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

Kentucky Retirement Systems Insurance Trust Fund acquired a new position in RTX Corporation (NYSE:RTX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 38,682 shares of the company's stock, valued at approximately $5,124,000.

Other large investors also recently added to or reduced their stakes in the company. LaFleur & Godfrey LLC raised its stake in shares of RTX by 0.5% in the fourth quarter. LaFleur & Godfrey LLC now owns 178,191 shares of the company's stock worth $20,620,000 after buying an additional 900 shares during the period. Brighton Jones LLC increased its holdings in RTX by 24.3% in the 4th quarter. Brighton Jones LLC now owns 17,018 shares of the company's stock worth $1,969,000 after acquiring an additional 3,332 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in RTX by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock worth $564,000 after acquiring an additional 159 shares during the period. Centricity Wealth Management LLC purchased a new position in RTX during the fourth quarter valued at approximately $52,000. Finally, Peregrine Asset Advisers Inc. lifted its holdings in RTX by 23.8% during the fourth quarter. Peregrine Asset Advisers Inc. now owns 4,156 shares of the company's stock valued at $481,000 after purchasing an additional 800 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

RTX Price Performance

Shares of NYSE RTX traded up $0.88 during midday trading on Friday, reaching $146.75. 9,218,508 shares of the stock traded hands, compared to its average volume of 5,413,915. The company's 50 day moving average is $133.43 and its 200 day moving average is $127.54. RTX Corporation has a one year low of $99.07 and a one year high of $149.26. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The stock has a market capitalization of $196.05 billion, a PE ratio of 43.04, a P/E/G ratio of 2.65 and a beta of 0.63.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.35 by $0.12. RTX had a net margin of 5.63% and a return on equity of 12.71%. The company had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. On average, equities research analysts anticipate that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were given a $0.68 dividend. The ex-dividend date was Friday, May 23rd. This represents a $2.72 annualized dividend and a yield of 1.85%. This is a positive change from RTX's previous quarterly dividend of $0.63. RTX's dividend payout ratio (DPR) is currently 79.77%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RTX shares. Cowen restated a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Baird R W raised RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective on the stock in a research report on Wednesday, May 14th. Wells Fargo & Company increased their target price on RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 15th. Finally, Wall Street Zen cut RTX from a "buy" rating to a "hold" rating in a report on Saturday. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, RTX currently has a consensus rating of "Moderate Buy" and a consensus price target of $159.82.

RTX Company Profile

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.