Maryland State Retirement & Pension System Decreases Stake in RTX Corporation (NYSE:RTX)

Key Points

• The Maryland State Retirement & Pension System has reduced its stake in RTX Corporation by 13.3%, now holding 62,183 shares worth approximately $8.24 million.
• Insiders at RTX have been actively selling shares, with a total of 39,935 shares sold recently, amounting to about $5.94 million in transactions over the past 90 days.
• RTX announced a quarterly dividend of $0.68 per share, reflecting a dividend yield of 1.7%, set to be paid to shareholders on September 4th.

Maryland State Retirement & Pension System reduced its stake in RTX Corporation (NYSE:RTX - Free Report) by 13.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,183 shares of the company's stock after selling 9,524 shares during the period. Maryland State Retirement & Pension System's holdings in RTX were worth $8,237,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of RTX. Brighton Jones LLC increased its stake 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 purchasing an additional 3,332 shares during the period. Revolve Wealth Partners LLC increased its stake in RTX by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company's stock worth $564,000 after purchasing an additional 159 shares during the period. Grantham Mayo Van Otterloo & Co. LLC increased its stake in RTX by 2.7% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 9,876 shares of the company's stock worth $1,143,000 after purchasing an additional 258 shares during the period. Federated Hermes Inc. increased its stake in RTX by 22.4% in the 4th quarter. Federated Hermes Inc. now owns 225,633 shares of the company's stock worth $26,110,000 after purchasing an additional 41,250 shares during the period. Finally, Trek Financial LLC purchased a new position in shares of RTX during the fourth quarter valued at approximately $230,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Ramsaran Maharajh sold 1,462 shares of RTX stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $152.26, for a total value of $222,604.12. Following the completion of the transaction, the executive vice president owned 13,184 shares in the company, valued at approximately $2,007,395.84. The trade was a 9.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Philip J. Jasper sold 12,847 shares of RTX stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $157.82, for a total value of $2,027,513.54. Following the completion of the transaction, the insider owned 17,684 shares of the company's stock, valued at approximately $2,790,888.88. This trade represents a 42.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,935 shares of company stock worth $5,938,488 in the last 90 days. Company insiders own 0.15% of the company's stock.

RTX Stock Performance

NYSE RTX opened at $155.89 on Thursday. The stock has a market capitalization of $208.67 billion, a PE ratio of 34.26, a P/E/G ratio of 2.88 and a beta of 0.69. The business has a 50 day simple moving average of $147.09 and a two-hundred day simple moving average of $134.95. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $158.79.

RTX (NYSE:RTX - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.11. The business had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.41 EPS. On average, research analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.7%. RTX's dividend payout ratio (DPR) is 59.78%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Susquehanna boosted their target price on RTX from $160.00 to $175.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd. Wall Street Zen cut RTX from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. UBS Group upped their price target on RTX from $166.00 to $177.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. The Goldman Sachs Group boosted their target price on RTX from $114.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Finally, Jefferies Financial Group reissued a "hold" rating on shares of RTX in a report on Monday, July 21st. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, RTX currently has a consensus rating of "Moderate Buy" and a consensus target price of $158.67.

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.

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