Financial Partners Group LLC Has $822,000 Position in RTX Corporation (NYSE:RTX)

Financial Partners Group LLC cut its position in shares of RTX Corporation (NYSE:RTX) by 43.3% during the 1st quarter, Holdings Channel reports. The firm owned 6,206 shares of the company’s stock after selling 4,734 shares during the quarter. Financial Partners Group LLC’s holdings in RTX were worth $822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. 10Elms LLP bought a new position in shares of RTX during the 4th quarter worth approximately $29,000. Fairway Wealth LLC acquired a new stake in RTX during the 4th quarter valued at $31,000. Picton Mahoney Asset Management boosted its position in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after purchasing an additional 265 shares during the period. Greenline Partners LLC acquired a new position in shares of RTX in the fourth quarter valued at $34,000. Finally, Millstone Evans Group LLC bought a new position in shares of RTX in the fourth quarter valued at about $39,000. 86.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, VP Amy L. Johnson sold 4,146 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president now owns 9,546 shares in the company, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the transaction, the executive vice president now owns 16,538 shares of the company’s stock, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

RTX Stock Performance

Shares of RTX stock opened at $148.50 on Wednesday. The company has a 50 day moving average of $132.34 and a 200-day moving average of $126.91. The company has a market cap of $198.39 billion, a PE ratio of 43.55, a price-to-earnings-growth ratio of 2.65 and a beta of 0.63. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a 1-year low of $99.07 and a 1-year high of $149.56.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.71% and a net margin of 5.63%. The firm had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. As a group, equities research analysts forecast that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Friday, May 23rd. This is a boost from RTX’s previous quarterly dividend of $0.63. RTX’s payout ratio is currently 79.77%.

Analysts Set New Price Targets

A number of brokerages recently commented on RTX. Susquehanna decreased their price target on shares of RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a research note on Wednesday, April 23rd. Benchmark raised RTX from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Wednesday, May 14th. JPMorgan Chase & Co. lowered their target price on RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Cowen restated a “buy” rating on shares of RTX in a research note on Friday, May 23rd. Finally, Robert W. Baird upgraded RTX from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $159.82.

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.