AlphaQuest LLC Sells 5,653 Shares of RTX Co. (NYSE:RTX)

AlphaQuest LLC trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 29.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,807 shares of the company’s stock after selling 5,653 shares during the quarter. AlphaQuest LLC’s holdings in RTX were worth $1,598,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new stake in RTX during the third quarter valued at approximately $29,000. Modus Advisors LLC bought a new position in shares of RTX in the fourth quarter worth approximately $39,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of RTX in the fourth quarter worth approximately $40,000. Iron Horse Wealth Management LLC boosted its position in shares of RTX by 296.8% in the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after purchasing an additional 279 shares during the period. Finally, Centricity Wealth Management LLC bought a new position in shares of RTX in the fourth quarter worth approximately $52,000. 86.50% of the stock is currently owned by institutional investors.

RTX Price Performance

RTX stock opened at $128.63 on Friday. The company has a market cap of $171.35 billion, a price-to-earnings ratio of 36.23, a PEG ratio of 2.11 and a beta of 0.78. The firm’s fifty day moving average is $124.02 and its 200 day moving average is $121.79. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a 52-week low of $89.44 and a 52-week high of $135.36.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is 70.99%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on RTX shares. Bank of America upped their price target 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. JPMorgan Chase & Co. upped their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Vertical Research upgraded shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Royal Bank of Canada upped their price target on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.40.

Insider Activity

In other news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the sale, the insider now owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This represents a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the sale, the executive vice president now directly owns 44,415 shares in the company, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,831 shares of company stock valued at $10,309,302. 0.13% of the stock is currently owned by company insiders.

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.