Alliancebernstein L.P. increased its stake in RTX Co. (NYSE:RTX - Free Report) by 22.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,477,658 shares of the company's stock after acquiring an additional 813,629 shares during the period. Alliancebernstein L.P. owned approximately 0.34% of RTX worth $518,155,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. acquired a new stake in RTX in the fourth quarter valued at approximately $590,000. FSB Premier Wealth Management Inc. increased its position in shares of RTX by 27.0% during the fourth quarter. FSB Premier Wealth Management Inc. now owns 4,157 shares of the company's stock worth $481,000 after purchasing an additional 885 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of RTX by 17.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 530,488 shares of the company's stock valued at $61,388,000 after purchasing an additional 78,102 shares during the period. RWA Wealth Partners LLC grew its position in shares of RTX by 0.6% during the fourth quarter. RWA Wealth Partners LLC now owns 227,769 shares of the company's stock worth $26,357,000 after acquiring an additional 1,371 shares during the last quarter. Finally, Schroder Investment Management Group increased its stake in RTX by 195.0% in the fourth quarter. Schroder Investment Management Group now owns 637,058 shares of the company's stock valued at $73,402,000 after purchasing an additional 421,137 shares during the period. 86.50% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the company. Morgan Stanley lifted their target price on RTX from $130.00 to $135.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 29th. Royal Bank of Canada boosted their price objective on shares of RTX from $140.00 to $150.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Susquehanna lifted their target price on shares of RTX from $139.00 to $147.00 and gave the company a "positive" rating in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a "hold" rating to a "buy" rating and increased their price target for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on RTX from $140.00 to $150.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, RTX currently has a consensus rating of "Moderate Buy" and a consensus price target of $166.40.
Check Out Our Latest Stock Analysis on RTX
Insider Activity at RTX
In other news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the completion of the sale, the chief financial officer now owns 59,556 shares in the company, valued at approximately $7,763,124.60. This trade represents a 21.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher T. Calio sold 27,379 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now owns 81,508 shares of the company's stock, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is owned by company insiders.
RTX Price Performance
RTX traded up $0.39 during midday trading on Tuesday, reaching $132.85. 4,798,756 shares of the company's stock were exchanged, compared to its average volume of 5,629,088. RTX Co. has a 1-year low of $97.03 and a 1-year high of $136.17. The stock has a market capitalization of $177.36 billion, a PE ratio of 37.42, a P/E/G ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The business's 50-day moving average price is $128.82 and its 200 day moving average price is $123.15.
RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.
RTX Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were given a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.90%. RTX's dividend payout ratio is presently 70.99%.
RTX Profile
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Free Report)
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.
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