RTX Co. (NYSE:RTX) Position Decreased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its holdings in RTX Co. (NYSE:RTX) by 4.4% during the fourth quarter, Holdings Channel reports. The firm owned 71,600 shares of the company’s stock after selling 3,300 shares during the period. Louisiana State Employees Retirement System’s holdings in RTX were worth $8,286,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Avestar Capital LLC raised its holdings in RTX by 0.6% in the 3rd quarter. Avestar Capital LLC now owns 14,461 shares of the company’s stock valued at $1,752,000 after acquiring an additional 85 shares in the last quarter. Arbor Wealth Advisors LLC increased its position in shares of RTX by 3.7% during the fourth quarter. Arbor Wealth Advisors LLC now owns 2,382 shares of the company’s stock valued at $276,000 after purchasing an additional 85 shares during the period. Moloney Securities Asset Management LLC raised its stake in shares of RTX by 0.7% in the fourth quarter. Moloney Securities Asset Management LLC now owns 12,798 shares of the company’s stock valued at $1,481,000 after purchasing an additional 85 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC lifted its position in RTX by 20.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company’s stock worth $62,000 after purchasing an additional 86 shares during the period. Finally, Blackston Financial Advisory Group LLC boosted its stake in RTX by 3.7% during the third quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company’s stock worth $291,000 after buying an additional 86 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Dantaya M. Williams sold 14,031 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the transaction, the executive vice president now owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This trade represents a 24.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RTX. Susquehanna increased their price objective on shares of RTX from $139.00 to $147.00 and gave the company a “positive” rating in a research note on Wednesday, January 29th. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Royal Bank of Canada lifted their price objective on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Barclays increased their target price on RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, Wells Fargo & Company boosted their price target on RTX from $151.00 to $156.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $163.07.

RTX Stock Performance

RTX stock opened at $129.01 on Wednesday. The stock has a 50-day simple moving average of $120.40 and a 200 day simple moving average of $120.49. The stock has a market capitalization of $171.86 billion, a price-to-earnings ratio of 36.34, a P/E/G ratio of 2.17 and a beta of 0.82. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a 12-month low of $88.90 and a 12-month high of $132.43.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, research analysts anticipate that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.95%. RTX’s payout ratio 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.