Ledyard National Bank Reduces Stock Position in RTX Co. (NYSE:RTX)

Ledyard National Bank lowered its stake in shares of RTX Co. (NYSE:RTX) by 12.5% during the 4th quarter, HoldingsChannel reports. The fund owned 16,133 shares of the company’s stock after selling 2,295 shares during the period. Ledyard National Bank’s holdings in RTX were worth $1,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Northern Trust Corp raised its position in shares of RTX by 1.9% in the third quarter. Northern Trust Corp now owns 13,726,154 shares of the company’s stock worth $987,871,000 after buying an additional 256,215 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in RTX by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,059,286 shares of the company’s stock valued at $784,735,000 after purchasing an additional 60,319 shares in the last quarter. Sanders Capital LLC raised its position in RTX by 20.2% during the third quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock valued at $719,478,000 after purchasing an additional 1,682,928 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in RTX by 29.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock valued at $602,941,000 after purchasing an additional 1,914,184 shares in the last quarter. Finally, American Century Companies Inc. raised its position in RTX by 9.8% during the third quarter. American Century Companies Inc. now owns 6,665,887 shares of the company’s stock valued at $479,744,000 after purchasing an additional 593,305 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the topic of a number of research reports. Susquehanna raised their price target on RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research report on Wednesday, April 24th. Royal Bank of Canada boosted their price target on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. UBS Group boosted their price target on RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Wells Fargo & Company restated an “overweight” rating and set a $120.00 price target on shares of RTX in a report on Monday, April 1st. Finally, Barclays upped their target price on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, RTX currently has a consensus rating of “Hold” and an average price target of $96.93.

RTX Stock Down 0.4 %

Shares of RTX traded down $0.46 during mid-day trading on Tuesday, reaching $101.98. The company had a trading volume of 1,617,553 shares, compared to its average volume of 8,059,687. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The firm has a 50-day moving average price of $95.80 and a 200 day moving average price of $87.92. RTX Co. has a 52 week low of $68.56 and a 52 week high of $103.89. The company has a market capitalization of $135.58 billion, a price-to-earnings ratio of 40.21, a price-to-earnings-growth ratio of 1.83 and a beta of 0.88.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.11. The business had revenue of $19.30 billion for 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%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.22 EPS. On average, sell-side analysts forecast that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Friday, February 23rd were given a $0.59 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 annualized dividend and a yield of 2.31%. RTX’s dividend payout ratio (DPR) is presently 92.55%.

Insider Activity at RTX

In related news, insider Shane G. Eddy sold 35,456 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other RTX news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the sale, the chief financial officer now directly owns 49,894 shares in the company, valued at approximately $4,608,209.84. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the sale, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,547 shares of company stock valued at $12,553,645. 0.13% of the stock is owned by corporate insiders.

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.