Moore Capital Management LP Lowers Position in RTX Co. (NYSE:RTX)

Moore Capital Management LP lowered its stake in shares of RTX Co. (NYSE:RTX) by 60.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 59,817 shares of the company’s stock after selling 89,724 shares during the period. Moore Capital Management LP’s holdings in RTX were worth $6,922,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Czech National Bank increased its position in shares of RTX by 6.5% during the fourth quarter. Czech National Bank now owns 288,591 shares of the company’s stock worth $33,396,000 after acquiring an additional 17,608 shares during the period. Aprio Wealth Management LLC increased its position in shares of RTX by 8.6% during the fourth quarter. Aprio Wealth Management LLC now owns 2,883 shares of the company’s stock worth $334,000 after purchasing an additional 229 shares in the last quarter. Thomasville National Bank increased its holdings in shares of RTX by 1.7% in the 4th quarter. Thomasville National Bank now owns 208,419 shares of the company’s stock valued at $24,118,000 after acquiring an additional 3,558 shares during the period. CHICAGO TRUST Co NA grew its holdings in shares of RTX by 11.2% during the fourth quarter. CHICAGO TRUST Co NA now owns 12,935 shares of the company’s stock worth $1,497,000 after buying an additional 1,299 shares during the last quarter. Finally, Agate Pass Investment Management LLC raised its position in RTX by 45.0% during the 4th quarter. Agate Pass Investment Management LLC now owns 20,867 shares of the company’s stock worth $2,415,000 after buying an additional 6,475 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RTX. Vertical Research raised shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Bank of America boosted their price target on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Baird R W raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Citigroup reduced their price objective on RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, Morgan Stanley upgraded shares of RTX from an “equal weight” rating to an “overweight” rating and set a $135.00 price target on the stock in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, RTX currently has a consensus rating of “Buy” and an average target price of $161.06.

RTX Price Performance

NYSE:RTX opened at $128.69 on Monday. RTX Co. has a one year low of $99.07 and a one year high of $136.17. The stock has a market cap of $171.92 billion, a P/E ratio of 36.25, a PEG ratio of 2.11 and a beta of 0.60. The company has a fifty day moving average price of $128.26 and a 200 day moving average price of $123.90. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX) last issued its quarterly earnings data 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 net margin of 5.91% and a return on equity of 12.45%. The firm had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.80 billion. Analysts anticipate that RTX Co. will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.11%. This is a positive change from RTX’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Friday, May 23rd. RTX’s dividend payout ratio is presently 79.77%.

Insider Activity

In other RTX news, insider Troy D. Brunk sold 2,872 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ramsaran Maharajh sold 19,431 shares of RTX stock in a transaction that occurred on 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 sale, the executive vice president now owns 29,742 shares of the company’s stock, valued at approximately $3,771,880.44. This represents a 39.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,946 shares of company stock valued at $9,024,856 over the last three months. 0.15% of the stock is owned by insiders.

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.