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

Beacon Financial Group decreased its holdings in RTX Co. (NYSE:RTX) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,413 shares of the company’s stock after selling 125 shares during the quarter. Beacon Financial Group’s holdings in RTX were worth $1,089,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in shares of RTX by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock valued at $3,290,622,000 after purchasing an additional 508,344 shares in the last quarter. Fisher Asset Management LLC increased its holdings 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 purchasing an additional 852,183 shares in the last quarter. FMR LLC increased its holdings in shares of RTX by 8.7% in the 3rd quarter. FMR LLC now owns 6,102,848 shares of the company’s stock valued at $739,421,000 after purchasing an additional 490,109 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in RTX by 2.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,886,614 shares of the company’s stock valued at $713,222,000 after acquiring an additional 140,697 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in RTX by 0.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,963,067 shares of the company’s stock valued at $342,886,000 after acquiring an additional 25,407 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s 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 transaction, the executive vice president now owns 44,415 shares in the company, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.13% of the stock is currently owned by insiders.

RTX Price Performance

RTX opened at $126.82 on Thursday. The company’s 50 day simple moving average is $120.55 and its 200 day simple moving average is $120.53. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a 1 year low of $88.90 and a 1 year high of $132.43. The stock has a market capitalization of $168.94 billion, a PE ratio of 35.72, a P/E/G ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last released its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

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

Analysts Set New Price Targets

RTX has been the topic of a number of research reports. Royal Bank of Canada increased their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Barclays increased their price objective 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. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, UBS Group raised their price target on shares of RTX from $128.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, RTX has a consensus rating of “Moderate Buy” and a consensus target price of $163.07.

About RTX

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.