Strategic Financial Services Inc. Has $344,000 Stake in RTX Co. (NYSE:RTX)

Strategic Financial Services Inc. trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 5.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the stock. Avior Wealth Management LLC increased its position in shares of RTX by 1.4% during the 3rd quarter. Avior Wealth Management LLC now owns 8,134 shares of the company’s stock valued at $980,000 after purchasing an additional 114 shares during the last quarter. Prospera Private Wealth LLC boosted its holdings in RTX by 197.5% in the 3rd quarter. Prospera Private Wealth LLC now owns 7,601 shares of the company’s stock valued at $921,000 after purchasing an additional 5,046 shares during the period. Segall Bryant & Hamill LLC grew its position in RTX by 20.7% during the third quarter. Segall Bryant & Hamill LLC now owns 118,758 shares of the company’s stock worth $14,389,000 after buying an additional 20,385 shares in the last quarter. Sachetta LLC grew its holdings in shares of RTX by 34.3% during the third quarter. Sachetta LLC now owns 13,647 shares of the company’s stock worth $1,653,000 after purchasing an additional 3,485 shares in the last quarter. Finally, Northwest Bancshares Inc. bought a new position in shares of RTX in the 3rd quarter worth $902,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RTX shares. Bank of America increased their target price on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Royal Bank of Canada lifted their target price 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. Citigroup raised RTX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and raised their price objective for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company upped their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $166.40.

RTX Stock Performance

Shares of RTX stock opened at $135.47 on Thursday. The company has a market capitalization of $180.86 billion, a P/E ratio of 38.16, a P/E/G ratio of 2.11 and a beta of 0.78. The business’s 50 day moving average is $126.43 and its two-hundred day moving average is $122.39. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a 12-month low of $94.08 and a 12-month high of $136.01.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping 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%. Analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the sale, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the firm’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 value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly owns 81,508 shares of the company’s stock, 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. In the last 90 days, insiders have sold 79,831 shares of company stock valued at $10,309,302. Corporate insiders own 0.15% of the company’s stock.

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.