Trexquant Investment LP Acquires 14,472 Shares of RTX Co. (NYSE:RTX)

Trexquant Investment LP lifted its holdings in shares of RTX Co. (NYSE:RTX) by 43.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,774 shares of the company’s stock after acquiring an additional 14,472 shares during the quarter. Trexquant Investment LP’s holdings in RTX were worth $5,528,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Morse Asset Management Inc bought a new position in RTX in the third quarter worth about $321,000. Redwood Investment Management LLC lifted its stake in shares of RTX by 4.0% in the 3rd quarter. Redwood Investment Management LLC now owns 14,519 shares of the company’s stock valued at $1,748,000 after purchasing an additional 565 shares during the period. Quarry LP boosted its position in shares of RTX by 197.9% during the third quarter. Quarry LP now owns 846 shares of the company’s stock valued at $103,000 after purchasing an additional 562 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in RTX in the third quarter worth $6,243,000. Finally, Stevens Capital Management LP bought a new position in RTX in the third quarter worth $220,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Price Performance

RTX opened at $117.43 on Friday. The company’s 50-day simple moving average is $129.05 and its two-hundred day simple moving average is $123.35. 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 stock has a market capitalization of $156.78 billion, a P/E ratio of 33.08, a P/E/G ratio of 2.11 and a beta of 0.58. RTX Co. has a 52-week low of $99.07 and a 52-week high of $136.17.

RTX (NYSE:RTX) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio is 70.99%.

Analysts Set New Price Targets

RTX has been the topic of a number of recent research reports. Vertical Research raised shares of RTX to a “strong-buy” rating in a research report on Tuesday, January 28th. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $136.00 to $160.00 in a report on Wednesday, March 19th. Wells Fargo & Company lifted their target price on shares of RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Argus upgraded RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and raised their price objective for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Four 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 company. Based on data from MarketBeat, RTX has a consensus rating of “Moderate Buy” and an average target price of $166.40.

Insiders Place Their Bets

In related news, insider Troy D. Brunk sold 2,872 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 5,272 shares of the company’s stock, valued at approximately $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,831 shares of company stock valued at $10,309,302. Insiders own 0.15% of the company’s stock.

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.