Financial Partners Group LLC Sells 4,734 Shares of RTX Corporation (NYSE:RTX)

Financial Partners Group LLC decreased its position in RTX Corporation (NYSE:RTX - Free Report) by 43.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund 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 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Cornerstone Wealth Management LLC raised its stake in shares of RTX by 2.6% in the first quarter. Cornerstone Wealth Management LLC now owns 54,093 shares of the company's stock valued at $7,165,000 after acquiring an additional 1,361 shares during the last quarter. Shepherd Financial Partners LLC raised its position in RTX by 1.7% in the 1st quarter. Shepherd Financial Partners LLC now owns 48,750 shares of the company's stock valued at $6,457,000 after purchasing an additional 812 shares during the last quarter. Hemenway Trust Co LLC boosted its stake in RTX by 4.2% in the first quarter. Hemenway Trust Co LLC now owns 260,628 shares of the company's stock worth $34,523,000 after purchasing an additional 10,518 shares in the last quarter. Creative Capital Management Investments LLC grew its holdings in shares of RTX by 4.3% during the first quarter. Creative Capital Management Investments LLC now owns 6,582 shares of the company's stock worth $872,000 after purchasing an additional 273 shares during the last quarter. Finally, Planning Center Inc. acquired a new stake in shares of RTX in the first quarter valued at $246,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on RTX. Wells Fargo & Company increased their price objective on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a report on Tuesday, April 15th. Royal Bank Of Canada decreased their price target on shares of RTX from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Susquehanna dropped their price objective on shares of RTX from $147.00 to $140.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Cowen reaffirmed a "buy" rating on shares of RTX in a report on Friday, May 23rd. Finally, Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 target price for the company in a research note on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, RTX presently has a consensus rating of "Buy" and a consensus price target of $159.82.

RTX Stock Performance

Shares of NYSE:RTX opened at $148.50 on Wednesday. The firm's 50 day simple moving average is $132.34 and its 200 day simple moving average is $126.91. RTX Corporation has a fifty-two week low of $99.07 and a fifty-two week high of $149.56. The company has a market capitalization of $198.39 billion, a price-to-earnings ratio of 43.55, a P/E/G ratio of 2.65 and a beta of 0.63. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75.

RTX (NYSE:RTX - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The company had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. As a group, sell-side analysts forecast that RTX Corporation will post 6.11 earnings per share for the current 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 paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.83%. This is a boost from RTX's previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. RTX's payout ratio is presently 79.77%.

Insider Transactions at RTX

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

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.

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