RTX Co. (NYSE:RTX) Holdings Lowered by Indiana Trust & Investment Management Co

Indiana Trust & Investment Management Co cut its stake in RTX Co. (NYSE:RTX) by 35.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,193 shares of the company’s stock after selling 1,225 shares during the period. Indiana Trust & Investment Management Co’s holdings in RTX were worth $266,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in RTX. Briaud Financial Planning Inc lifted its stake in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Lynx Investment Advisory purchased a new stake in shares of RTX during the second quarter valued at $26,000. Mizuho Securities Co. Ltd. acquired a new position in shares of RTX in the 2nd quarter valued at $32,000. Fairfield Financial Advisors LTD purchased a new position in RTX in the 2nd quarter worth about $41,000. Finally, Alaska Permanent Fund Corp acquired a new stake in RTX during the 1st quarter worth about $42,000. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Activity

In related news, Chairman Gregory Hayes sold 134,887 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the completion of the transaction, the chief executive officer now owns 88,509 shares in the company, valued at approximately $10,090,026. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 178,333 shares of company stock worth $20,861,880. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RTX. Royal Bank of Canada upped their price target on shares of RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Citigroup increased their target price on RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Susquehanna lifted their price target on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a report on Friday, July 26th. Wells Fargo & Company reduced their price objective on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Finally, Alembic Global Advisors raised RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $162.50.

RTX Stock Performance

RTX traded up $0.54 on Wednesday, hitting $125.57. 1,245,615 shares of the stock traded hands, compared to its average volume of 6,820,869. The business has a fifty day moving average price of $120.26 and a two-hundred day moving average price of $109.96. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. RTX Co. has a 52 week low of $72.48 and a 52 week high of $126.82. The firm has a market capitalization of $166.95 billion, a PE ratio of 48.93, a P/E/G ratio of 2.18 and a beta of 0.82.

RTX (NYSE:RTX) last issued its earnings results on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping 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 firm had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. During the same period last year, the business earned $1.29 earnings per share. RTX’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, research analysts predict that RTX Co. will post 5.46 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, November 15th. RTX’s payout ratio is 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.