Retirement Systems of Alabama Has $37.92 Million Stock Position in RTX Corporation (NYSE:RTX)

Retirement Systems of Alabama lowered its holdings in shares of RTX Corporation (NYSE:RTX - Free Report) by 0.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 286,260 shares of the company's stock after selling 1,918 shares during the period. Retirement Systems of Alabama's holdings in RTX were worth $37,918,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake 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 acquiring an additional 1,252,448 shares during the period. Geode Capital Management LLC grew its stake 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 acquiring an additional 1,000,722 shares during the period. Fisher Asset Management LLC grew its stake in RTX by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company's stock valued at $2,204,198,000 after acquiring an additional 576,214 shares during the period. Franklin Resources Inc. grew its stake 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 acquiring an additional 603,159 shares during the period. Finally, Norges Bank acquired a new stake in RTX in the fourth quarter valued at approximately $1,745,644,000. Institutional investors and hedge funds own 86.50% of the company's stock.

Analyst Ratings Changes

RTX has been the subject of a number of research reports. Wells Fargo & Company raised their price objective on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a research note on Tuesday, April 15th. 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 research note 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. DZ Bank upgraded RTX from a "sell" rating to a "hold" rating and set a $129.00 target price on the stock in a report on Friday, April 25th. Finally, UBS Group raised their target price on RTX from $133.00 to $138.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, RTX currently has an average rating of "Moderate Buy" and an average price target of $159.82.

Insiders Place Their Bets

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the firm's 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 $1,217,496.84. This trade represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the sale, the executive vice president now directly owns 16,538 shares of the company's stock, valued at $2,275,959.56. This represents 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.

RTX Stock Performance

Shares of RTX stock opened at $146.75 on Friday. The business's fifty day simple moving average is $133.43 and its 200 day simple moving average is $127.42. The firm has a market capitalization of $196.05 billion, a P/E ratio of 43.04, a price-to-earnings-growth ratio of 2.64 and a beta of 0.63. RTX Corporation has a 12 month low of $99.07 and a 12 month high of $149.26. The company has a current ratio of 1.01, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60.

RTX (NYSE:RTX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $1.47 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 for the quarter, compared to analyst estimates of $19.80 billion. As a group, analysts anticipate that RTX Corporation will post 6.11 EPS for the current year.

RTX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were given a $0.68 dividend. This is an increase from RTX's previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Friday, May 23rd. RTX's dividend payout ratio (DPR) 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.

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