Aquatic Capital Management LLC Reduces Position in RTX Co. (NYSE:RTX)

Aquatic Capital Management LLC decreased its position in shares of RTX Co. (NYSE:RTX) by 91.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,396 shares of the company’s stock after selling 212,804 shares during the quarter. Aquatic Capital Management LLC’s holdings in RTX were worth $2,360,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Fairway Wealth LLC purchased a new position in shares of RTX during the 4th quarter valued at $31,000. Picton Mahoney Asset Management lifted its stake in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after buying an additional 265 shares in the last quarter. Modus Advisors LLC purchased a new position in shares of RTX during the 4th quarter valued at $39,000. Millstone Evans Group LLC purchased a new position in shares of RTX during the 4th quarter valued at $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in shares of RTX during the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Transactions at RTX

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction 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 $664,008.40. This trade represents a 35.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares in the company, valued at $10,625,382.88. The trade was a 25.14 % 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. 0.15% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Robert W. Baird upgraded 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 report on Wednesday, March 19th. Argus upgraded shares of RTX from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Royal Bank of Canada reduced their price target on shares of RTX from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Susquehanna reduced their price target on shares of RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a report on Wednesday, April 23rd. Finally, Bank of America lifted their price target on shares of RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $161.06.

RTX Trading Down 0.3 %

Shares of NYSE RTX opened at $124.79 on Tuesday. 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 business’s 50 day moving average price is $128.30 and its 200-day moving average price is $123.75. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $136.17. The company has a market cap of $166.71 billion, a price-to-earnings ratio of 35.15, a PEG ratio of 2.11 and a beta of 0.58.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The firm had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. On average, sell-side analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders 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 annualized dividend and a dividend yield of 2.02%. RTX’s payout ratio is 73.90%.

About RTX

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.