Woodline Partners LP Grows Stake in RTX Co. (NYSE:RTX)

Woodline Partners LP increased its stake in RTX Co. (NYSE:RTX - Free Report) by 813.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 401,088 shares of the company's stock after acquiring an additional 357,198 shares during the period. Woodline Partners LP's holdings in RTX were worth $46,414,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RTX. Ameritas Advisory Services LLC grew its position in RTX by 59.0% in the fourth quarter. Ameritas Advisory Services LLC now owns 24,759 shares of the company's stock worth $2,865,000 after acquiring an additional 9,185 shares in the last quarter. Grove Bank & Trust boosted its position in shares of RTX by 5.4% during the fourth quarter. Grove Bank & Trust now owns 9,123 shares of the company's stock valued at $1,056,000 after buying an additional 464 shares during the period. Cascade Investment Group Inc. boosted its position in shares of RTX by 14.4% during the fourth quarter. Cascade Investment Group Inc. now owns 4,951 shares of the company's stock valued at $573,000 after buying an additional 624 shares during the period. Ellsworth Advisors LLC boosted its position in shares of RTX by 2.6% during the fourth quarter. Ellsworth Advisors LLC now owns 17,564 shares of the company's stock valued at $2,033,000 after buying an additional 451 shares during the period. Finally, City Holding Co. boosted its position in shares of RTX by 2.2% during the fourth quarter. City Holding Co. now owns 14,061 shares of the company's stock valued at $1,627,000 after buying an additional 305 shares during the period. Hedge funds and other institutional investors own 86.50% of the company's stock.

Insiders Place Their Bets

In related news, CEO Christopher T. Calio sold 27,379 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the transaction, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. This represents a 25.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ramsaran Maharajh sold 19,431 shares of the company's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total transaction of $2,464,239.42. Following the transaction, the executive vice president now owns 29,742 shares of the company's stock, valued at approximately $3,771,880.44. This trade represents a 39.52% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,946 shares of company stock worth $9,024,856. Company insiders own 0.15% of the company's stock.

RTX Price Performance

NYSE:RTX opened at $137.16 on Tuesday. RTX Co. has a one year low of $99.07 and a one year high of $137.72. 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 firm has a market cap of $183.24 billion, a price-to-earnings ratio of 38.64, a PEG ratio of 2.11 and a beta of 0.60. The firm's fifty day moving average is $128.84 and its two-hundred day moving average is $124.35.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. The business had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a net margin of 5.91% and a return on equity of 12.45%. Research analysts expect 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. Shareholders of record on Friday, May 23rd will be given a $0.68 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.98%. This is an increase from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio is 79.77%.

Analysts Set New Price Targets

RTX has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Morgan Stanley upgraded RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 target price for the company in a research report on Wednesday, April 23rd. Bank of America boosted their target price on RTX from $145.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Robert W. Baird raised shares of RTX from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Finally, Argus raised shares of RTX from a "hold" rating to a "buy" rating in a research note on Tuesday, February 11th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, RTX currently has a consensus rating of "Buy" and a consensus target price of $159.82.

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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