State of Alaska Department of Revenue Boosts Stock Position in RTX Corporation (NYSE:RTX)

State of Alaska Department of Revenue increased its position in shares of RTX Corporation (NYSE:RTX - Free Report) by 2.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 156,079 shares of the company's stock after purchasing an additional 4,330 shares during the quarter. State of Alaska Department of Revenue's holdings in RTX were worth $20,674,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of RTX by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 118,479,159 shares of the company's stock valued at $13,710,408,000 after buying an additional 1,252,448 shares during the period. Geode Capital Management LLC lifted 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 worth $3,263,610,000 after acquiring an additional 1,000,722 shares during the last quarter. Fisher Asset Management LLC grew its holdings in RTX by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company's stock worth $2,204,198,000 after acquiring an additional 576,214 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of RTX by 3.8% in the 4th 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 in the last quarter. Finally, Norges Bank purchased a new stake in RTX during the fourth quarter worth approximately $1,745,644,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on RTX shares. Cowen reissued a "buy" rating on shares of RTX in a report on Friday, May 23rd. DZ Bank upgraded shares of RTX from a "sell" rating to a "hold" rating and set a $129.00 price objective for the company in a research note on Friday, April 25th. UBS Group increased their price target on RTX from $133.00 to $138.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Susquehanna dropped their target price on RTX from $147.00 to $140.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company upped their price objective on RTX from $136.00 to $144.00 and gave the company an "overweight" rating in a report on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $159.82.

Insider Buying and Selling at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the business's stock in a transaction dated 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 directly owns 9,546 shares in the company, valued at $1,217,496.84. The trade was a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dantaya M. Williams sold 16,922 shares of the firm'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 sale, the executive vice president now directly owns 16,538 shares of the company's stock, valued at approximately $2,275,959.56. The trade was a 50.57% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

RTX Stock Performance

Shares of RTX opened at $148.50 on Wednesday. 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 one year low of $99.07 and a one year high of $149.56. The company's fifty day moving average price is $132.34 and its 200 day moving average price is $126.91. The company has a market capitalization of $198.39 billion, a PE ratio of 43.55, a price-to-earnings-growth ratio of 2.65 and a beta of 0.63.

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

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were paid a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a yield of 1.83%. This is an increase from RTX's previous quarterly dividend of $0.63. RTX's payout ratio is currently 79.77%.

RTX 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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