Alliancebernstein L.P. Purchases 813,629 Shares of RTX Co. (NYSE:RTX)

Alliancebernstein L.P. lifted its position in shares of RTX Co. (NYSE:RTX) by 22.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,477,658 shares of the company’s stock after purchasing an additional 813,629 shares during the quarter. Alliancebernstein L.P. owned about 0.34% of RTX worth $518,155,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fairway Wealth LLC bought a new stake in shares of RTX during the 4th quarter valued at $31,000. Picton Mahoney Asset Management boosted its stake 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 acquiring an additional 265 shares in the last quarter. Modus Advisors LLC purchased a new stake in RTX in the fourth quarter worth about $39,000. Millstone Evans Group LLC bought a new position in shares of RTX during the fourth quarter valued at approximately $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in shares of RTX during the fourth quarter valued at approximately $40,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at RTX

In other news, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction dated Thursday, February 27th. The stock was 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the completion of the sale, the chief financial officer now directly owns 59,556 shares of the company’s stock, valued at $7,763,124.60. This represents a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,831 shares of company stock worth $10,309,302. Corporate insiders own 0.15% of the company’s stock.

RTX Trading Down 1.3 %

Shares of NYSE:RTX opened at $131.68 on Monday. The stock’s 50-day simple moving average is $128.59 and its two-hundred day simple moving average is $123.06. The stock has a market capitalization of $175.81 billion, a price-to-earnings ratio of 37.09, a PEG ratio of 2.11 and a beta of 0.78. RTX Co. has a 52-week low of $97.03 and a 52-week high of $136.17. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. Analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were issued a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.91%. RTX’s dividend payout ratio is currently 70.99%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RTX shares. Argus raised RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. raised their price target on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. Morgan Stanley lifted their target price on shares of RTX from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Finally, StockNews.com cut shares of RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $166.40.

RTX 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.