Syntax Research Inc. Sells 484 Shares of RTX Co. (NYSE:RTX)

Syntax Research Inc. decreased its stake in shares of RTX Co. (NYSE:RTX) by 8.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,457 shares of the company’s stock after selling 484 shares during the quarter. Syntax Research Inc.’s holdings in RTX were worth $661,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Briaud Financial Planning Inc lifted its stake 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 purchasing an additional 100 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of RTX in the third quarter worth about $29,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of RTX in the second quarter worth about $32,000. Fairfield Financial Advisors LTD bought a new position in RTX during the second quarter valued at approximately $41,000. Finally, Western Pacific Wealth Management LP purchased a new position in RTX during the 3rd quarter valued at approximately $41,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Price Performance

Shares of RTX stock opened at $117.42 on Wednesday. The stock has a 50 day moving average price of $121.23 and a 200 day moving average price of $115.71. The firm has a market capitalization of $156.29 billion, a P/E ratio of 33.55, a P/E/G ratio of 2.08 and a beta of 0.80. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 0.99. RTX Co. has a 52-week low of $80.36 and a 52-week high of $128.70.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 earnings per share. As a group, sell-side analysts predict that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Friday, November 15th. RTX’s dividend payout ratio (DPR) is presently 72.00%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on RTX shares. TD Cowen raised RTX to a “strong-buy” rating in a report on Tuesday, October 8th. Morgan Stanley increased their price objective on shares of RTX from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Citigroup boosted their target price on shares of RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised shares of 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 report on Thursday, October 3rd. Finally, Royal Bank of Canada boosted their price objective on RTX from $115.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $177.27.

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.