Grove Bank & Trust Has $1.05 Million Position in RTX Co. (NYSE:RTX)

Grove Bank & Trust decreased its holdings in shares of RTX Co. (NYSE:RTX) by 31.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,659 shares of the company’s stock after selling 3,903 shares during the quarter. Grove Bank & Trust’s holdings in RTX were worth $1,049,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of RTX. Briaud Financial Planning Inc lifted its position in shares of RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Lynx Investment Advisory acquired a new stake in RTX in the 2nd quarter worth approximately $26,000. Mizuho Securities Co. Ltd. bought a new stake in RTX during the second quarter worth approximately $32,000. Fairman Group LLC acquired a new position in RTX during the fourth quarter valued at approximately $38,000. Finally, Fairfield Financial Advisors LTD bought a new position in shares of RTX in the second quarter valued at approximately $41,000. Institutional investors own 86.50% of the company’s stock.

RTX Price Performance

RTX traded up $0.52 during midday trading on Monday, reaching $124.45. 537,541 shares of the company’s stock were exchanged, compared to its average volume of 6,838,458. RTX Co. has a one year low of $72.48 and a one year high of $125.93. The firm has a market capitalization of $165.46 billion, a price-to-earnings ratio of 48.60, a price-to-earnings-growth ratio of 2.18 and a beta of 0.82. The business has a 50-day simple moving average of $119.86 and a two-hundred day simple moving average of $109.58. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The business had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. During the same quarter in the previous year, the firm earned $1.29 EPS. RTX’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, research analysts predict that RTX Co. will post 5.46 EPS for the current year.

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s dividend payout ratio is currently 98.82%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RTX. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “sell” rating to a “hold” rating and raised their target price for the company from $109.00 to $129.00 in a research note on Thursday, October 3rd. Citigroup boosted their price objective on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday. Robert W. Baird raised their target price on RTX from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Melius Research upped their price target on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Finally, Royal Bank of Canada raised their price objective on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, RTX has an average rating of “Hold” and a consensus price target of $162.50.

Insider Buying and Selling at RTX

In other news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares in the company, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.96, for a total value of $938,763.36. Following the completion of the transaction, the vice president now directly owns 45,208 shares of the company’s stock, valued at $5,197,111.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 178,333 shares of company stock worth $20,861,880 over the last ninety days. Corporate 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.