RTX Corporation (NYSE:RTX) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in RTX Corporation (NYSE:RTX - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,685,803 shares of the company's stock after selling 16,500 shares during the quarter. New York State Common Retirement Fund owned approximately 0.13% of RTX worth $223,301,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. MorganRosel Wealth Management LLC acquired a new position in shares of RTX in the first quarter worth about $26,000. 10Elms LLP bought a new stake in RTX in the fourth quarter valued at about $29,000. Picton Mahoney Asset Management increased its holdings in RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock valued at $31,000 after buying an additional 265 shares during the last quarter. Greenline Partners LLC bought a new stake in RTX in the fourth quarter valued at about $34,000. Finally, Millstone Evans Group LLC bought a new stake in RTX in the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Insiders Place Their Bets

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total transaction of $528,780.84. Following the completion of the transaction, the vice president directly owned 9,546 shares of the company's stock, valued at approximately $1,217,496.84. This trade represents a 30.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the transaction, the executive vice president directly owned 16,538 shares of the company's stock, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on RTX. Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Susquehanna lowered their price objective on RTX from $147.00 to $140.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered 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. Cowen reissued a "buy" rating on shares of RTX in a report on Friday, May 23rd. Finally, Morgan Stanley raised RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price objective for the company in a report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $161.12.

RTX Stock Performance

RTX stock traded up $0.40 on Friday, reaching $146.80. The company's stock had a trading volume of 3,468,750 shares, compared to its average volume of 5,283,474. RTX Corporation has a 52 week low of $101.52 and a 52 week high of $149.26. The company has a market capitalization of $196.12 billion, a P/E ratio of 43.05, a price-to-earnings-growth ratio of 2.73 and a beta of 0.64. The firm has a fifty day moving average of $139.16 and a two-hundred day moving average of $130.40. 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 (NYSE:RTX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.12. RTX had a return on equity of 12.71% and a net margin of 5.63%. The business had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. As a group, analysts predict that RTX Corporation will post 6.11 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.85%. RTX's payout ratio is currently 79.77%.

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.