group LLC. boosted its position in RTX by 8.5% in the fourth quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock valued at $1,153,000 after buying an additional 1,079 shares in the last quarter. Finally, Rockline Wealth Management LLC acquired a new stake in RTX in the fourth quarter valued at approximately $2,438,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on RTX shares. Robert W. Baird lifted their price target on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. TD Cowen lifted their price target on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Susquehanna lifted their price target on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday, April 24th. Barclays boosted their target price on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Finally, Wells Fargo & Company boosted their target price on shares of RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, RTX presently has an average rating of “Hold” and a consensus price target of $98.33.

RTX Trading Down 0.2 %

Shares of RTX stock traded down $0.23 during trading on Friday, reaching $100.39. The company’s stock had a trading volume of 13,853,219 shares, compared to its average volume of 6,408,701. The company has a market cap of $133.47 billion, a price-to-earnings ratio of 39.37, a PEG ratio of 1.77 and a beta of 0.83. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The firm’s 50-day moving average is $104.42 and its two-hundred day moving average is $95.47. RTX Co. has a 52-week low of $68.56 and a 52-week high of $108.65.

RTX (NYSE:RTX) last announced 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. The business had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.22 EPS. On average, sell-side analysts anticipate that RTX Co. will post 5.39 earnings per share for the current year.

RTX Dividend Announcement

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

Insider Transactions at RTX

In other news, insider Stephen J. Timm sold 19,880 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the sale, the insider now directly owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at approximately $64,592,832.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,937 shares of company stock valued at $12,256,952. Company insiders own 0.13% of the company’s stock.

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.