Clearstead Trust LLC Sells 593 Shares of RTX Co. (NYSE:RTX)

Clearstead Trust LLC decreased its holdings in shares of RTX Co. (NYSE:RTX) by 14.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,513 shares of the company’s stock after selling 593 shares during the period. Clearstead Trust LLC’s holdings in RTX were worth $296,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bear Mountain Capital Inc. bought a new stake in shares of RTX during the 4th quarter valued at $25,000. Planned Solutions Inc. bought a new stake in shares of RTX in the 4th quarter valued at $30,000. Strengthening Families & Communities LLC bought a new stake in shares of RTX in the 3rd quarter valued at $28,000. Financial Gravity Asset Management Inc. increased its position in shares of RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after buying an additional 345 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new position in RTX in the 4th quarter worth $38,000. Institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

RTX stock traded down $0.49 during trading hours on Friday, hitting $101.40. The company had a trading volume of 13,324,869 shares, compared to its average volume of 7,489,805. The firm has a market cap of $134.81 billion, a PE ratio of 39.76, a PEG ratio of 1.83 and a beta of 0.84. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. RTX Co. has a one year low of $68.56 and a one year high of $103.89. The firm has a 50-day moving average of $96.70 and a 200 day moving average of $88.60.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The company had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. During the same period last year, the firm earned $1.22 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, sell-side analysts expect that RTX Co. will post 5.4 earnings per share for the current 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 issued 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 annualized dividend and a dividend yield of 2.49%. RTX’s dividend payout ratio (DPR) is currently 92.55%.

Insider Transactions at RTX

In related news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the sale, the insider now owns 6,741 shares in the company, valued at approximately $614,711.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Ramsaran Maharajh sold 312 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total transaction of $28,757.04. Following the sale, the executive vice president now owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the transaction, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,842 shares of company stock valued at $13,603,426. 0.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RTX. Bank of America upped their target price on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $120.00 target price on shares of RTX in a research note on Monday, April 1st. Susquehanna upped their target price on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a research note on Wednesday, April 24th. Robert W. Baird upped their target price on shares of RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, UBS Group increased their price objective on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $96.93.

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.