State of Alaska Department of Revenue Trims Stake in RTX Co. (NYSE:RTX)

State of Alaska Department of Revenue lowered its position in RTX Co. (NYSE:RTX) by 7.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 143,959 shares of the company’s stock after selling 11,370 shares during the quarter. State of Alaska Department of Revenue’s holdings in RTX were worth $14,040,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bear Mountain Capital Inc. bought a new position in shares of RTX in the fourth quarter worth about $25,000. Planned Solutions Inc. bought a new position in shares of RTX in the fourth quarter worth about $30,000. Financial Gravity Asset Management Inc. grew its holdings in shares of RTX by 352.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 345 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new position in shares of RTX in the fourth quarter worth about $38,000. Finally, Fairman Group LLC bought a new position in shares of RTX in the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In related news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at approximately $64,592,832.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Kelly Ortberg sold 10,295 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $101.97, for a total transaction of $1,049,781.15. Following the completion of the transaction, the director now directly owns 129,120 shares of the company’s stock, valued at $13,166,366.40. The disclosure for this sale can be found here. Insiders sold 119,937 shares of company stock valued at $12,256,952 in the last three months. 0.13% of the stock is owned by insiders.

RTX Stock Up 0.3 %

NYSE:RTX opened at $100.74 on Thursday. 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 $133.93 billion, a P/E ratio of 39.51, a P/E/G ratio of 1.76 and a beta of 0.82. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The company’s 50-day simple moving average is $104.35 and its 200-day simple moving average is $95.95.

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

RTX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Friday, August 16th. RTX’s payout ratio is currently 98.82%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RTX. UBS Group upped their price target on shares of RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Susquehanna increased their target price on shares of RTX from $110.00 to $119.00 and gave the stock a “positive” rating in a report on Wednesday, April 24th. Citigroup increased their target price on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Wells Fargo & Company increased their target price on shares of RTX from $119.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. Finally, Bank of America increased their target price on shares of RTX from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $98.33.

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.