Strategic Financial Services Inc. Decreases Position in RTX Co. (NYSE:RTX)

Strategic Financial Services Inc. lowered its holdings in RTX Co. (NYSE:RTX) by 5.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,971 shares of the company’s stock after selling 180 shares during the period. Strategic Financial Services Inc.’s holdings in RTX were worth $344,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RTX. Fusion Capital LLC lifted its holdings in RTX by 0.5% during the 4th quarter. Fusion Capital LLC now owns 15,156 shares of the company’s stock worth $1,754,000 after purchasing an additional 80 shares in the last quarter. McDonough Capital Management Inc grew its position in RTX by 1.6% in the fourth quarter. McDonough Capital Management Inc now owns 5,215 shares of the company’s stock worth $603,000 after acquiring an additional 80 shares in the last quarter. New England Professional Planning Group Inc. raised its holdings in shares of RTX by 3.8% during the 4th quarter. New England Professional Planning Group Inc. now owns 2,187 shares of the company’s stock valued at $253,000 after buying an additional 81 shares in the last quarter. Pointe Capital Management LLC lifted its holdings in shares of RTX by 0.5% in the 4th quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock worth $2,047,000 after acquiring an additional 81 shares during the last quarter. Finally, Avestar Capital LLC grew its stake in shares of RTX by 0.6% during the third quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock valued at $1,752,000 after buying an additional 85 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Up 2.1 %

RTX opened at $135.47 on Thursday. The firm has a market cap of $180.86 billion, a P/E ratio of 38.16, a PEG ratio of 2.11 and a beta of 0.78. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a 52 week low of $94.08 and a 52 week high of $136.01. The business’s fifty day simple moving average is $126.43 and its 200 day simple moving average is $122.39.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities research analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s dividend payout ratio is presently 70.99%.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now directly owns 81,508 shares in the company, valued at $10,625,382.88. The trade was a 25.14 % 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 over the last three months. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RTX shares. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the company from $142.00 to $147.00 in a report on Monday, February 24th. Wells Fargo & Company boosted their target price on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Citigroup raised RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $136.00 to $160.00 in a report on Wednesday. Finally, StockNews.com downgraded shares of RTX from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $166.40.

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.