California State Teachers Retirement System Reduces Stock Holdings in RTX Co. (NYSE:RTX)

California State Teachers Retirement System lessened its stake in shares of RTX Co. (NYSE:RTX - Free Report) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,121,134 shares of the company's stock after selling 65,996 shares during the period. California State Teachers Retirement System owned about 0.16% of RTX worth $245,458,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Fairway Wealth LLC bought a new position in RTX in the 4th quarter valued at $31,000. Picton Mahoney Asset Management raised its position in shares of RTX by 2,944.4% in the fourth quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after buying an additional 265 shares in the last quarter. Modus Advisors LLC purchased a new stake in shares of RTX in the fourth quarter worth $39,000. Millstone Evans Group LLC purchased a new stake in shares of RTX in the fourth quarter worth $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in shares of RTX in the fourth quarter worth $40,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Performance

NYSE:RTX traded up $0.40 on Wednesday, hitting $126.13. The stock had a trading volume of 5,672,484 shares, compared to its average volume of 5,505,295. The stock has a market cap of $168.50 billion, a price-to-earnings ratio of 35.53, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The business's 50-day simple moving average is $128.37 and its two-hundred day simple moving average is $123.78. RTX Co. has a 52-week low of $99.07 and a 52-week high of $136.17.

RTX (NYSE:RTX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The firm had revenue of $20.31 billion for the quarter, compared to the consensus estimate of $19.80 billion. As a group, research analysts predict that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Friday, February 21st. RTX's dividend payout ratio (DPR) is currently 73.90%.

Insider Transactions at RTX

In other news, insider Troy D. Brunk sold 2,872 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the transaction, the insider now owns 5,272 shares of the company's stock, valued at $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Dantaya M. Williams sold 14,031 shares of RTX stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the sale, the executive vice president now directly owns 44,415 shares in the company, valued at $5,739,750.45. This trade represents a 24.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock valued at $10,309,302 over the last quarter. 0.15% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

RTX has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded RTX from a "hold" rating to a "buy" rating and raised their price target for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Vertical Research upgraded RTX to a "strong-buy" rating in a research report on Tuesday, January 28th. Robert W. Baird raised RTX from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $136.00 to $160.00 in a research note on Wednesday, March 19th. Morgan Stanley raised RTX from an "equal weight" rating to an "overweight" rating and set a $135.00 price objective on the stock in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on RTX from $150.00 to $145.00 and set an "overweight" rating on the stock in a research note on Monday. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $161.06.

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.