Central Pacific Bank Trust Division Cuts Stock Holdings in RTX Co. (NYSE:RTX)

Central Pacific Bank Trust Division cut its holdings in RTX Co. (NYSE:RTX) by 7.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,090 shares of the company’s stock after selling 2,414 shares during the quarter. Central Pacific Bank Trust Division’s holdings in RTX were worth $3,366,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of RTX by 1.9% in the third quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after acquiring an additional 508,344 shares during the period. Fisher Asset Management LLC lifted its stake in shares of RTX by 4.8% in the 3rd quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after purchasing an additional 852,183 shares during the period. Legal & General Group Plc grew its position in RTX by 4.4% during the second quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after buying an additional 362,340 shares during the period. Ameriprise Financial Inc. increased its stake in shares of RTX by 5.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock worth $831,740,000 after purchasing an additional 408,551 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of RTX by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,444,471 shares of the company’s stock worth $747,347,000 after buying an additional 417,789 shares during the period. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Price Performance

Shares of NYSE RTX traded down $0.08 during mid-day trading on Friday, hitting $115.93. 1,116,349 shares of the company’s stock traded hands, compared to its average volume of 2,133,094. The company has a market capitalization of $154.30 billion, a P/E ratio of 33.12, a PEG ratio of 2.08 and a beta of 0.80. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The company’s 50-day moving average is $119.05 and its two-hundred day moving average is $116.35. RTX Co. has a 1 year low of $84.43 and a 1 year high of $128.70.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion during the quarter, compared to analysts’ expectations of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.25 EPS. On average, equities analysts anticipate that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Friday, November 15th. RTX’s dividend payout ratio is presently 72.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Susquehanna increased their target price on shares of RTX from $140.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, October 23rd. UBS Group raised their price objective on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company raised shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Morgan Stanley boosted their price objective on RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada upgraded RTX from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $130.00 to $140.00 in a research report on Thursday, December 19th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $178.67.

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.