Aigen Investment Management LP Makes New $581,000 Investment in RTX Corporation (NYSE:RTX)

Aigen Investment Management LP bought a new position in shares of RTX Corporation (NYSE:RTX) in the 1st quarter, HoldingsChannel.com reports. The fund bought 4,386 shares of the company’s stock, valued at approximately $581,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RTX. Brighton Jones LLC increased its stake in RTX by 24.3% during the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock worth $1,969,000 after acquiring an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in RTX by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock worth $564,000 after acquiring an additional 159 shares during the last quarter. SageView Advisory Group LLC increased its stake in RTX by 17.6% during the fourth quarter. SageView Advisory Group LLC now owns 14,033 shares of the company’s stock worth $1,624,000 after acquiring an additional 2,099 shares during the last quarter. Mariner LLC increased its stake in RTX by 3.4% during the fourth quarter. Mariner LLC now owns 387,389 shares of the company’s stock worth $44,828,000 after acquiring an additional 12,778 shares during the last quarter. Finally, CreativeOne Wealth LLC increased its stake in RTX by 13.2% during the fourth quarter. CreativeOne Wealth LLC now owns 20,463 shares of the company’s stock worth $2,368,000 after acquiring an additional 2,391 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Buying and Selling

In other RTX news, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the sale, the executive vice president directly owned 16,538 shares of the company’s stock, valued at $2,275,959.56. This represents a 50.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total value of $222,604.12. Following the transaction, the executive vice president owned 13,184 shares in the company, valued at $2,007,395.84. The trade was a 9.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,935 shares of company stock valued at $5,938,488 in the last quarter. 0.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RTX shares. Benchmark upgraded RTX from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a report on Wednesday, May 14th. DZ Bank upgraded RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective on the stock in a report on Friday, April 25th. The Goldman Sachs Group boosted their price objective on RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a report on Monday, June 23rd. Sanford C. Bernstein set a $154.00 price objective on RTX and gave the company a “market perform” rating in a report on Friday, July 11th. Finally, UBS Group boosted their price objective on RTX from $166.00 to $177.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $158.67.

RTX Trading Down 0.0%

NYSE:RTX opened at $154.84 on Tuesday. The stock has a 50-day simple moving average of $148.22 and a 200-day simple moving average of $135.73. The stock has a market cap of $207.25 billion, a P/E ratio of 34.03, a P/E/G ratio of 2.85 and a beta of 0.69. RTX Corporation has a 1 year low of $112.27 and a 1 year high of $158.79. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%. The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. During the same period in the previous year, the business earned $1.41 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.8%. RTX’s dividend payout ratio is presently 59.78%.

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.