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

Focus Financial Network Inc. increased its stake in RTX Co. (NYSE:RTX) by 25.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,500 shares of the company’s stock after purchasing an additional 1,526 shares during the quarter. Focus Financial Network Inc.’s holdings in RTX were worth $787,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in RTX. Lynx Investment Advisory acquired a new stake in RTX in the 2nd quarter valued at about $26,000. Tennessee Valley Asset Management Partners acquired a new stake in RTX in the 4th quarter valued at about $38,000. Fairman Group LLC acquired a new stake in shares of RTX during the 4th quarter worth about $38,000. Beaird Harris Wealth Management LLC boosted its stake in shares of RTX by 42.2% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock worth $39,000 after purchasing an additional 139 shares during the last quarter. Finally, USA Financial Formulas boosted its stake in shares of RTX by 510.3% during the 4th quarter. USA Financial Formulas now owns 476 shares of the company’s stock worth $40,000 after purchasing an additional 398 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

RTX has been the topic of several analyst reports. UBS Group raised their price target on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Robert W. Baird raised their target price on shares of RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Barclays raised their target price on shares of RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Alembic Global Advisors raised shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 target price on the stock in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company decreased their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $153.47.

RTX Stock Down 0.3 %

Shares of RTX traded down $0.40 during mid-day trading on Tuesday, reaching $117.95. 5,710,162 shares of the stock traded hands, compared to its average volume of 7,286,884. The firm has a market cap of $156.90 billion, a price-to-earnings ratio of 46.26, a P/E/G ratio of 2.08 and a beta of 0.82. The stock has a fifty day simple moving average of $107.61 and a 200 day simple moving average of $101.59. RTX Co. has a 12-month low of $68.56 and a 12-month high of $118.99. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

RTX (NYSE:RTX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. The company had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.29 earnings per share. Sell-side analysts expect that RTX Co. will post 5.44 EPS for the current fiscal year.

RTX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Friday, August 16th. RTX’s payout ratio is currently 98.82%.

Insider Transactions at RTX

In other news, insider Shane G. Eddy sold 6,741 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Shane G. Eddy sold 6,741 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the transaction, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by corporate insiders.

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.