M&T Bank Corp Has $52.65 Million Holdings in RTX Co. (NYSE:RTX)

M&T Bank Corp trimmed its stake in RTX Co. (NYSE:RTX) by 9.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 625,761 shares of the company’s stock after selling 63,872 shares during the period. M&T Bank Corp’s holdings in RTX were worth $52,652,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC boosted its holdings in RTX by 26.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock valued at $10,077,000 after acquiring an additional 28,910 shares during the last quarter. Mather Group LLC. lifted its position in shares of RTX by 8.5% in the 4th quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock worth $1,153,000 after purchasing an additional 1,079 shares during the period. Rockline Wealth Management LLC bought a new stake in shares of RTX in the 4th quarter valued at $2,438,000. B&D White Capital Company LLC acquired a new stake in shares of RTX during the third quarter worth $14,186,000. Finally, PDS Planning Inc bought a new position in RTX during the fourth quarter worth $356,000. 86.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Shane G. Eddy sold 35,456 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Gregory Hayes sold 89,762 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total value of $9,105,457.28. Following the transaction, the chief executive officer now owns 636,759 shares in the company, valued at $64,592,832.96. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now directly owns 6,741 shares of the company’s stock, valued at $614,711.79. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,842 shares of company stock valued at $13,603,426. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of recent analyst reports. TD Cowen increased their price target on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Royal Bank of Canada lifted their target price on RTX from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. Susquehanna increased their price target on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. Citigroup lifted their price objective on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, UBS Group increased their target price on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, RTX presently has a consensus rating of “Hold” and an average target price of $96.93.

RTX Stock Down 0.5 %

RTX traded down $0.49 during mid-day trading on Friday, reaching $101.40. 13,324,869 shares of the stock were exchanged, compared to its average volume of 7,489,805. The company has a 50 day moving average price of $96.70 and a two-hundred day moving average price of $88.49. The stock has a market capitalization of $134.81 billion, a PE ratio of 39.76, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. RTX Co. has a 1 year low of $68.56 and a 1 year high of $103.89.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The business had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. During the same period in the previous year, the company earned $1.22 earnings per share. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, research analysts anticipate that RTX Co. will post 5.4 EPS for the current year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Friday, May 17th will be issued a dividend of $0.63 per share. This is a positive change from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, May 16th. RTX’s dividend payout ratio (DPR) is 92.55%.

RTX 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.