Sanibel Captiva Trust Company Inc. Buys 1,818 Shares of RTX Co. (NYSE:RTX)

Sanibel Captiva Trust Company Inc. lifted its stake in shares of RTX Co. (NYSE:RTX) by 1.5% during the first quarter, HoldingsChannel.com reports. The firm owned 126,524 shares of the company’s stock after purchasing an additional 1,818 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in RTX were worth $16,759,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. grew its stake in RTX by 0.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 12,110 shares of the company’s stock valued at $1,401,000 after acquiring an additional 79 shares in the last quarter. Fusion Capital LLC grew its position in shares of RTX by 0.5% during 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 in the last quarter. McDonough Capital Management Inc grew its position in shares of RTX by 1.6% during 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 in the last quarter. New England Professional Planning Group Inc. increased its holdings in shares of RTX by 3.8% in the fourth quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock worth $253,000 after purchasing an additional 81 shares during the period. Finally, Pointe Capital Management LLC raised its position in shares of RTX by 0.5% in the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock worth $2,047,000 after buying an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling

In other news, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the sale, the executive vice president now owns 16,538 shares in the company, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president now directly owns 9,546 shares in the company, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.

RTX Stock Performance

Shares of NYSE RTX opened at $140.94 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average of $129.78 and a 200 day moving average of $125.98. The firm has a market capitalization of $188.29 billion, a price-to-earnings ratio of 39.70, a price-to-earnings-growth ratio of 2.11 and a beta of 0.63. RTX Co. has a 12-month low of $99.07 and a 12-month high of $141.33.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The business had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. On average, research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.68 per share. The ex-dividend date is Friday, May 23rd. This is a positive change from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.93%. RTX’s dividend payout ratio (DPR) is 79.77%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. decreased their target price on RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Cowen restated a “buy” rating on shares of RTX in a research report on Friday, May 23rd. Citigroup dropped their target price on shares of RTX from $153.00 to $148.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. DZ Bank raised shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price target for the company in a research note on Friday, April 25th. Finally, Wells Fargo & Company raised their price objective on shares of RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $159.82.

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.