RTX Co. (NYSE:RTX) Shares Bought by Camden National Bank

Camden National Bank grew its stake in shares of RTX Co. (NYSE:RTX) by 44.6% during the fourth quarter, Holdings Channel reports. The firm owned 3,773 shares of the company’s stock after purchasing an additional 1,163 shares during the period. Camden National Bank’s holdings in RTX were worth $437,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RTX. Graypoint LLC raised its holdings in RTX by 1.3% during the third quarter. Graypoint LLC now owns 16,665 shares of the company’s stock worth $2,019,000 after purchasing an additional 213 shares in the last quarter. WoodTrust Financial Corp acquired a new stake in RTX during the third quarter worth approximately $205,000. Washington Trust Bank acquired a new stake in RTX during the third quarter worth approximately $210,000. Western Pacific Wealth Management LP acquired a new stake in RTX during the third quarter worth approximately $41,000. Finally, Consolidated Planning Corp grew its position in shares of RTX by 17.8% during the third quarter. Consolidated Planning Corp now owns 3,027 shares of the company’s stock worth $367,000 after acquiring an additional 458 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Transactions at RTX

In related news, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. The trade was a 25.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was 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 $7,763,124.60. This represents a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock valued at $10,309,302 in the last ninety days. 0.13% of the stock is currently owned by company insiders.

RTX Stock Performance

Shares of RTX opened at $128.63 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a 1 year low of $89.44 and a 1 year high of $135.36. The stock has a market capitalization of $171.35 billion, a P/E ratio of 36.23, a P/E/G ratio of 2.11 and a beta of 0.78. The company’s fifty day moving average is $123.78 and its two-hundred day moving average is $121.70.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping 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%. On average, sell-side analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.96%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Royal Bank of Canada upped their price target on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and upped their price target for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Bank of America upped their price target on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating, ten have assigned 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 an average price target of $163.40.

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.