Renaissance Technologies LLC Has $4.14 Million Holdings in RTX Co. (NYSE:RTX)

Renaissance Technologies LLC lessened its position in shares of RTX Co. (NYSE:RTX - Free Report) by 92.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,731 shares of the company's stock after selling 441,515 shares during the period. Renaissance Technologies LLC's holdings in RTX were worth $4,135,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in RTX. Fairway Wealth LLC bought a new position in RTX during the 4th quarter worth $31,000. Picton Mahoney Asset Management grew its stake in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after acquiring an additional 265 shares in the last quarter. Modus Advisors LLC bought a new position in RTX during the fourth quarter worth about $39,000. Millstone Evans Group LLC bought a new stake in RTX in the 4th quarter valued at about $39,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in shares of RTX during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Insider Activity

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the sale, the chief financial officer now owns 59,556 shares in the company, valued at $7,763,124.60. This represents a 21.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the sale, the chief executive officer now owns 81,508 shares of the company's stock, valued at $10,625,382.88. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.15% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on RTX. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a "hold" rating to a "buy" rating and lifted their price target for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Susquehanna cut their target price on RTX from $147.00 to $140.00 and set a "positive" rating for the company in a research report on Wednesday. Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Wells Fargo & Company increased their price objective on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 15th. Finally, Royal Bank of Canada cut their price target on shares of RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $163.53.

RTX Trading Up 1.4 %

Shares of RTX stock traded up $1.71 during trading hours on Thursday, hitting $121.99. 3,313,510 shares of the company's stock traded hands, compared to its average volume of 5,509,174. The stock has a market cap of $162.87 billion, a PE ratio of 34.36, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The stock's 50 day simple moving average is $128.29 and its 200 day simple moving average is $123.75. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a 12 month low of $99.07 and a 12 month high of $136.17.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The firm had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. On average, sell-side analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were given a $0.63 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.07%. RTX's dividend payout ratio (DPR) is currently 70.99%.

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.