AXQ Capital LP Increases Stake in RTX Co. (NYSE:RTX)

AXQ Capital LP increased its holdings in shares of RTX Co. (NYSE:RTX) by 38.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,046 shares of the company’s stock after buying an additional 850 shares during the period. AXQ Capital LP’s holdings in RTX were worth $352,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in RTX. Amundi increased its stake in RTX by 83.1% during the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after buying an additional 2,854,928 shares during the period. Assenagon Asset Management S.A. increased its stake in RTX by 545.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after buying an additional 2,094,834 shares during the period. Capital Wealth Planning LLC acquired a new position in RTX during the 4th quarter worth approximately $216,340,000. Proficio Capital Partners LLC grew its holdings in RTX by 19,052.5% during the 4th quarter. Proficio Capital Partners LLC now owns 1,043,239 shares of the company’s stock worth $120,724,000 after acquiring an additional 1,037,792 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in RTX by 190.7% during the 4th quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock worth $175,202,000 after acquiring an additional 993,273 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Stock Down 1.6 %

Shares of NYSE:RTX opened at $132.35 on Monday. The stock has a market cap of $176.70 billion, a P/E ratio of 37.28, a P/E/G ratio of 2.11 and a beta of 0.78. The firm has a fifty day moving average price of $127.15 and a 200 day moving average price of $122.56. 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 Co. has a 1-year low of $95.27 and a 1-year high of $135.74.

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

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.90%. RTX’s payout ratio is currently 70.99%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RTX shares. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $142.00 to $147.00 in a report on Monday, February 24th. Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $132.00 to $153.00 in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and boosted their price target for the stock from $131.00 to $140.00 in a report on Thursday, January 2nd. Finally, Royal Bank of Canada upped their target price on shares of RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.40.

Insiders Place Their Bets

In other RTX news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the company’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 owns 59,556 shares in the company, valued at approximately $7,763,124.60. This represents a 21.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 81,508 shares of the company’s stock, valued at $10,625,382.88. This represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is owned by 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.