Beacon Financial Group Trims Stock Position in RTX Co. (NYSE:RTX)

Beacon Financial Group cut its position in shares of RTX Co. (NYSE:RTX) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,413 shares of the company’s stock after selling 125 shares during the period. Beacon Financial Group’s holdings in RTX were worth $1,089,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its stake in shares of RTX by 545.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock valued at $286,845,000 after acquiring an additional 2,094,834 shares during the period. International Assets Investment Management LLC raised its stake in shares of RTX by 11,235.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock valued at $206,095,000 after acquiring an additional 1,686,007 shares during the period. Jennison Associates LLC raised its stake in shares of RTX by 190.7% in the 4th quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock valued at $175,202,000 after acquiring an additional 993,273 shares during the period. Fisher Asset Management LLC raised 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 valued at $2,238,004,000 after acquiring an additional 852,183 shares during the period. Finally, Janus Henderson Group PLC raised its stake in shares of RTX by 256.6% in the 3rd quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock valued at $118,309,000 after acquiring an additional 702,699 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the sale, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. This represents a 24.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

RTX has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price target on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and upped their target price for the stock from $131.00 to $140.00 in a research note on Thursday, January 2nd. Morgan Stanley upped their target price on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada upped their target price on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Finally, Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.07.

RTX Trading Down 1.8 %

Shares of RTX stock opened at $126.82 on Thursday. The company has a fifty day simple moving average of $120.55 and a 200-day simple moving average of $120.53. RTX Co. has a 12-month low of $88.90 and a 12-month high of $132.43. 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 stock has a market cap of $168.94 billion, a price-to-earnings ratio of 35.72, a PEG ratio of 2.17 and a beta of 0.82.

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

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is 70.99%.

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.