RTX Co. (NYSE:RTX) Shares Sold by Sabal Trust CO

Sabal Trust CO lowered its stake in shares of RTX Co. (NYSE:RTX) by 6.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,537 shares of the company’s stock after selling 694 shares during the quarter. Sabal Trust CO’s holdings in RTX were worth $957,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in RTX. Briaud Financial Planning Inc grew its holdings in RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares in the last quarter. Lynx Investment Advisory acquired a new position in RTX in the second quarter worth about $26,000. Alaska Permanent Fund Corp bought a new stake in RTX in the first quarter valued at about $42,000. Stephens Consulting LLC raised its stake in RTX by 34.1% during the second quarter. Stephens Consulting LLC now owns 448 shares of the company’s stock valued at $45,000 after buying an additional 114 shares in the last quarter. Finally, Fairman Group LLC bought a new position in RTX during the 4th quarter worth approximately $38,000. Institutional investors own 86.50% of the company’s stock.

Insider Activity

In related news, Chairman Gregory Hayes sold 134,887 shares of the stock in a transaction dated 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 completion of the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related 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 directly owns 566,723 shares in the company, valued at $66,725,966.02. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock worth $20,861,880 over the last quarter. Corporate insiders own 0.13% of the company’s stock.

RTX Price Performance

Shares of NYSE RTX opened at $123.34 on Friday. The firm’s 50-day simple moving average is $110.19 and its 200 day simple moving average is $103.29. The stock has a market cap of $164.07 billion, a P/E ratio of 48.37, a P/E/G ratio of 2.17 and a beta of 0.82. 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 Co. has a fifty-two week low of $68.56 and a fifty-two week high of $123.70.

RTX (NYSE:RTX) last issued its quarterly 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. The firm had revenue of $19.72 billion for the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. RTX’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.29 earnings per share. Equities analysts expect that RTX Co. will post 5.45 EPS for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Friday, August 16th. RTX’s payout ratio is 98.82%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wells Fargo & Company dropped their price target on RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. The Goldman Sachs Group increased their target price on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Royal Bank of Canada lifted their price target 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. Melius Research upped their target price on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Finally, TD Cowen raised their price target on RTX from $115.00 to $142.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $153.47.

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.