Cyndeo Wealth Partners LLC Sells 18,246 Shares of RTX Co. (NYSE:RTX)

Cyndeo Wealth Partners LLC lowered its stake in shares of RTX Co. (NYSE:RTX) by 38.4% during the third quarter, Holdings Channel.com reports. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Manning & Napier Advisors LLC acquired a new position in RTX during the second quarter valued at approximately $30,837,000. Capital Advisors Ltd. LLC boosted its position in shares of RTX by 7.3% during the first quarter. Capital Advisors Ltd. LLC now owns 2,451 shares of the company’s stock worth $239,000 after buying an additional 166 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in shares of RTX by 126.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock worth $17,134,000 after buying an additional 98,248 shares in the last quarter. &PARTNERS raised its position in RTX by 64.7% in the 1st quarter. &PARTNERS now owns 5,991 shares of the company’s stock valued at $584,000 after buying an additional 2,353 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in RTX by 174.0% during the 1st quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock worth $35,646,000 after acquiring an additional 232,103 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction that occurred 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 sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at approximately $66,725,966.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Dantaya M. Williams sold 17,570 shares of RTX stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $114.87, for a total transaction of $2,018,265.90. Following the completion of the sale, the executive vice president now owns 38,855 shares of the company’s stock, valued at $4,463,273.85. This trade 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 owned by insiders.

RTX Stock Performance

Shares of NYSE RTX 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 50 day moving average of $120.91 and a 200-day moving average of $110.46. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $167.41 billion, a P/E ratio of 49.38, a P/E/G ratio of 2.21 and a beta of 0.82.

RTX (NYSE:RTX) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.11. The firm had revenue of $19.72 billion during the quarter, compared to analysts’ expectations of $19.29 billion. RTX had a net margin of 3.12% and a return on equity of 11.37%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.29 earnings per share. As a group, equities research analysts predict that RTX Co. will post 5.45 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio is presently 98.82%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RTX shares. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Friday, September 6th. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Alembic Global Advisors upgraded shares of RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research note on Tuesday, July 30th. Susquehanna lifted their target price on RTX from $119.00 to $140.00 and gave the company a “positive” rating in a research report on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft raised RTX from a “sell” rating to a “hold” rating and increased their price target for the company from $109.00 to $129.00 in a research report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, RTX currently has an average rating of “Hold” and a consensus target price of $162.50.

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.