SouthState Corp Sells 467 Shares of RTX Co. (NYSE:RTX)

SouthState Corp lessened its stake in shares of RTX Co. (NYSE:RTX) by 3.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 12,695 shares of the company’s stock after selling 467 shares during the period. SouthState Corp’s holdings in RTX were worth $1,068,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bear Mountain Capital Inc. bought a new position in shares of RTX during the 4th quarter valued at approximately $25,000. Planned Solutions Inc. purchased a new stake in RTX in the 4th quarter worth $30,000. Strengthening Families & Communities LLC bought a new stake in RTX during the third quarter valued at about $28,000. Financial Gravity Asset Management Inc. lifted its position in shares of RTX by 352.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after acquiring an additional 345 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of RTX in the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on RTX. Royal Bank of Canada boosted their price target on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. Barclays upped 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. Citigroup raised their target price on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Wells Fargo & Company reiterated an “overweight” rating and issued a $120.00 price target on shares of RTX in a research note on Monday, April 1st. Finally, Robert W. Baird raised their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. 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’s stock. According to data from MarketBeat.com, RTX presently has a consensus rating of “Hold” and an average price target of $96.93.

RTX Trading Down 0.5 %

RTX traded down $0.50 during trading on Friday, reaching $101.39. The company had a trading volume of 13,324,712 shares, compared to its average volume of 8,165,671. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. RTX Co. has a 52 week low of $68.56 and a 52 week high of $103.89. The stock has a market cap of $134.80 billion, a P/E ratio of 39.96, a PEG ratio of 1.82 and a beta of 0.84. The business has a 50 day simple moving average of $96.48 and a 200-day simple moving average of $88.30.

RTX (NYSE:RTX) last released its earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.11. The firm had revenue of $19.30 billion during the quarter, compared to analyst estimates of $18.44 billion. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the business earned $1.22 EPS. On average, equities analysts anticipate that RTX Co. will post 5.4 EPS for the current fiscal year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.63 per share. This is a boost from RTX’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, May 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.49%. RTX’s dividend payout ratio is currently 92.55%.

Insider Transactions at RTX

In other RTX news, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the transaction, the chief operating officer now owns 56,707 shares of the company’s stock, valued at approximately $5,252,769.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Ramsaran Maharajh sold 312 shares of the 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 transaction, the executive vice president now owns 11,676 shares of the company’s stock, valued at $1,076,176.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Christopher T. Calio sold 367 shares of RTX stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total value of $33,995.21. Following the sale, the chief operating officer now directly owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,842 shares of company stock worth $13,603,426. 0.13% of the stock is currently owned by company 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.