Worldquant Millennium Advisors LLC Raises Stock Position in RTX Co. (NYSE:RTX)

Worldquant Millennium Advisors LLC grew its holdings in RTX Co. (NYSE:RTX - Free Report) by 1,917.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 825,271 shares of the company's stock after buying an additional 784,365 shares during the period. Worldquant Millennium Advisors LLC owned 0.06% of RTX worth $95,500,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fairway Wealth LLC purchased a new stake in shares of RTX in the fourth quarter valued at about $31,000. Picton Mahoney Asset Management raised its holdings in RTX by 2,944.4% during the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after purchasing an additional 265 shares in the last quarter. Greenline Partners LLC purchased a new position in RTX during the fourth quarter worth about $34,000. Millstone Evans Group LLC purchased a new position in RTX during the fourth quarter worth about $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in RTX during the fourth quarter worth about $40,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the transaction, the vice president now owns 9,546 shares of the company's stock, valued at $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now directly owns 5,272 shares in the company, valued at approximately $664,008.40. This represents a 35.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,946 shares of company stock valued at $9,024,856 over the last quarter. Company insiders own 0.15% of the company's stock.

RTX Trading Down 1.3%

Shares of RTX traded down $1.70 on Friday, hitting $132.38. 5,509,922 shares of the stock traded hands, compared to its average volume of 5,396,730. 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 firm has a market capitalization of $176.85 billion, a P/E ratio of 37.29, a P/E/G ratio of 2.11 and a beta of 0.60. The stock's 50 day moving average is $129.13 and its two-hundred day moving average is $124.74. RTX Co. has a 1 year low of $99.07 and a 1 year high of $138.82.

RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.12. The business had revenue of $20.31 billion for 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%. As a group, sell-side analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a yield of 2.05%. This is an increase from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is currently 79.77%.

Analysts Set New Price Targets

Several research firms recently issued reports on RTX. Morgan Stanley raised shares of RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price target for the company in a report on Wednesday, April 23rd. UBS Group increased their price target on shares of RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Baird R W raised shares of RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Royal Bank of Canada cut their price target 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. Finally, Bank of America upped their target price on shares of RTX from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, RTX presently has an average 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.