Worldquant Millennium Advisors LLC Boosts Stock Position in RTX Co. (NYSE:RTX)

Worldquant Millennium Advisors LLC boosted its holdings in RTX Co. (NYSE:RTX) by 1,917.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 825,271 shares of the company’s stock after purchasing an additional 784,365 shares during the period. Worldquant Millennium Advisors LLC owned about 0.06% of RTX worth $95,500,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of RTX. Norges Bank purchased a new position in RTX in the fourth quarter worth $1,745,644,000. T. Rowe Price Investment Management Inc. boosted its position in RTX by 43.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,508,662 shares of the company’s stock worth $1,216,063,000 after purchasing an additional 3,164,844 shares during the last quarter. Amundi boosted its position in RTX by 83.1% in the fourth quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after purchasing an additional 2,854,928 shares during the last quarter. Capital Wealth Planning LLC purchased a new position in RTX in the fourth quarter worth $216,340,000. Finally, Invesco Ltd. boosted its position in RTX by 17.6% in the fourth quarter. Invesco Ltd. now owns 10,157,769 shares of the company’s stock worth $1,175,457,000 after purchasing an additional 1,522,251 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

Shares of RTX opened at $137.16 on Tuesday. The stock’s 50-day simple moving average is $128.84 and its 200 day simple moving average is $124.35. The stock has a market capitalization of $183.24 billion, a price-to-earnings ratio of 38.64, a price-to-earnings-growth ratio of 2.11 and a beta of 0.60. 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 Co. has a 52-week low of $99.07 and a 52-week high of $137.72.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.12. The business had revenue of $20.31 billion for the quarter, compared to analyst estimates of $19.80 billion. RTX had a return on equity of 12.45% and a net margin of 5.91%. Research analysts forecast that RTX Co. will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be paid a $0.68 dividend. This is a positive change from RTX’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Friday, May 23rd. RTX’s dividend payout ratio is currently 79.77%.

Analyst Ratings Changes

Several research firms have weighed in on RTX. Vertical Research raised RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Susquehanna dropped their price target on RTX from $147.00 to $140.00 and set a “positive” rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company upped their price target on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a research report on Tuesday, April 15th. UBS Group upped their price target on RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Finally, Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $159.82.

Insiders Place Their Bets

In other news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction dated 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 approximately $664,008.40. This represents a 35.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president now owns 9,546 shares in the company, valued at $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,946 shares of company stock worth $9,024,856 in the last ninety days. 0.15% of the stock is currently owned by insiders.

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.