Brevan Howard Capital Management LP Buys 74,208 Shares of RTX Co. (NYSE:RTX)

Brevan Howard Capital Management LP raised its position in shares of RTX Co. (NYSE:RTX - Free Report) by 1,232.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 80,230 shares of the company's stock after purchasing an additional 74,208 shares during the quarter. Brevan Howard Capital Management LP's holdings in RTX were worth $9,284,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. CX Institutional boosted its position in RTX by 21.9% during the fourth quarter. CX Institutional now owns 65,150 shares of the company's stock worth $7,539,000 after purchasing an additional 11,706 shares in the last quarter. National Pension Service raised its position in shares of RTX by 15.1% during the 4th quarter. National Pension Service now owns 2,859,573 shares of the company's stock valued at $330,910,000 after buying an additional 375,781 shares during the period. Czech National Bank grew its holdings in shares of RTX by 6.5% during the 4th quarter. Czech National Bank now owns 288,591 shares of the company's stock worth $33,396,000 after purchasing an additional 17,608 shares during the period. Archer Investment Corp boosted its stake in RTX by 370.3% during the fourth quarter. Archer Investment Corp now owns 5,272 shares of the company's stock worth $610,000 after buying an additional 4,151 shares during the period. Finally, Optas LLC lifted its stake in RTX by 114.5% during the fourth quarter. Optas LLC now owns 7,062 shares of the company's stock worth $817,000 after purchasing an additional 3,770 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insiders Place Their Bets

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were 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 directly owns 59,556 shares in the company, valued at approximately $7,763,124.60. This trade represents a 21.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of RTX 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,800 shares of company stock worth $8,496,076. Corporate insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

RTX has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price target on shares of RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Royal Bank of Canada lowered their target price on shares of RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Citigroup lowered their price objective on shares of RTX from $153.00 to $148.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Argus raised RTX from a "hold" rating to a "buy" rating in a report on Tuesday, February 11th. Finally, Susquehanna dropped their target price on RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $161.06.

RTX Stock Performance

Shares of NYSE RTX traded down $0.56 during mid-day trading on Wednesday, hitting $127.60. The company had a trading volume of 4,029,017 shares, compared to its average volume of 5,425,331. The business's 50-day simple moving average is $128.35 and its 200-day simple moving average is $123.89. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. RTX Co. has a 12 month low of $99.07 and a 12 month high of $136.17. The firm has a market cap of $170.47 billion, a P/E ratio of 35.94, a PEG ratio of 2.11 and a beta of 0.60.

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, topping 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 business had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. As a group, analysts predict that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be issued a $0.68 dividend. The ex-dividend date is Friday, May 23rd. This is a positive change from RTX's previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a yield of 2.13%. RTX's dividend payout ratio (DPR) is 79.77%.

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.