Convergence Financial LLC Lowers Holdings in RTX Co. (NYSE:RTX)

Convergence Financial LLC reduced its position in shares of RTX Co. (NYSE:RTX) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,980 shares of the company’s stock after selling 189 shares during the period. Convergence Financial LLC’s holdings in RTX were worth $576,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Whipplewood Advisors LLC acquired a new stake in RTX in the 4th quarter valued at approximately $180,000. Simmons Bank raised its stake in RTX by 6.1% during the 4th quarter. Simmons Bank now owns 29,599 shares of the company’s stock valued at $3,425,000 after acquiring an additional 1,695 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of RTX by 0.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 114,122 shares of the company’s stock valued at $13,206,000 after acquiring an additional 311 shares in the last quarter. Pointe Capital Management LLC lifted its holdings in RTX by 0.5% in the fourth quarter. Pointe Capital Management LLC now owns 17,691 shares of the company’s stock valued at $2,047,000 after acquiring an additional 81 shares during the period. Finally, Checchi Capital Advisers LLC grew its holdings in shares of RTX by 1.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 14,666 shares of the company’s stock worth $1,697,000 after acquiring an additional 141 shares during the period. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the transaction, the insider now directly owns 5,272 shares in the company, valued at approximately $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

RTX Stock Performance

Shares of RTX stock opened at $127.30 on Thursday. The firm has a 50-day moving average of $122.09 and a 200-day moving average of $121.17. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a one year low of $88.95 and a one year high of $132.43. The company has a market cap of $169.58 billion, a P/E ratio of 35.86, a P/E/G ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts forecast that RTX Co. will post 6.11 EPS 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 paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.98%. RTX’s dividend payout ratio (DPR) is 70.99%.

Analyst Upgrades and Downgrades

Several research firms have commented on RTX. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Susquehanna raised their price target on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Wells Fargo & Company raised their price target on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $142.00 to $147.00 in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and upped their target price for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, RTX currently has an average rating of “Moderate Buy” and a consensus price target of $163.40.

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.