UMB Bank n.a. Sells 2,177 Shares of RTX Co. (NYSE:RTX)

UMB Bank n.a. reduced its holdings in shares of RTX Co. (NYSE:RTX) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,916 shares of the company’s stock after selling 2,177 shares during the period. UMB Bank n.a.’s holdings in RTX were worth $11,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling

In other news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 transaction of $938,763.36. Following the sale, the vice president now owns 45,208 shares of the company’s stock, valued at $5,197,111.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 178,333 shares of company stock worth $20,861,880. Corporate insiders own 0.13% of the company’s stock.

RTX Price Performance

RTX stock traded down $0.30 during midday trading on Thursday, reaching $123.65. 556,830 shares of the company were exchanged, compared to its average volume of 6,881,084. The company has a market capitalization of $164.39 billion, a price-to-earnings ratio of 48.60, a P/E/G ratio of 2.20 and a beta of 0.82. The firm’s 50-day simple moving average is $119.58 and its 200-day simple moving average is $109.11. RTX Co. has a 1 year low of $72.29 and a 1 year high of $125.93. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99.

RTX (NYSE:RTX) last posted its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. RTX had a net margin of 3.12% and a return on equity of 11.37%. The firm had revenue of $19.72 billion during the quarter, compared to the consensus estimate of $19.29 billion. During the same quarter in the prior year, the company earned $1.29 EPS. The company’s revenue was up 7.7% on a year-over-year basis. On average, analysts anticipate that RTX Co. will post 5.45 EPS for the current 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 paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.04%. RTX’s dividend payout ratio (DPR) is presently 98.82%.

Analyst Ratings Changes

Several research firms have issued reports on RTX. Robert W. Baird raised their target price on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a report on Tuesday, July 30th. Susquehanna boosted their target price on RTX from $119.00 to $140.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Bank of America upgraded shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $110.00 to $140.00 in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their price objective on shares of RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, RTX currently has an average rating of “Hold” and an average target price of $161.13.

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.