Cyndeo Wealth Partners LLC Reduces Holdings in RTX Co. (NYSE:RTX)

Cyndeo Wealth Partners LLC decreased its position in shares of RTX Co. (NYSE:RTX) by 8.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,139 shares of the company’s stock after selling 2,407 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in RTX were worth $3,595,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in RTX. National Pension Service grew its holdings in shares of RTX by 15.1% during the fourth quarter. National Pension Service now owns 2,859,573 shares of the company’s stock worth $330,910,000 after buying an additional 375,781 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of RTX by 46.0% during the fourth quarter. Deutsche Bank AG now owns 2,973,342 shares of the company’s stock worth $344,075,000 after buying an additional 936,953 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new position in shares of RTX during the fourth quarter worth about $3,356,000. Thoroughbred Financial Services LLC grew its holdings in shares of RTX by 43.5% during the fourth quarter. Thoroughbred Financial Services LLC now owns 26,329 shares of the company’s stock worth $3,046,000 after buying an additional 7,987 shares during the last quarter. Finally, Teewinot Capital Advisers L.L.C. grew its holdings in shares of RTX by 188.6% during the fourth quarter. Teewinot Capital Advisers L.L.C. now owns 605,150 shares of the company’s stock worth $70,028,000 after buying an additional 395,434 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Buying and Selling

In related news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president now directly owns 9,546 shares in the company, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of RTX stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the transaction, the executive vice president now owns 16,538 shares of the company’s stock, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RTX shares. Wall Street Zen raised RTX from a “hold” rating to a “buy” rating in a report on Thursday, April 24th. Wells Fargo & Company lifted their price objective on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a report on Tuesday, April 15th. Cowen reaffirmed a “buy” rating on shares of RTX in a report on Friday, May 23rd. Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, UBS Group lifted their price objective on RTX from $133.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $159.82.

RTX Price Performance

RTX stock opened at $145.47 on Monday. The firm has a 50 day moving average of $131.41 and a 200-day moving average of $126.58. RTX Co. has a 12-month low of $99.07 and a 12-month high of $149.10. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. The company has a market cap of $194.34 billion, a price-to-earnings ratio of 40.98, a PEG ratio of 2.11 and a beta of 0.63.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.91% and a return on equity of 12.45%. The company had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. As a group, equities analysts expect that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were given a dividend of $0.68 per share. This is an increase from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, May 23rd. RTX’s payout ratio is currently 79.77%.

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.