Philadelphia Trust Co. Trims Stake in RTX Co. (NYSE:RTX)

Philadelphia Trust Co. trimmed its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 258,317 shares of the company's stock after selling 10,557 shares during the period. RTX makes up about 2.2% of Philadelphia Trust Co.'s investment portfolio, making the stock its 12th largest holding. Philadelphia Trust Co.'s holdings in RTX were worth $29,892,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RTX. Petros Family Wealth LLC purchased a new stake in RTX in the fourth quarter worth about $828,000. Coign Capital Advisors LLC acquired a new stake in shares of RTX during the 4th quarter valued at about $832,000. Heritage Trust Co purchased a new position in RTX during the fourth quarter valued at $1,437,000. Family Office Research LLC acquired a new position in RTX in the 4th quarter valued at $2,355,000. Finally, Argent Trust Co boosted its holdings in shares of RTX by 1.2% during the 4th quarter. Argent Trust Co now owns 87,052 shares of the company's stock worth $10,074,000 after purchasing an additional 1,005 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insiders Place Their Bets

In related news, CEO Christopher T. Calio sold 27,379 shares of RTX 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 transaction, the chief executive officer now owns 81,508 shares of the company's stock, valued at $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Dantaya M. Williams sold 14,031 shares of the firm's stock in a transaction that occurred 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 trade represents a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock worth $10,309,302 over the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

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RTX Stock Down 0.4 %

RTX stock traded down $0.55 during mid-day trading on Tuesday, hitting $128.59. The company had a trading volume of 6,314,267 shares, compared to its average volume of 5,502,574. The stock has a market cap of $171.68 billion, a price-to-earnings ratio of 36.22, a PEG ratio of 2.11 and a beta of 0.58. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a 1 year low of $99.07 and a 1 year high of $136.17. The business has a fifty day moving average of $128.56 and a 200 day moving average of $123.68.

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, beating the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, sell-side analysts expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm 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. This represents a $2.52 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Friday, February 21st. RTX's dividend payout ratio is presently 70.99%.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of research reports. Royal Bank of Canada lifted their price objective on shares of RTX from $140.00 to $150.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. UBS Group raised RTX from a "neutral" rating to a "buy" rating in a report on Monday, March 24th. Argus raised shares of RTX from a "hold" rating to a "buy" rating in a research note on Tuesday, February 11th. Wells Fargo & Company increased their target price on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a "hold" rating to a "buy" rating and increased their target price for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Four research 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $165.27.

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.