RTX Co. (NYSE:RTX) Shares Purchased by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC lifted its stake in RTX Co. (NYSE:RTX - Free Report) by 271.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 147,234 shares of the company's stock after acquiring an additional 107,581 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in RTX were worth $17,038,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new position in RTX during the 4th quarter worth about $1,745,644,000. T. Rowe Price Investment Management Inc. lifted its position in shares of RTX by 43.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company's stock worth $1,216,063,000 after purchasing an additional 3,164,844 shares in the last quarter. Amundi boosted its stake in shares of 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 purchasing an additional 2,854,928 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of RTX by 545.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company's stock worth $286,845,000 after acquiring an additional 2,094,834 shares in the last quarter. Finally, Capital Wealth Planning LLC acquired a new position in RTX during the 4th quarter worth $216,340,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Price Performance

Shares of NYSE RTX traded up $2.89 during trading on Friday, reaching $130.30. The company had a trading volume of 5,002,098 shares, compared to its average volume of 5,480,324. The stock has a market capitalization of $174.07 billion, a PE ratio of 36.70, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The stock has a 50-day moving average price of $128.48 and a two-hundred day moving average price of $123.84. RTX Co. has a twelve month low of $99.07 and a twelve month high of $136.17. 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 posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share 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 business had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. 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 firm 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. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.09%. This is an increase from RTX's previous quarterly dividend of $0.63. RTX's payout ratio is currently 73.90%.

Insiders Place Their Bets

In other RTX news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 81,508 shares of the company's stock, valued at $10,625,382.88. The trade was a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the transaction, the chief financial officer now directly owns 59,556 shares in the company, valued at approximately $7,763,124.60. This represents a 21.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,831 shares of company stock valued at $10,309,302. Insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

RTX has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a "hold" rating to a "buy" rating and raised their price objective for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Susquehanna decreased their price target on RTX from $147.00 to $140.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. UBS Group boosted their target price on RTX from $133.00 to $138.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Royal Bank of Canada reduced their price target on RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, RTX has an average rating of "Buy" and a consensus price target of $161.06.

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.