Commerce Bank Sells 64,681 Shares of RTX Co. (NYSE:RTX)

Commerce Bank lessened its position in RTX Co. (NYSE:RTX) by 5.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,053,649 shares of the company’s stock after selling 64,681 shares during the period. Commerce Bank owned approximately 0.08% of RTX worth $88,654,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of RTX. Bear Mountain Capital Inc. acquired a new position in RTX during the fourth quarter worth $25,000. Planned Solutions Inc. bought a new stake in shares of RTX during the fourth quarter worth about $30,000. Financial Gravity Asset Management Inc. raised its holdings 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 worth $32,000 after acquiring an additional 345 shares during the last quarter. Valley National Advisers Inc. boosted its stake in RTX by 37.4% during the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after purchasing an additional 127 shares during the last quarter. Finally, Milestone Investment Advisors LLC bought a new stake in RTX during the 3rd quarter worth approximately $37,000. 86.50% of the stock is owned by institutional investors and hedge funds.

RTX Stock Performance

RTX stock traded down $0.89 during midday trading on Thursday, reaching $105.42. The stock had a trading volume of 3,669,620 shares, compared to its average volume of 7,795,388. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $140.16 billion, a PE ratio of 41.58, a P/E/G ratio of 1.85 and a beta of 0.84. RTX Co. has a 12 month low of $68.56 and a 12 month high of $107.82. The firm’s 50-day moving average price is $100.50 and its 200 day moving average price is $91.02.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates 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 in the prior year, the company posted $1.22 EPS. RTX’s revenue was up 12.1% compared to the same quarter last year. As a group, research analysts predict that RTX Co. will post 5.4 earnings per share for the current fiscal year.

RTX Increases Dividend

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

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RTX. Wells Fargo & Company lifted their target price on RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. TD Cowen increased their target price on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. UBS Group boosted their price target on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Susquehanna increased their price objective on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday, April 24th. Finally, Bank of America boosted their target price on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $98.33.

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.