Keybank National Association OH Sells 7,423 Shares of RTX Co. (NYSE:RTX)

Keybank National Association OH reduced its position in RTX Co. (NYSE:RTX - Free Report) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 679,866 shares of the company's stock after selling 7,423 shares during the quarter. Keybank National Association OH owned approximately 0.05% of RTX worth $78,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new stake in RTX in the 3rd quarter valued at about $29,000. Western Pacific Wealth Management LP bought a new position in RTX in the 3rd quarter worth approximately $41,000. Modus Advisors LLC purchased a new position in RTX in the 4th quarter valued at approximately $39,000. Comprehensive Financial Planning Inc. PA bought a new stake in RTX during the 4th quarter valued at $40,000. Finally, Iron Horse Wealth Management LLC lifted its position in shares of RTX by 296.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company's stock worth $43,000 after acquiring an additional 279 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

RTX Price Performance

RTX stock traded up $1.05 during mid-day trading on Wednesday, hitting $129.75. 5,533,694 shares of the stock were exchanged, compared to its average volume of 5,626,379. The business has a fifty day moving average price of $123.30 and a 200 day moving average price of $121.59. RTX Co. has a 12 month low of $89.44 and a 12 month high of $135.36. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The stock has a market capitalization of $172.85 billion, a price-to-earnings ratio of 36.55, a PEG ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, sell-side analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Friday, February 21st. RTX's dividend payout ratio is currently 70.99%.

Insider Buying and Selling

In related news, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction dated 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 $10,625,382.88. This represents a 25.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,831 shares of company stock worth $10,309,302 in the last 90 days. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RTX shares. StockNews.com lowered RTX from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Bank of America upped their price target on RTX from $145.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Morgan Stanley boosted their price objective on shares of RTX from $130.00 to $135.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 29th. Wells Fargo & Company increased their target price on shares of RTX from $151.00 to $156.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Finally, Citigroup upgraded shares of RTX from a "neutral" rating to a "buy" rating and boosted their price target for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $163.40.

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.