Alaska Permanent Fund Corp Invests $42,000 in RTX Co. (NYSE:RTX)

Alaska Permanent Fund Corp purchased a new position in shares of RTX Co. (NYSE:RTX) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 429 shares of the company’s stock, valued at approximately $42,000.

Several other large investors also recently made changes to their positions in RTX. Capital Research Global Investors boosted its stake in RTX by 23.7% during the 4th quarter. Capital Research Global Investors now owns 90,430,489 shares of the company’s stock valued at $7,608,822,000 after purchasing an additional 17,351,313 shares during the period. Capital International Investors boosted its stake in RTX by 20.6% during the 4th quarter. Capital International Investors now owns 65,233,410 shares of the company’s stock valued at $5,488,752,000 after purchasing an additional 11,163,222 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in RTX by 82.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock valued at $1,288,157,000 after purchasing an additional 6,932,011 shares during the period. Sanders Capital LLC boosted its stake in RTX by 6.8% during the 4th quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock valued at $898,147,000 after purchasing an additional 677,520 shares during the period. Finally, Norges Bank bought a new stake in RTX during the 4th quarter valued at approximately $690,154,000. Institutional investors own 86.50% of the company’s stock.

Insider Activity

In other news, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the sale, the insider now directly owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Stephen J. Timm sold 19,880 shares of RTX stock in a transaction on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the completion of the sale, the insider now directly owns 149,050 shares of the company’s stock, valued at approximately $15,757,566. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory Hayes sold 89,762 shares of RTX stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $101.44, for a total value of $9,105,457.28. Following the completion of the sale, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,937 shares of company stock valued at $12,256,952. Company insiders own 0.13% of the company’s stock.

RTX Trading Up 0.5 %

RTX stock opened at $105.61 on Friday. The business has a fifty day moving average price of $104.38 and a 200 day moving average price of $94.89. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $108.65. The stock has a market capitalization of $140.41 billion, a price-to-earnings ratio of 41.42, a P/E/G ratio of 1.84 and a beta of 0.83. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.79.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm had revenue of $19.30 billion during the quarter, compared to analysts’ expectations of $18.44 billion. During the same period last year, the firm posted $1.22 EPS. The business’s revenue was up 12.1% on a year-over-year basis. Analysts expect that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be paid a $0.63 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 2.39%. RTX’s dividend payout ratio (DPR) is currently 98.82%.

Analyst Ratings Changes

Several brokerages recently weighed in on RTX. Bank of America increased their target price on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. TD Cowen raised their price objective on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. UBS Group raised their price objective on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Barclays raised their price objective on RTX from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 30th. Finally, Wells Fargo & Company raised their price objective on RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $98.33.

RTX Company 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.