Strs Ohio Invests $93.28 Million in RTX Corporation $RTX

Key Points

• Strs Ohio invested approximately $93.28 million in RTX Corporation during the first quarter, acquiring 704,225 shares and representing about 0.05% of the company.
• Major institutional investors, including Nuveen LLC and Goldman Sachs Group Inc., have significantly increased their positions in RTX, with Nuveen acquiring nearly $916.74 million worth of shares.
• Analysts have raised their price targets for RTX, with Citigroup setting a new target at $182.00, and the stock currently holding a consensus rating of "Moderate Buy."

Strs Ohio purchased a new position in shares of RTX Corporation (NYSE:RTX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 704,225 shares of the company's stock, valued at approximately $93,282,000. Strs Ohio owned approximately 0.05% of RTX as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RTX. Nuveen LLC bought a new position in shares of RTX in the first quarter valued at $916,739,000. GAMMA Investing LLC lifted its holdings in RTX by 14,838.5% during the 1st quarter. GAMMA Investing LLC now owns 4,163,218 shares of the company's stock valued at $551,460,000 after purchasing an additional 4,135,349 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in RTX by 28.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,385,201 shares of the company's stock valued at $845,784,000 after purchasing an additional 1,394,918 shares during the last quarter. Vanguard Group Inc. lifted its holdings in RTX by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company's stock valued at $15,873,541,000 after purchasing an additional 1,357,328 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in shares of RTX by 1,178.2% during the first quarter. 1832 Asset Management L.P. now owns 1,212,353 shares of the company's stock worth $160,588,000 after buying an additional 1,117,506 shares in the last quarter. 86.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Philip J. Jasper sold 12,847 shares of the stock in a transaction 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 sale, the insider directly owned 17,684 shares of the company's stock, valued at approximately $2,790,888.88. This represents a 42.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total value of $222,604.12. Following the completion of the sale, the executive vice president directly owned 13,184 shares of the company's stock, valued at $2,007,395.84. The trade was a 9.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,635 shares of company stock worth $8,947,010 in the last three months. 0.15% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Sanford C. Bernstein lifted their target price on RTX from $154.00 to $157.00 and gave the stock a "market perform" rating in a report on Wednesday. Cowen reiterated a "buy" rating on shares of RTX in a research report on Friday, May 23rd. Citigroup lifted their target price on RTX from $148.00 to $182.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Benchmark upgraded RTX from a "hold" rating to a "buy" rating and set a $140.00 target price on the stock in a research report on Wednesday, May 14th. Finally, Jefferies Financial Group restated a "hold" rating on shares of RTX in a report on Monday, July 21st. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $158.87.

RTX Price Performance

RTX stock opened at $154.88 on Thursday. The stock has a market capitalization of $207.32 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 2.80 and a beta of 0.67. RTX Corporation has a 52-week low of $112.27 and a 52-week high of $161.26. The stock's 50 day moving average price is $154.20 and its two-hundred day moving average price is $140.15. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.11. RTX had a return on equity of 12.89% and a net margin of 7.35%.The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. During the same period in the prior year, the firm earned $1.41 earnings per share. RTX's revenue for the quarter was up 9.4% on a year-over-year basis. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. On average, equities analysts predict that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 15th were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, August 15th. RTX's dividend payout ratio is presently 59.78%.

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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