Lincoln National Corp Cuts Stake in RTX Co. (NYSE:RTX)

Lincoln National Corp cut its holdings in RTX Co. (NYSE:RTX) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,078 shares of the company’s stock after selling 2,875 shares during the quarter. Lincoln National Corp’s holdings in RTX were worth $3,540,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cary Street Partners Investment Advisory LLC raised its stake in RTX by 26.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock worth $10,077,000 after buying an additional 28,910 shares in the last quarter. Mather Group LLC. raised its position in shares of RTX by 8.5% in the 4th quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock worth $1,153,000 after acquiring an additional 1,079 shares in the last quarter. Rockline Wealth Management LLC purchased a new stake in shares of RTX during the 4th quarter worth $2,438,000. AllGen Financial Advisors Inc. boosted its position in RTX by 12.8% during the fourth quarter. AllGen Financial Advisors Inc. now owns 32,325 shares of the company’s stock valued at $2,720,000 after purchasing an additional 3,657 shares in the last quarter. Finally, B&D White Capital Company LLC purchased a new position in RTX in the third quarter valued at about $14,186,000. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Performance

RTX traded up $1.31 during midday trading on Tuesday, hitting $103.22. 6,933,019 shares of the company were exchanged, compared to its average volume of 8,097,605. The firm has a market capitalization of $137.23 billion, a price-to-earnings ratio of 39.89, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84. The company’s 50 day simple moving average is $96.94 and its 200 day simple moving average is $88.89. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. RTX Co. has a 1-year low of $68.56 and a 1-year high of $103.89.

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 company had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. RTX’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the business earned $1.22 earnings per share. As a group, sell-side analysts predict that RTX Co. will post 5.4 earnings per share for the current year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 17th will be issued a $0.63 dividend. This is a boost from RTX’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, May 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.44%. RTX’s payout ratio is presently 92.55%.

Insider Transactions at RTX

In related news, Director Robert Kelly Ortberg sold 10,295 shares of RTX stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the completion of the transaction, the director now owns 129,120 shares in the company, valued at approximately $13,166,366.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other RTX news, COO Christopher T. Calio sold 367 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total transaction of $33,995.21. Following the transaction, the chief operating officer now directly owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert Kelly Ortberg sold 10,295 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the sale, the director now directly owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. Insiders have sold a total of 137,842 shares of company stock valued at $13,603,426 in the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Susquehanna raised their price target on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday, April 24th. Bank of America lifted their price target on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Robert W. Baird increased their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. TheStreet upgraded RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Finally, Barclays boosted their price target on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, RTX currently has a consensus rating of “Hold” and an average price target of $96.93.

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.