Retirement Systems of Alabama Acquires Shares of 316,899 RTX Co. (NYSE:RTX)

Retirement Systems of Alabama bought a new stake in shares of RTX Co. (NYSE:RTX) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 316,899 shares of the company’s stock, valued at approximately $26,664,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RTX. Bear Mountain Capital Inc. bought a new position in shares of RTX during the fourth quarter valued at approximately $25,000. Strengthening Families & Communities LLC bought a new position in shares of RTX during the third quarter valued at approximately $28,000. Planned Solutions Inc. bought a new position in shares of RTX during the fourth quarter valued at approximately $30,000. Financial Gravity Asset Management Inc. raised its holdings in shares of RTX by 352.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after acquiring an additional 345 shares in the last quarter. Finally, Valley National Advisers Inc. raised its holdings in RTX by 37.4% in the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock worth $34,000 after purchasing an additional 127 shares in the last quarter. Institutional investors own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RTX shares. Citigroup increased their price objective on RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Susquehanna increased their price objective on RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. Bank of America increased their price objective on RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Robert W. Baird increased their price objective on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, UBS Group increased their price objective on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $96.27.

Insiders Place Their Bets

In related news, insider Shane G. Eddy sold 35,456 shares of RTX stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the sale, the insider now owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total value of $142,696.20. Following the transaction, the chief financial officer now directly owns 49,894 shares of the company’s stock, valued at $4,608,209.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,785 shares of company stock valued at $3,448,188. Insiders own 0.13% of the company’s stock.

RTX Trading Up 0.3 %

RTX stock opened at $101.69 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79. RTX Co. has a one year low of $68.56 and a one year high of $103.89. The stock has a market capitalization of $135.20 billion, a PE ratio of 39.77, a price-to-earnings-growth ratio of 1.83 and a beta of 0.88. The business’s fifty day moving average is $95.57 and its 200 day moving average is $87.71.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The company had revenue of $19.30 billion for the quarter, compared to analysts’ expectations of $18.44 billion. During the same period last year, the firm posted $1.22 earnings per share. RTX’s revenue was up 12.1% compared to the same quarter last year. On average, sell-side analysts predict that RTX Co. will post 5.39 EPS for the current year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were given a $0.59 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 annualized dividend and a yield of 2.32%. RTX’s payout ratio is 92.55%.

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.