Syon Capital LLC Increases Holdings in RTX Co. (NYSE:RTX)

Syon Capital LLC raised its holdings in shares of RTX Co. (NYSE:RTX) by 49.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,224 shares of the company’s stock after acquiring an additional 3,072 shares during the period. Syon Capital LLC’s holdings in RTX were worth $776,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RTX. Bear Mountain Capital Inc. bought a new position in RTX during the 4th quarter valued at approximately $25,000. Strengthening Families & Communities LLC bought a new position in RTX in the 3rd quarter valued at approximately $28,000. Planned Solutions Inc. bought a new position in shares of RTX during the 4th quarter valued at $30,000. Financial Gravity Asset Management Inc. raised its holdings in RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares during the period. Finally, Valley National Advisers Inc. increased its stake in RTX by 37.4% in the 3rd quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after buying an additional 127 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RTX has been the subject of a number of analyst reports. TheStreet upgraded RTX from a “c” rating to a “b-” rating in a research note on Tuesday, January 23rd. Citigroup raised their price objective on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday. Robert W. Baird lifted their price target on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Royal Bank of Canada lifted their price objective on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Monday, January 22nd. Finally, TD Cowen lifted their price target on shares of RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $96.27.

Insider Activity

In related news, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total transaction of $33,995.21. Following the sale, the chief operating officer now directly owns 56,707 shares in the company, valued at $5,252,769.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other RTX news, COO Christopher T. Calio sold 367 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the transaction, the chief operating officer now directly owns 56,707 shares of the company’s stock, valued at approximately $5,252,769.41. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ramsaran Maharajh sold 312 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.17, for a total value of $28,757.04. Following the transaction, the executive vice president now directly owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The disclosure for this sale can be found here. Insiders sold a total of 37,785 shares of company stock valued at $3,448,188 in the last three months. 0.13% of the stock is currently owned by corporate insiders.

RTX Price Performance

Shares of NYSE RTX traded down $0.30 during trading hours on Friday, reaching $101.41. 4,427,698 shares of the stock traded hands, compared to its average volume of 8,184,732. The company has a market capitalization of $134.83 billion, a P/E ratio of 39.73, a price-to-earnings-growth ratio of 1.84 and a beta of 0.88. RTX Co. has a 52-week low of $68.56 and a 52-week high of $103.89. The company’s 50-day simple moving average is $95.36 and its two-hundred day simple moving average is $87.31. The company has a quick ratio of 0.78, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.11. RTX had a net margin of 4.90% and a return on equity of 10.81%. The firm had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. During the same period in the previous year, the company earned $1.22 earnings per share. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. Equities research analysts forecast that RTX Co. will post 5.4 EPS for the current year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Thursday, February 22nd. RTX’s dividend payout ratio is presently 92.55%.

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.