OLD Point Trust & Financial Services N A Has $7.55 Million Stock Holdings in RTX Co. (NYSE:RTX)

OLD Point Trust & Financial Services N A lowered its stake in shares of RTX Co. (NYSE:RTX) by 2.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 65,223 shares of the company’s stock after selling 1,877 shares during the quarter. RTX accounts for 2.6% of OLD Point Trust & Financial Services N A’s portfolio, making the stock its 11th biggest position. OLD Point Trust & Financial Services N A’s holdings in RTX were worth $7,548,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in RTX. Fairway Wealth LLC purchased a new stake in shares of RTX during the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management raised its stake in RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after acquiring an additional 265 shares during the period. Modus Advisors LLC purchased a new stake in shares of RTX during the 4th quarter valued at approximately $39,000. Comprehensive Financial Planning Inc. PA bought a new position in RTX in the 4th quarter worth approximately $40,000. Finally, Iron Horse Wealth Management LLC grew its stake in RTX by 296.8% in the 4th quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after buying an additional 279 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of analyst reports. Royal Bank of Canada boosted their price objective on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Wells Fargo & Company upped their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Morgan Stanley boosted their target price on RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. boosted their price objective on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $166.40.

RTX Stock Performance

Shares of RTX stock opened at $135.47 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a fifty day moving average of $126.43 and a 200 day moving average of $122.39. The firm has a market capitalization of $180.86 billion, a price-to-earnings ratio of 38.16, a PEG ratio of 2.11 and a beta of 0.78. RTX Co. has a 52 week low of $94.08 and a 52 week high of $136.01.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, research analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.86%. RTX’s dividend payout ratio (DPR) is 70.99%.

Insider Transactions at RTX

In related news, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the sale, the insider now directly owns 5,272 shares of the company’s stock, valued at $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,831 shares of company stock valued at $10,309,302. Corporate insiders own 0.15% 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.