New York State Teachers Retirement System Trims Stock Holdings in RTX Corporation (NYSE:RTX)

New York State Teachers Retirement System lowered its holdings in RTX Corporation (NYSE:RTX - Free Report) by 2.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,137,059 shares of the company's stock after selling 30,111 shares during the period. New York State Teachers Retirement System owned about 0.09% of RTX worth $150,615,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in RTX by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock valued at $13,710,408,000 after purchasing an additional 1,252,448 shares during the last quarter. Geode Capital Management LLC boosted its holdings in RTX by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 28,264,502 shares of the company's stock valued at $3,263,610,000 after purchasing an additional 1,000,722 shares during the last quarter. Franklin Resources Inc. boosted its holdings in RTX by 3.8% in the fourth quarter. Franklin Resources Inc. now owns 16,611,341 shares of the company's stock valued at $1,922,264,000 after purchasing an additional 603,159 shares during the last quarter. Norges Bank purchased a new position in RTX in the fourth quarter valued at about $1,745,644,000. Finally, Northern Trust Corp boosted its holdings in RTX by 8.4% in the fourth quarter. Northern Trust Corp now owns 12,912,698 shares of the company's stock valued at $1,494,257,000 after purchasing an additional 997,806 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Performance

Shares of NYSE RTX opened at $144.64 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The stock has a 50 day simple moving average of $134.87 and a 200-day simple moving average of $128.46. The company has a market cap of $193.23 billion, a PE ratio of 42.42, a P/E/G ratio of 2.61 and a beta of 0.63. RTX Corporation has a 12-month low of $99.07 and a 12-month high of $149.26.

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 the consensus estimate of $1.35 by $0.12. The business had revenue of $20.31 billion during the quarter, compared to the consensus estimate of $19.80 billion. RTX had a return on equity of 12.71% and a net margin of 5.63%. On average, equities research analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.88%. RTX's dividend payout ratio is presently 79.77%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RTX. Citigroup lowered their price objective on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Benchmark raised RTX from a "hold" rating to a "buy" rating and set a $140.00 price objective for the company in a report on Wednesday, May 14th. Baird R W raised RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. DZ Bank raised RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a report on Friday, April 25th. 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 given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $161.12.

Insider Transactions at RTX

In other news, VP Amy L. Johnson sold 4,146 shares of RTX stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total value of $528,780.84. Following the transaction, the vice president now owns 9,546 shares of the company's stock, valued at $1,217,496.84. The trade was a 30.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the business'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 sale, the executive vice president now owns 16,538 shares in the company, valued at $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. Insiders own 0.15% of the company's stock.

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.

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