Parkside Financial Bank & Trust Buys 2,181 Shares of RTX Co. (NYSE:RTX)

Parkside Financial Bank & Trust raised its stake in RTX Co. (NYSE:RTX) by 21.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,245 shares of the company’s stock after buying an additional 2,181 shares during the period. Parkside Financial Bank & Trust’s holdings in RTX were worth $1,030,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC grew its position in shares of RTX by 26.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock valued at $10,077,000 after buying an additional 28,910 shares during the last quarter. Rockline Wealth Management LLC bought a new stake in RTX during the fourth quarter valued at $2,438,000. B&D White Capital Company LLC bought a new position in shares of RTX in the 3rd quarter worth about $14,186,000. PDS Planning Inc acquired a new position in shares of RTX in the 4th quarter valued at about $356,000. Finally, Cullen Investment Group LTD. bought a new stake in shares of RTX during the 4th quarter valued at about $843,000. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Performance

Shares of RTX stock traded down $1.09 during trading hours on Wednesday, hitting $100.29. 3,127,583 shares of the company’s stock traded hands, compared to its average volume of 8,198,333. The stock has a market capitalization of $133.35 billion, a price-to-earnings ratio of 45.07, a PEG ratio of 1.85 and a beta of 0.88. RTX Co. has a 12-month low of $68.56 and a 12-month high of $103.89. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 0.78. The company has a fifty day simple moving average of $94.97 and a 200-day simple moving average of $87.12.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The business had revenue of $19.30 billion during the quarter, compared to the consensus estimate of $18.44 billion. RTX had a net margin of 4.64% and a return on equity of 10.34%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.22 earnings per share. Equities research analysts anticipate that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio (DPR) is 105.36%.

Insiders Place Their Bets

In other news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the sale, the insider now directly owns 6,741 shares in the company, valued at approximately $614,711.79. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the transaction, the insider now owns 6,741 shares in the company, valued at $614,711.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.36, for a total value of $142,696.20. Following the sale, the chief financial officer now owns 49,894 shares of the company’s stock, valued at $4,608,209.84. The disclosure for this sale can be found here. Insiders sold 37,785 shares of company stock valued at $3,448,188 over the last ninety days. 0.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on RTX shares. Bank of America upgraded RTX from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $78.00 to $100.00 in a report on Thursday, January 25th. Royal Bank of Canada lifted their price target on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. TheStreet upgraded RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Robert W. Baird upped their price target on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Barclays boosted their price objective on RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, RTX currently has an average rating of “Hold” and an average price target of $94.00.

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.