Cyndeo Wealth Partners LLC Has $3.55 Million Stake in RTX Co. (NYSE:RTX)

Cyndeo Wealth Partners LLC reduced its holdings in RTX Co. (NYSE:RTX) by 38.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,311 shares of the company’s stock after selling 18,246 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in RTX were worth $3,551,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in RTX. Briaud Financial Planning Inc increased its position in RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the period. Lynx Investment Advisory acquired a new stake in shares of RTX in the second quarter worth $26,000. Mizuho Securities Co. Ltd. bought a new position in RTX during the second quarter worth $32,000. Fairfield Financial Advisors LTD acquired a new position in RTX during the 2nd quarter valued at $41,000. Finally, ORG Wealth Partners LLC bought a new stake in RTX in the 3rd quarter valued at $50,000. 86.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price objective on shares of RTX from $102.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. The Goldman Sachs Group lifted their price objective on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research report on Tuesday, July 30th. Finally, StockNews.com raised RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, RTX has an average rating of “Hold” and an average price target of $162.50.

Insiders Place Their Bets

In related news, VP Kevin G. Dasilva sold 8,166 shares of RTX stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.96, for a total value of $938,763.36. Following the completion of the transaction, the vice president now directly owns 45,208 shares of the company’s stock, valued at $5,197,111.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Kevin G. Dasilva sold 8,166 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $114.96, for a total value of $938,763.36. Following the completion of the sale, the vice president now owns 45,208 shares of the company’s stock, valued at $5,197,111.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now directly owns 566,723 shares in the company, valued at approximately $66,725,966.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 178,333 shares of company stock valued at $20,861,880. 0.13% of the stock is currently owned by corporate insiders.

RTX Trading Up 0.1 %

Shares of RTX stock opened at $125.92 on Friday. RTX Co. has a 12-month low of $72.48 and a 12-month high of $127.00. The stock has a market capitalization of $167.41 billion, a P/E ratio of 49.38, a price-to-earnings-growth ratio of 2.21 and a beta of 0.82. The company has a 50-day simple moving average of $120.91 and a 200 day simple moving average of $110.46. 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 for the quarter, topping the consensus estimate of $1.30 by $0.11. The company had revenue of $19.72 billion during 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 company’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $1.29 earnings per share. Research analysts expect that RTX Co. will post 5.45 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a yield of 2.00%. RTX’s payout ratio is 98.82%.

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.