Atlantic Union Bankshares Corp Has $9.45 Million Stock Holdings in RTX Co. (NYSE:RTX)

Atlantic Union Bankshares Corp cut its holdings in RTX Co. (NYSE:RTX) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 81,633 shares of the company’s stock after selling 1,324 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in RTX were worth $9,446,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new stake in RTX in the third quarter worth about $29,000. Western Pacific Wealth Management LP acquired a new stake in RTX in the third quarter worth about $41,000. Modus Advisors LLC acquired a new stake in RTX in the fourth quarter worth about $39,000. Comprehensive Financial Planning Inc. PA acquired a new stake in RTX in the fourth quarter worth about $40,000. Finally, Iron Horse Wealth Management LLC increased its position in RTX by 296.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after purchasing an additional 279 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RTX has been the subject of a number of research reports. Vertical Research upgraded RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Royal Bank of Canada raised their target price on RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft upgraded RTX from a “hold” rating to a “buy” rating and raised their target price for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Finally, Wells Fargo & Company raised their target price on RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, RTX has an average rating of “Moderate Buy” and a consensus target price of $163.40.

Insiders Place Their Bets

In related news, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now directly owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the transaction, the chief financial officer now directly owns 59,556 shares in the company, valued at $7,763,124.60. The trade was a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock valued at $10,309,302 in the last 90 days. 0.13% of the stock is currently owned by insiders.

RTX Stock Up 0.3 %

Shares of RTX stock opened at $128.63 on Friday. The business’s 50 day simple moving average is $123.78 and its 200 day simple moving average is $121.70. RTX Co. has a 52-week low of $89.44 and a 52-week high of $135.36. The firm has a market cap of $171.35 billion, a PE ratio of 36.23, a P/E/G ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio (DPR) is 70.99%.

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.