Stock Yards Bank & Trust Co. Lowers Stock Position in RTX Co. (NYSE:RTX)

Stock Yards Bank & Trust Co. lessened its stake in shares of RTX Co. (NYSE:RTX) by 8.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,401 shares of the company’s stock after selling 2,519 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in RTX were worth $2,650,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Gryphon Financial Partners LLC purchased a new position in shares of RTX in the fourth quarter valued at approximately $474,000. TrinityPoint Wealth LLC boosted its stake in shares of RTX by 8.1% in the fourth quarter. TrinityPoint Wealth LLC now owns 37,374 shares of the company’s stock valued at $3,145,000 after purchasing an additional 2,790 shares during the period. Gladstone Institutional Advisory LLC boosted its stake in shares of RTX by 14.6% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 24,810 shares of the company’s stock valued at $2,088,000 after purchasing an additional 3,157 shares during the period. Assetmark Inc. boosted its stake in shares of RTX by 2.0% in the fourth quarter. Assetmark Inc. now owns 112,525 shares of the company’s stock valued at $9,468,000 after purchasing an additional 2,217 shares during the period. Finally, Journey Strategic Wealth LLC purchased a new position in shares of RTX in the fourth quarter valued at approximately $313,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Transactions at RTX

In other news, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the transaction, the vice president now directly owns 12,318 shares in the company, valued at $1,402,773.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Shane G. Eddy sold 6,741 shares of RTX stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.76, for a total value of $773,597.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Amy L. Johnson sold 6,734 shares of RTX stock in a transaction on Monday, July 29th. The shares were sold at an average price of $113.88, for a total transaction of $766,867.92. Following the completion of the transaction, the vice president now owns 12,318 shares in the company, valued at $1,402,773.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 178,333 shares of company stock worth $20,861,880. Insiders own 0.13% of the company’s stock.

RTX Stock Performance

Shares of RTX opened at $118.73 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The firm has a market cap of $157.94 billion, a PE ratio of 46.56, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. The company’s 50 day simple moving average is $114.49 and its 200-day simple moving average is $105.68. RTX Co. has a 12-month low of $68.56 and a 12-month high of $123.70.

RTX (NYSE:RTX) last announced its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The business had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $1.29 earnings per share. As a group, equities analysts predict that RTX Co. will post 5.45 EPS for the current year.

Wall Street Analyst Weigh In

RTX has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price objective on shares of RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. The Goldman Sachs Group raised their price objective on shares of RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a report on Tuesday, July 30th. Susquehanna raised their target price on shares of RTX from $119.00 to $140.00 and gave the company a “positive” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada raised their target price on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $157.31.

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.