Simmons Bank Sells 2,294 Shares of RTX Co. (NYSE:RTX)

Simmons Bank cut its stake in RTX Co. (NYSE:RTX) by 6.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,778 shares of the company’s stock after selling 2,294 shares during the quarter. Simmons Bank’s holdings in RTX were worth $2,842,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Bear Mountain Capital Inc. purchased a new stake in shares of RTX during the fourth quarter valued at about $25,000. Strengthening Families & Communities LLC purchased a new position in RTX in the third quarter worth $28,000. Planned Solutions Inc. acquired a new position in shares of RTX during the fourth quarter worth $30,000. Financial Gravity Asset Management Inc. lifted its holdings in shares of RTX by 352.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after purchasing an additional 345 shares during the last quarter. Finally, Valley National Advisers Inc. boosted its position in shares of RTX by 37.4% in the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after purchasing an additional 127 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

RTX Price Performance

Shares of RTX traded up $1.31 during trading hours on Tuesday, hitting $103.22. 6,933,019 shares of the stock were exchanged, compared to its average volume of 8,097,605. The stock’s 50-day moving average price is $96.94 and its two-hundred day moving average price is $88.89. 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 company has a market cap of $137.23 billion, a price-to-earnings ratio of 39.89, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84. RTX Co. has a 12-month low of $68.56 and a 12-month high of $103.89.

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

RTX Increases Dividend

The business also recently declared 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. This represents a $2.52 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Thursday, May 16th. This is a positive change from RTX’s previous quarterly dividend of $0.59. RTX’s payout ratio is currently 92.55%.

Insider Activity at RTX

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

Wall Street Analyst Weigh In

RTX has been the subject of several recent analyst reports. Barclays raised their price target on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. UBS Group upped their price target on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. TheStreet upgraded shares of RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Wells Fargo & Company reissued an “overweight” rating and issued a $120.00 target price on shares of RTX in a research report on Monday, April 1st. Finally, 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. Two investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $96.93.

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.