Washington Trust Bank Has $372,000 Stake in RTX Co. (NYSE:RTX)

Washington Trust Bank lifted its stake in shares of RTX Co. (NYSE:RTX) by 86.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,217 shares of the company’s stock after purchasing an additional 1,487 shares during the period. Washington Trust Bank’s holdings in RTX were worth $372,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RTX. Fairway Wealth LLC acquired a new position in RTX in the fourth quarter valued at approximately $31,000. Picton Mahoney Asset Management lifted its holdings in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares during the period. Modus Advisors LLC acquired a new position in RTX in the fourth quarter valued at approximately $39,000. Comprehensive Financial Planning Inc. PA acquired a new position in RTX in the fourth quarter valued at approximately $40,000. Finally, Iron Horse Wealth Management LLC lifted its holdings in RTX by 296.8% in the fourth 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 during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at RTX

In other news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the sale, the chief financial officer now owns 59,556 shares in the company, valued at approximately $7,763,124.60. This trade represents a 21.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock worth $10,309,302 over the last quarter. 0.15% of the stock is currently owned by insiders.

RTX Stock Down 1.6 %

RTX stock opened at $132.35 on Friday. The company has a market cap of $176.70 billion, a P/E ratio of 37.28, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. RTX Co. has a 1-year low of $94.19 and a 1-year high of $135.74. The company has a fifty day simple moving average of $127.15 and a 200 day simple moving average of $122.54. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio is currently 70.99%.

Analysts Set New Price Targets

RTX has been the topic of several analyst reports. Morgan Stanley increased their price objective on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their target price for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Finally, Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $166.40.

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.