4,386 Shares in RTX Corporation (NYSE:RTX) Bought by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP acquired 4,386 shares of RTX Corporation valued at approximately $581,000 during the first quarter.
• Insider sales at RTX have been significant, with executives selling a total of 39,935 shares valued at nearly $5.94 million in the last 90 days.
• RTX recently reported earnings of $1.56 per share, surpassing the consensus estimate, with quarterly revenue reaching $21.58 billion, reflecting a 9.4% increase year-over-year.

Aigen Investment Management LP acquired a new position in shares of RTX Corporation (NYSE:RTX - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 4,386 shares of the company's stock, valued at approximately $581,000.

A number of other hedge funds have also recently made changes to their positions in the stock. MorganRosel Wealth Management LLC acquired a new position in RTX during the 1st quarter valued at about $26,000. 10Elms LLP acquired a new position in RTX during the 4th quarter valued at about $29,000. Greenline Partners LLC acquired a new position in RTX during the 4th quarter valued at about $34,000. Mpwm Advisory Solutions LLC acquired a new position in RTX during the 4th quarter valued at about $43,000. Finally, McClarren Financial Advisors Inc. acquired a new position in RTX during the 1st quarter valued at about $44,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at RTX

In related news, VP Kevin G. Dasilva sold 8,704 shares of the stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $156.20, for a total value of $1,359,564.80. Following the completion of the transaction, the vice president directly owned 30,004 shares of the company's stock, valued at approximately $4,686,624.80. This represents a 22.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the transaction, the executive vice president directly owned 16,538 shares of the company's stock, valued at approximately $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,935 shares of company stock valued at $5,938,488 in the last 90 days. 0.15% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on RTX shares. Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a report on Wednesday, May 14th. UBS Group increased their price objective on RTX from $166.00 to $177.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Jefferies Financial Group reissued a "hold" rating on shares of RTX in a report on Monday, July 21st. Royal Bank Of Canada reissued an "outperform" rating and issued a $170.00 price objective (up from $165.00) on shares of RTX in a report on Wednesday, July 23rd. Finally, The Goldman Sachs Group increased their price objective on RTX from $114.00 to $126.00 and gave the company a "neutral" rating in a report on Monday, June 23rd. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.67.

RTX Stock Performance

Shares of RTX stock opened at $154.84 on Tuesday. The company has a market capitalization of $207.25 billion, a P/E ratio of 34.03, a P/E/G ratio of 2.85 and a beta of 0.69. The business's 50 day moving average is $148.22 and its two-hundred day moving average is $135.73. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. RTX Corporation has a 12-month low of $112.27 and a 12-month high of $158.79.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.11. The business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.41 earnings per share. Analysts expect that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.8%. RTX's dividend payout ratio is currently 59.78%.

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.

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