Somerset Trust Co Sells 134 Shares of RTX Co. (NYSE:RTX)

Somerset Trust Co decreased its holdings in RTX Co. (NYSE:RTX) by 0.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,730 shares of the company’s stock after selling 134 shares during the period. RTX comprises approximately 1.6% of Somerset Trust Co’s investment portfolio, making the stock its 22nd biggest holding. Somerset Trust Co’s holdings in RTX were worth $4,208,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of RTX. Briaud Financial Planning Inc raised its holdings in RTX by 64.1% in the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new position in RTX in the second quarter worth $26,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of RTX during the 2nd quarter valued at $32,000. Fairman Group LLC acquired a new stake in shares of RTX in the 4th quarter worth $38,000. Finally, Beaird Harris Wealth Management LLC increased its position in RTX by 42.2% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock valued at $39,000 after buying an additional 139 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Activity

In other RTX news, insider Shane G. Eddy sold 6,741 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.76, for a total transaction of $773,597.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other RTX news, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.96, for a total value of $938,763.36. Following the sale, the vice president now owns 45,208 shares in the company, valued at $5,197,111.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shane G. Eddy sold 6,741 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.76, for a total value of $773,597.16. The disclosure for this sale can be found here. Insiders sold 178,333 shares of company stock worth $20,861,880 over the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

RTX has been the topic of several recent analyst reports. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their price objective for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price objective on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Royal Bank of Canada upped their target price on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Finally, The Goldman Sachs Group increased their price objective on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, RTX has an average rating of “Hold” and a consensus price target of $161.13.

RTX Price Performance

NYSE:RTX opened at $123.92 on Thursday. The firm has a market cap of $164.75 billion, a P/E ratio of 48.60, a price-to-earnings-growth ratio of 2.20 and a beta of 0.82. The stock has a 50 day moving average of $119.58 and a two-hundred day moving average of $109.11. RTX Co. has a 12 month low of $72.29 and a 12 month high of $125.93. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The company had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.29 EPS. On average, analysts expect that RTX Co. will post 5.45 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.03%. RTX’s dividend payout ratio is currently 98.82%.

About RTX

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.