Financial Partners Group LLC Makes New Investment in RTX Co. (NYSE:RTX)

Financial Partners Group LLC purchased a new position in shares of RTX Co. (NYSE:RTX) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 9,082 shares of the company’s stock, valued at approximately $1,100,000.

A number of other institutional investors and hedge funds have also modified their holdings of RTX. Manning & Napier Advisors LLC bought a new stake in shares of RTX during the 2nd quarter valued at $30,837,000. Capital Advisors Ltd. LLC grew its stake in shares of RTX by 7.3% during the first quarter. Capital Advisors Ltd. LLC now owns 2,451 shares of the company’s stock worth $239,000 after purchasing an additional 166 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in RTX by 126.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock valued at $17,134,000 after purchasing an additional 98,248 shares during the last quarter. Cetera Investment Advisers boosted its holdings in RTX by 174.0% during the first quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock worth $35,646,000 after buying an additional 232,103 shares during the last quarter. Finally, Susquehanna International Securities Ltd. acquired a new position in shares of RTX during the 2nd quarter worth about $602,000. 86.50% of the stock is owned by institutional investors.

Insider Buying and Selling at RTX

In other news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, VP Amy L. Johnson sold 6,734 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $113.88, for a total value of $766,867.92. Following the completion of the sale, the vice president now directly owns 12,318 shares of the company’s stock, valued at $1,402,773.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 145,856 shares of company stock worth $17,131,253 over the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. The Goldman Sachs Group lifted their price target on shares of RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Melius Research upped their price objective on shares of RTX from $490.00 to $493.00 in a research report on Wednesday, July 24th. TD Cowen upgraded RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price target for the company in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $168.56.

RTX Price Performance

Shares of RTX opened at $125.18 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. RTX Co. has a twelve month low of $77.76 and a twelve month high of $128.70. The stock has a market capitalization of $166.52 billion, a P/E ratio of 35.77, a P/E/G ratio of 2.21 and a beta of 0.82. The company has a 50 day moving average of $121.59 and a 200-day moving average of $111.12.

RTX (NYSE:RTX) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities research analysts forecast that RTX Co. will post 5.5 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.01%. RTX’s dividend payout ratio (DPR) is presently 72.00%.

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.