Intrust Bank NA Increases Stake in RTX Co. (NYSE:RTX)

Intrust Bank NA boosted its holdings in RTX Co. (NYSE:RTX) by 11.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,025 shares of the company’s stock after purchasing an additional 2,071 shares during the period. Intrust Bank NA’s holdings in RTX were worth $1,685,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RTX. Cary Street Partners Investment Advisory LLC boosted its holdings 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 valued at $10,077,000 after acquiring an additional 28,910 shares in the last quarter. Rockline Wealth Management LLC purchased a new position in shares of RTX during the 4th quarter worth approximately $2,438,000. B&D White Capital Company LLC bought a new position in shares of RTX in the 3rd quarter worth approximately $14,186,000. PDS Planning Inc bought a new position in RTX in the fourth quarter worth $356,000. Finally, Cullen Investment Group LTD. purchased a new position in RTX during the fourth quarter valued at $843,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on RTX shares. Susquehanna raised their target price on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday, April 24th. TD Cowen raised their price objective on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Citigroup boosted their target price on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Bank of America lifted their price target on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Robert W. Baird increased their price objective on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, RTX currently has an average rating of “Hold” and a consensus target price of $96.27.

Insider Activity

In other RTX news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the transaction, the chief executive officer now directly owns 636,759 shares in the company, valued at approximately $64,592,832.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the sale, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ramsaran Maharajh sold 312 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the sale, the executive vice president now directly owns 11,676 shares in the company, valued at $1,076,176.92. The disclosure for this sale can be found here. Insiders have sold 127,547 shares of company stock worth $12,553,645 over the last ninety days. Corporate insiders own 0.13% of the company’s stock.

RTX Stock Performance

NYSE RTX traded up $0.23 on Tuesday, hitting $102.67. 484,282 shares of the company traded hands, compared to its average volume of 8,044,375. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.68. The business’s 50 day moving average price is $95.80 and its 200-day moving average price is $87.92. The company has a market capitalization of $136.50 billion, a price-to-earnings ratio of 40.18, a P/E/G ratio of 1.83 and a beta of 0.88. RTX Co. has a 52-week low of $68.56 and a 52-week high of $103.89.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 EPS. Equities analysts expect that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 2.30%. RTX’s dividend payout ratio is presently 92.55%.

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.