FineMark National Bank & Trust Sells 3,886 Shares of RTX Co. (NYSE:RTX)

FineMark National Bank & Trust lessened its position in RTX Co. (NYSE:RTX) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 171,541 shares of the company’s stock after selling 3,886 shares during the quarter. FineMark National Bank & Trust’s holdings in RTX were worth $14,434,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RTX. Norges Bank purchased a new position in shares of RTX in the 4th quarter worth approximately $690,154,000. Massachusetts Financial Services Co. MA grew its position in shares of RTX by 82.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock worth $1,288,157,000 after buying an additional 6,932,011 shares during the last quarter. Boston Partners purchased a new position in shares of RTX in the 3rd quarter worth approximately $355,350,000. Van ECK Associates Corp grew its position in shares of RTX by 129.9% in the 4th quarter. Van ECK Associates Corp now owns 4,061,202 shares of the company’s stock worth $341,710,000 after buying an additional 2,294,908 shares during the last quarter. Finally, Sanders Capital LLC grew its position in shares of RTX by 20.2% in the 3rd quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock worth $719,478,000 after buying an additional 1,682,928 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX traded down $0.94 during trading hours on Thursday, hitting $105.37. The stock had a trading volume of 3,786,236 shares, compared to its average volume of 7,796,833. 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 $100.50 and a 200 day moving average price of $91.02. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $107.82. The firm has a market capitalization of $140.09 billion, a price-to-earnings ratio of 41.58, a PEG ratio of 1.85 and a beta of 0.84.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The company had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.22 earnings per share. As a group, research analysts anticipate that RTX Co. will post 5.4 EPS for the current year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 17th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This is a boost from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 dividend on an annualized basis and a yield of 2.39%. RTX’s dividend payout ratio is currently 98.82%.

Insiders Place Their Bets

In other news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the sale, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the sale, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Kelly Ortberg sold 10,295 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the sale, the director now directly owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 120,042 shares of company stock worth $12,266,459. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. TD Cowen lifted their price objective on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Robert W. Baird boosted their target price on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Citigroup boosted their target price on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Bank of America boosted their target price on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Barclays boosted their target price on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, RTX presently has an average rating of “Hold” and an average target price of $98.33.

RTX 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.