RTX Co. (NYSE:RTX) Position Raised by CNB Bank

CNB Bank grew its position in shares of RTX Co. (NYSE:RTX) by 10.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,523 shares of the company’s stock after acquiring an additional 1,027 shares during the quarter. CNB Bank’s holdings in RTX were worth $1,275,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Capital Research Global Investors grew its position in RTX by 4.2% in the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after purchasing an additional 3,761,246 shares during the last quarter. Capital International Investors boosted its position in shares of RTX by 4.8% during the first quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after buying an additional 3,161,165 shares during the period. Clearbridge Investments LLC grew its holdings in RTX by 2.0% in the 1st quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after buying an additional 213,331 shares in the last quarter. Legal & General Group Plc grew its holdings in RTX by 4.4% in the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock worth $861,122,000 after buying an additional 362,340 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in RTX by 5.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after acquiring an additional 408,551 shares during the period. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of NYSE RTX opened at $125.92 on Friday. The stock’s fifty day simple moving average is $120.91 and its 200 day simple moving average is $110.46. The stock has a market capitalization of $167.41 billion, a price-to-earnings ratio of 49.38, a PEG ratio of 2.21 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 52-week low of $72.48 and a 52-week high of $127.00.

RTX (NYSE:RTX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $19.29 billion. During the same quarter last year, the business posted $1.29 EPS. RTX’s revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts forecast that RTX Co. will post 5.45 earnings per share for the current fiscal 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 given a $0.63 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.00%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Insider Buying and Selling

In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the sale, the vice president now directly owns 45,208 shares of the company’s stock, valued at $5,197,111.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Gregory Hayes sold 134,887 shares of the business’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 transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Kevin G. Dasilva sold 8,166 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.96, for a total transaction of $938,763.36. Following the completion of the transaction, the vice president now owns 45,208 shares in the company, valued at approximately $5,197,111.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 178,333 shares of company stock valued at $20,861,880. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

RTX has been the subject of several recent analyst reports. Bank of America raised RTX from a “neutral” rating to a “buy” rating and increased their price target for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, October 8th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Susquehanna increased their price objective 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, Citigroup boosted their target price on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, RTX presently has an average rating of “Hold” and a consensus price target of $162.50.

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.