RTX Co. (NYSE:RTX) Shares Sold by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC reduced its stake in RTX Co. (NYSE:RTX - Free Report) by 8.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,139 shares of the company's stock after selling 2,407 shares during the period. Cyndeo Wealth Partners LLC's holdings in RTX were worth $3,595,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RTX. Vanguard Group Inc. boosted its position in RTX by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock valued at $13,710,408,000 after buying an additional 1,252,448 shares during the period. Geode Capital Management LLC boosted its holdings in shares of RTX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock worth $3,263,610,000 after purchasing an additional 1,000,722 shares during the period. Fisher Asset Management LLC grew its stake in shares of RTX by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company's stock worth $2,204,198,000 after purchasing an additional 576,214 shares during the last quarter. Franklin Resources Inc. increased its holdings in RTX by 3.8% during the 4th quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock valued at $1,922,264,000 after purchasing an additional 603,159 shares during the period. Finally, Norges Bank bought a new position in shares of RTX during the fourth quarter valued at approximately $1,745,644,000. Institutional investors own 86.50% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RTX. JPMorgan Chase & Co. reduced their price objective on shares of RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Wall Street Zen upgraded shares of RTX from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. UBS Group raised their price objective on shares of RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Cowen reiterated a "buy" rating on shares of RTX in a report on Friday, May 23rd. Finally, Wells Fargo & Company raised their target price on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research note on Tuesday, April 15th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $159.82.

RTX Stock Performance

RTX stock traded up $0.74 during midday trading on Monday, hitting $146.43. The stock had a trading volume of 7,972,254 shares, compared to its average volume of 5,410,822. The firm's fifty day moving average is $131.41 and its two-hundred day moving average is $126.58. 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 capitalization of $195.62 billion, a PE ratio of 41.25, a P/E/G ratio of 2.11 and a beta of 0.63. RTX Co. has a 52-week low of $99.07 and a 52-week high of $149.10.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The business had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. On average, research analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were paid a $0.68 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.72 annualized dividend and a dividend yield of 1.86%. This is an increase from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio is currently 79.77%.

Insider Transactions at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the sale, the vice president now owns 9,546 shares of the company's stock, valued at approximately $1,217,496.84. The trade was a 30.28% 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 16,922 shares of RTX stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the sale, the executive vice president now directly owns 16,538 shares of the company's stock, valued at approximately $2,275,959.56. This trade represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

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.