Moore Capital Management LP Sells 89,724 Shares of RTX Co. (NYSE:RTX)

Moore Capital Management LP lessened its holdings in shares of RTX Co. (NYSE:RTX) by 60.0% during the 4th quarter, HoldingsChannel reports. 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RTX. CX Institutional raised its holdings in shares of RTX by 21.9% during the fourth quarter. CX Institutional now owns 65,150 shares of the company’s stock worth $7,539,000 after acquiring an additional 11,706 shares during the period. National Pension Service increased its holdings in RTX by 15.1% during the 4th quarter. National Pension Service now owns 2,859,573 shares of the company’s stock worth $330,910,000 after purchasing an additional 375,781 shares in the last quarter. Czech National Bank raised its stake in shares of RTX by 6.5% in the 4th quarter. Czech National Bank now owns 288,591 shares of the company’s stock valued at $33,396,000 after purchasing an additional 17,608 shares during the period. Archer Investment Corp boosted its position in shares of RTX by 370.3% during the fourth quarter. Archer Investment Corp now owns 5,272 shares of the company’s stock worth $610,000 after buying an additional 4,151 shares during the period. Finally, Optas LLC grew its holdings in shares of RTX by 114.5% during the fourth quarter. Optas LLC now owns 7,062 shares of the company’s stock worth $817,000 after buying an additional 3,770 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Trading Up 0.0%

Shares of RTX stock opened at $128.69 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. The firm has a 50-day moving average of $128.26 and a 200-day moving average of $123.90. RTX Co. has a 52-week low of $99.07 and a 52-week high of $136.17. The stock has a market cap of $171.92 billion, a PE ratio of 36.25, a PEG ratio of 2.11 and a beta of 0.60.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The firm had revenue of $20.31 billion during the quarter, compared to analysts’ expectations of $19.80 billion. As a group, sell-side analysts forecast that RTX Co. will post 6.11 EPS for the current year.

RTX Increases Dividend

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

Analysts Set New Price Targets

RTX has been the topic of several research reports. Wells Fargo & Company boosted their target price on RTX from $136.00 to $144.00 and gave the company an “overweight” rating in a research note on Tuesday, April 15th. Citigroup cut their price objective on shares of RTX from $153.00 to $148.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Robert W. Baird raised shares of RTX from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $136.00 to $160.00 in a research report on Wednesday, March 19th. Finally, UBS Group increased their price objective on shares of RTX from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Three investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $161.06.

Insider Activity

In other news, insider Troy D. Brunk sold 2,872 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $125.95, for a total value of $361,728.40. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president now directly owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,946 shares of company stock worth $9,024,856. Insiders own 0.15% of the company’s stock.

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.