Syntax Research Inc. Lowers Holdings in RTX Co. (NYSE:RTX)

Syntax Research Inc. reduced its stake in RTX Co. (NYSE:RTX) by 8.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,457 shares of the company’s stock after selling 484 shares during the period. Syntax Research Inc.’s holdings in RTX were worth $661,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Briaud Financial Planning Inc increased its stake in RTX by 64.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of RTX during the third quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. purchased a new position in RTX in the 2nd quarter worth approximately $32,000. Fairfield Financial Advisors LTD bought a new position in RTX in the 2nd quarter valued at approximately $41,000. Finally, Western Pacific Wealth Management LP purchased a new stake in RTX during the 3rd quarter valued at $41,000. 86.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on RTX shares. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Royal Bank of Canada boosted their target price on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. UBS Group upped their target price on shares of RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Citigroup lifted their price target on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $177.27.

RTX Stock Down 0.6 %

NYSE RTX opened at $117.42 on Wednesday. RTX Co. has a 52 week low of $80.36 and a 52 week high of $128.70. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $156.29 billion, a P/E ratio of 33.55, a price-to-earnings-growth ratio of 2.08 and a beta of 0.80. The stock’s 50-day moving average price is $121.23 and its 200-day moving average price is $115.71.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.11. The business had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 earnings per share. On average, equities research analysts predict that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were paid a $0.63 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.15%. RTX’s payout ratio is presently 72.00%.

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.