Arrowstreet Capital Limited Partnership Buys 88,604 Shares of RTX Co. (NYSE:RTX)

Arrowstreet Capital Limited Partnership lifted its stake in shares of RTX Co. (NYSE:RTX) by 51.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 262,074 shares of the company’s stock after purchasing an additional 88,604 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in RTX were worth $30,327,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP bought a new stake in shares of RTX in the 3rd quarter valued at about $405,000. Erste Asset Management GmbH bought a new stake in RTX in the third quarter valued at approximately $102,000. Janus Henderson Group PLC lifted its position in shares of RTX by 256.6% in the third quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock valued at $118,309,000 after buying an additional 702,699 shares during the last quarter. Morse Asset Management Inc bought a new position in shares of RTX during the 3rd quarter worth approximately $321,000. Finally, Redwood Investment Management LLC increased its holdings in shares of RTX by 4.0% during the 3rd quarter. Redwood Investment Management LLC now owns 14,519 shares of the company’s stock worth $1,748,000 after acquiring an additional 565 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Troy D. Brunk sold 2,872 shares of the 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 transaction, the insider now owns 5,272 shares of the company’s stock, valued at $664,008.40. This represents a 35.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,831 shares of company stock worth $10,309,302 in the last ninety days. 0.15% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Vertical Research raised RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Bank of America lifted their target price on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price objective on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Baird R W upgraded RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $166.40.

RTX Stock Up 0.3 %

RTX stock opened at $133.30 on Thursday. RTX Co. has a 52 week low of $97.03 and a 52 week high of $136.17. The business has a 50-day simple moving average of $129.13 and a 200 day simple moving average of $123.31. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a market cap of $177.97 billion, a PE ratio of 37.55, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

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

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were issued a dividend of $0.63 per share. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.89%. 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.