Commerce Bank Decreases Holdings in RTX Co. (NYSE:RTX)

Commerce Bank decreased its stake in RTX Co. (NYSE:RTX - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 562,283 shares of the company's stock after selling 8,306 shares during the period. Commerce Bank's holdings in RTX were worth $65,067,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fairway Wealth LLC purchased a new stake in RTX in the 4th quarter worth about $31,000. Picton Mahoney Asset Management grew its holdings in shares of RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after purchasing an additional 265 shares in the last quarter. Modus Advisors LLC bought a new stake in shares of RTX during the 4th quarter worth $39,000. Millstone Evans Group LLC bought a new position in shares of RTX during the 4th quarter valued at about $39,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of RTX in the 4th quarter worth approximately $40,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Price Performance

NYSE RTX traded down $11.12 during trading on Tuesday, hitting $115.00. 7,241,538 shares of the stock traded hands, compared to its average volume of 5,476,757. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $153.53 billion, a P/E ratio of 32.46, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. RTX Co. has a 12-month low of $99.07 and a 12-month high of $136.17. The firm has a 50-day simple moving average of $128.57 and a 200-day simple moving average of $123.84.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. The company had revenue of $20.31 billion for the quarter, compared to analysts' expectations of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 2.19%. RTX's dividend payout ratio is currently 70.99%.

Insider Activity

In related news, CEO Christopher T. Calio sold 27,379 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the sale, the chief executive officer now directly owns 81,508 shares in the company, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total transaction of $361,728.40. Following the completion of the sale, the insider now owns 5,272 shares of the company's stock, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,831 shares of company stock worth $10,309,302. Corporate insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RTX shares. Royal Bank of Canada lifted their price target on RTX from $140.00 to $150.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Morgan Stanley increased their price objective on RTX from $130.00 to $135.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 29th. Argus raised RTX from a "hold" rating to a "buy" rating in a research report on Tuesday, February 11th. StockNews.com downgraded shares of RTX from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Finally, Robert W. Baird upgraded RTX from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, RTX has a consensus rating of "Moderate Buy" and a consensus target price of $165.27.

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.