Kentucky Retirement Systems Insurance Trust Fund Invests $5.12 Million in RTX Corporation (NYSE:RTX)

Kentucky Retirement Systems Insurance Trust Fund bought a new position in RTX Corporation (NYSE:RTX - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 38,682 shares of the company's stock, valued at approximately $5,124,000.

A number of other institutional investors have also added to or reduced their stakes in RTX. 10Elms LLP bought a new position in RTX in the 4th quarter worth about $29,000. Fairway Wealth LLC purchased a new position in shares of RTX in the 4th quarter worth about $31,000. Picton Mahoney Asset Management boosted its holdings in shares of RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after purchasing an additional 265 shares in the last quarter. Greenline Partners LLC purchased a new position in shares of RTX in the 4th quarter worth about $34,000. Finally, Millstone Evans Group LLC purchased a new position in shares of RTX in the 4th quarter worth about $39,000. 86.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of research reports. JPMorgan Chase & Co. cut their price objective on RTX from $150.00 to $145.00 and set an "overweight" rating for the company in a report on Monday, April 28th. The Goldman Sachs Group upped their price objective on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday. Royal Bank Of Canada cut their price objective on RTX from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, Wells Fargo & Company increased their target price on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a report on Tuesday, April 15th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $161.12.

Insider Transactions at RTX

In related news, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the completion of the transaction, the executive vice president now owns 16,538 shares of the company's stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the sale, the vice president now directly owns 9,546 shares of the company's stock, valued at approximately $1,217,496.84. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company's stock.

RTX Stock Down 0.4%

Shares of NYSE:RTX traded down $0.56 during trading on Wednesday, hitting $141.29. The stock had a trading volume of 10,393,865 shares, compared to its average volume of 5,396,956. RTX Corporation has a 12 month low of $99.07 and a 12 month high of $149.26. The company has a market capitalization of $188.76 billion, a PE ratio of 41.43, a PEG ratio of 2.56 and a beta of 0.63. The firm's fifty day moving average is $134.28 and its 200 day moving average is $127.93. The company has a quick ratio of 0.75, a current ratio of 1.01 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.71% and a net margin of 5.63%. The firm had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. Analysts anticipate that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a $0.68 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.72 annualized dividend and a dividend yield of 1.93%. This is a positive change from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio is currently 79.77%.

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.