GAMMA Investing LLC Buys 4,135,349 Shares of RTX Co. (NYSE:RTX)

GAMMA Investing LLC grew its position in shares of RTX Co. (NYSE:RTX - Free Report) by 14,838.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,163,218 shares of the company's stock after buying an additional 4,135,349 shares during the quarter. GAMMA Investing LLC owned approximately 0.31% of RTX worth $551,460,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of RTX during the fourth quarter valued at approximately $1,745,644,000. T. Rowe Price Investment Management Inc. boosted its stake in RTX by 43.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock valued at $1,216,063,000 after acquiring an additional 3,164,844 shares during the last quarter. Amundi boosted its stake in RTX by 83.1% in the fourth quarter. Amundi now owns 6,288,559 shares of the company's stock valued at $728,964,000 after acquiring an additional 2,854,928 shares during the last quarter. Capital Wealth Planning LLC bought a new position in RTX in the fourth quarter valued at approximately $216,340,000. Finally, Invesco Ltd. raised its holdings in RTX by 17.6% in the fourth quarter. Invesco Ltd. now owns 10,157,769 shares of the company's stock worth $1,175,457,000 after purchasing an additional 1,522,251 shares during the period. 86.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RTX. Wells Fargo & Company increased their target price on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a report on Tuesday, April 15th. Benchmark upgraded shares of 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. Cowen restated a "buy" rating on shares of RTX in a report on Friday, May 23rd. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective on the stock in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, RTX has an average rating of "Buy" and a consensus target price of $159.82.

RTX Stock Performance

Shares of RTX traded up $1.01 during midday trading on Monday, reaching $137.49. The stock had a trading volume of 3,944,836 shares, compared to its average volume of 5,381,601. The firm has a 50 day simple moving average of $129.09 and a 200-day simple moving average of $125.17. RTX Co. has a one year low of $99.07 and a one year high of $138.82. The firm has a market cap of $183.68 billion, a PE ratio of 38.73, a P/E/G ratio of 2.11 and a beta of 0.60. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data 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 net margin of 5.91% and a return on equity of 12.45%. The company had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. As a group, sell-side analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, May 23rd. This is an increase from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is 79.77%.

Insider Activity

In related news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the sale, the vice president now owns 9,546 shares of the company's stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.15% of the company's stock.

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.