Alliancebernstein L.P. Increases Stock Position in RTX Co. (NYSE:RTX)

Alliancebernstein L.P. lifted its position in RTX Co. (NYSE:RTX) by 22.2% during the 4th quarter, HoldingsChannel reports. The firm owned 4,477,658 shares of the company’s stock after acquiring an additional 813,629 shares during the quarter. Alliancebernstein L.P.’s holdings in RTX were worth $518,155,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in RTX. Fairway Wealth LLC purchased a new stake in shares of RTX during the 4th quarter worth approximately $31,000. Picton Mahoney Asset Management increased its position in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock worth $31,000 after purchasing an additional 265 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in RTX during the fourth quarter valued at $39,000. Modus Advisors LLC bought a new position in RTX during the fourth quarter valued at $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in shares of RTX in the 4th quarter worth $40,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the transaction, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. The trade was a 24.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Troy D. Brunk sold 2,872 shares of the firm’s 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 sale, the insider now directly owns 5,272 shares in the company, valued at approximately $664,008.40. The trade was a 35.27 % 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 currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “hold” rating to a “buy” rating and increased their price target for the company from $131.00 to $140.00 in a report on Thursday, January 2nd. Baird R W raised RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. StockNews.com lowered RTX from a “buy” rating to a “hold” rating in a report on Friday, February 14th. UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating in a research note on Monday, March 24th. Finally, Morgan Stanley increased their target price on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $166.40.

RTX Stock Performance

RTX stock opened at $131.68 on Monday. RTX Co. has a fifty-two week low of $97.03 and a fifty-two week high of $136.17. The company has a market capitalization of $175.81 billion, a PE ratio of 37.09, a P/E/G ratio of 2.11 and a beta of 0.78. The company has a 50 day moving average price of $128.59 and a 200-day moving average price of $123.06. 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 (NYSE:RTX) last issued its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. As a group, equities analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently announced 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. This represents a $2.52 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Friday, February 21st. RTX’s dividend payout ratio (DPR) is 70.99%.

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.