Kentucky Retirement Systems Trims Holdings in RTX Co. (NYSE:RTX)

Kentucky Retirement Systems cut its holdings in shares of RTX Co. (NYSE:RTX) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,413 shares of the company’s stock after selling 1,259 shares during the quarter. Kentucky Retirement Systems’ holdings in RTX were worth $10,578,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its holdings in shares of RTX by 545.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after purchasing an additional 2,094,834 shares during the last quarter. International Assets Investment Management LLC grew its position in RTX by 11,235.6% in the third quarter. International Assets Investment Management LLC now owns 1,701,013 shares of the company’s stock worth $206,095,000 after acquiring an additional 1,686,007 shares in the last quarter. Jennison Associates LLC grew its position in RTX by 190.7% in the fourth quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock worth $175,202,000 after acquiring an additional 993,273 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of RTX by 4.8% during the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock valued at $2,238,004,000 after buying an additional 852,183 shares during the period. Finally, Janus Henderson Group PLC boosted its position in shares of RTX by 256.6% during the third quarter. Janus Henderson Group PLC now owns 976,527 shares of the company’s stock valued at $118,309,000 after buying an additional 702,699 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RTX has been the subject of several recent analyst reports. Barclays boosted their target price on RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Morgan Stanley boosted their target price on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and boosted their target price for the company from $132.00 to $153.00 in a research report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their target price on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Susquehanna boosted their price target on RTX from $139.00 to $147.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and an average price target of $163.07.

RTX Stock Performance

Shares of NYSE:RTX opened at $125.25 on Friday. The company has a market capitalization of $166.85 billion, a price-to-earnings ratio of 35.28, a price-to-earnings-growth ratio of 2.12 and a beta of 0.82. RTX Co. has a 52 week low of $88.90 and a 52 week high of $132.43. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average of $121.38 and a 200 day moving average of $120.83.

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

RTX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is presently 70.99%.

Insider Transactions at RTX

In other news, EVP Dantaya M. Williams sold 14,031 shares of the business’s stock in a transaction 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 $5,739,750.45. The trade was a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.13% 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.