Focus Financial Network Inc. Cuts Stock Position in RTX Co. (NYSE:RTX)

Focus Financial Network Inc. decreased its stake in shares of RTX Co. (NYSE:RTX) by 9.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,731 shares of the company’s stock after selling 727 shares during the quarter. Focus Financial Network Inc.’s holdings in RTX were worth $779,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in RTX. Avestar Capital LLC lifted its stake in RTX by 0.6% in the third quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock worth $1,752,000 after purchasing an additional 85 shares during the last quarter. Arbor Wealth Advisors LLC raised its holdings in shares of RTX by 3.7% in the fourth quarter. Arbor Wealth Advisors LLC now owns 2,382 shares of the company’s stock worth $276,000 after buying an additional 85 shares during the period. Moloney Securities Asset Management LLC lifted its stake in shares of RTX by 0.7% during the 4th quarter. Moloney Securities Asset Management LLC now owns 12,798 shares of the company’s stock worth $1,481,000 after acquiring an additional 85 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC boosted its holdings in RTX by 20.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock valued at $62,000 after acquiring an additional 86 shares during the period. Finally, Blackston Financial Advisory Group LLC grew its position in RTX by 3.7% in the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock valued at $291,000 after acquiring an additional 86 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

RTX Price Performance

RTX opened at $126.82 on Thursday. The firm has a market capitalization of $168.94 billion, a PE ratio of 35.72, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The business’s 50-day moving average is $120.55 and its two-hundred day moving average is $120.53. RTX Co. has a 1 year low of $88.90 and a 1 year high of $132.43.

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

RTX Dividend Announcement

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

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RTX. Barclays boosted their target price on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. UBS Group raised their target price on shares of RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Bank of America boosted their price target on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Argus upgraded RTX from a “hold” rating to a “buy” rating in a report on Tuesday. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, RTX presently has an average rating of “Moderate Buy” and an average price target of $163.07.

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.