AlphaQuest LLC Sells 5,653 Shares of RTX Co. (NYSE:RTX)

AlphaQuest LLC lessened its position in RTX Co. (NYSE:RTX) by 29.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,807 shares of the company’s stock after selling 5,653 shares during the period. AlphaQuest LLC’s holdings in RTX were worth $1,598,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in RTX by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock worth $3,290,622,000 after acquiring an additional 508,344 shares during the last quarter. Fisher Asset Management LLC grew its holdings in RTX by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock worth $2,204,198,000 after acquiring an additional 576,214 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in RTX by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,247,429 shares of the company’s stock worth $1,185,832,000 after acquiring an additional 151,474 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in RTX by 5.9% in the 4th quarter. Bank of New York Mellon Corp now owns 9,806,866 shares of the company’s stock worth $1,134,851,000 after acquiring an additional 549,814 shares during the last quarter. Finally, Amundi grew its holdings in RTX by 83.1% in the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after acquiring an additional 2,854,928 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Insiders Place Their Bets

In other news, insider Troy D. Brunk sold 2,872 shares of RTX stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the sale, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the sale, the executive vice president now owns 44,415 shares of the company’s stock, valued at $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,831 shares of company stock valued at $10,309,302. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RTX. Vertical Research raised shares of RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. StockNews.com lowered shares of RTX from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Morgan Stanley lifted their target price on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and lifted their target price for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Finally, UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $142.00 to $147.00 in a research note on Monday, February 24th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $163.40.

RTX Stock Up 0.3 %

Shares of RTX stock opened at $128.63 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The stock has a market capitalization of $171.35 billion, a PE ratio of 36.23, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. RTX Co. has a 52-week low of $89.44 and a 52-week high of $135.36. The company has a 50-day simple moving average of $124.02 and a two-hundred day simple moving average of $121.79.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, analysts anticipate that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.96%. RTX’s dividend payout ratio (DPR) is presently 70.99%.

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.