OLD Point Trust & Financial Services N A Reduces Stock Position in RTX Co. (NYSE:RTX)

OLD Point Trust & Financial Services N A decreased its position in shares of RTX Co. (NYSE:RTX - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,223 shares of the company's stock after selling 1,877 shares during the period. RTX accounts for 2.6% of OLD Point Trust & Financial Services N A's investment portfolio, making the stock its 11th biggest holding. OLD Point Trust & Financial Services N A's holdings in RTX were worth $7,548,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fusion Capital LLC lifted its stake in shares of RTX by 0.5% in the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company's stock valued at $1,754,000 after purchasing an additional 80 shares during the period. McDonough Capital Management Inc lifted its stake in shares of RTX by 1.6% in the 4th quarter. McDonough Capital Management Inc now owns 5,215 shares of the company's stock valued at $603,000 after purchasing an additional 80 shares during the period. New England Professional Planning Group Inc. lifted its stake in shares of RTX by 3.8% in the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company's stock valued at $253,000 after purchasing an additional 81 shares during the period. Pointe Capital Management LLC lifted its stake in shares of RTX by 0.5% in the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company's stock valued at $2,047,000 after purchasing an additional 81 shares during the period. Finally, Avestar Capital LLC lifted its stake in shares of RTX by 0.6% in the 3rd quarter. Avestar Capital LLC now owns 14,461 shares of the company's stock valued at $1,752,000 after purchasing an additional 85 shares during the period. Institutional investors and hedge funds own 86.50% of the company's stock.

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Insider Activity

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the transaction, the executive vice president now directly owns 44,415 shares of the company's stock, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the transaction, the chief executive officer now directly owns 81,508 shares of the company's stock, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock valued at $10,309,302 over the last three months. Corporate insiders own 0.15% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. StockNews.com downgraded RTX from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. UBS Group raised RTX from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $142.00 to $147.00 in a research note on Monday, February 24th. Argus raised RTX from a "hold" rating to a "buy" rating in a research note on Tuesday, February 11th. Wells Fargo & Company upped their price target on RTX from $151.00 to $156.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Finally, Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $136.00 to $160.00 in a research note on Wednesday. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $166.40.

RTX Stock Down 1.6 %

RTX traded down $2.12 during midday trading on Friday, reaching $132.35. 9,544,708 shares of the company were exchanged, compared to its average volume of 5,373,375. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The company's fifty day moving average price is $127.15 and its 200 day moving average price is $122.56. The company has a market cap of $176.70 billion, a price-to-earnings ratio of 37.28, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. RTX Co. has a one year low of $95.27 and a one year high of $135.74.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS 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%. As a group, analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, February 21st. RTX's dividend payout ratio is presently 70.99%.

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.