Kentucky Retirement Systems Sells 576 Shares of RTX Co. (NYSE:RTX)

Kentucky Retirement Systems decreased its holdings in RTX Co. (NYSE:RTX) by 0.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,187 shares of the company’s stock after selling 576 shares during the period. Kentucky Retirement Systems’ holdings in RTX were worth $10,058,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of RTX. Briaud Financial Planning Inc boosted its position in RTX by 64.1% during the second quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Lynx Investment Advisory purchased a new position in shares of RTX in the second quarter worth about $26,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of RTX during the second quarter worth about $32,000. Fairman Group LLC acquired a new stake in shares of RTX during the fourth quarter worth about $38,000. Finally, Beaird Harris Wealth Management LLC boosted its position in RTX by 42.2% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 468 shares of the company’s stock valued at $39,000 after buying an additional 139 shares during the last quarter. Institutional investors own 86.50% of the company’s stock.

Insider Activity at RTX

In other RTX news, CEO Christopher T. Calio sold 4,235 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $114.00, for a total value of $482,790.00. Following the transaction, the chief executive officer now directly owns 88,509 shares of the company’s stock, valued at approximately $10,090,026. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Shane G. Eddy sold 6,741 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $114.76, for a total transaction of $773,597.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher T. Calio sold 4,235 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $114.00, for a total transaction of $482,790.00. Following the completion of the transaction, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,333 shares of company stock valued at $20,861,880. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on RTX. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the company from $110.00 to $140.00 in a report on Wednesday, July 31st. The Goldman Sachs Group lifted their price objective on RTX from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. upped their target price on RTX from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada lifted their price target on RTX from $102.00 to $115.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $157.31.

RTX Price Performance

Shares of RTX stock opened at $118.03 on Thursday. The stock has a market capitalization of $157.01 billion, a P/E ratio of 46.29, a PEG ratio of 2.10 and a beta of 0.82. The business has a 50 day simple moving average of $114.84 and a two-hundred day simple moving average of $105.89. RTX Co. has a 12 month low of $68.56 and a 12 month high of $123.70. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.73.

RTX (NYSE:RTX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The company had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. During the same quarter last year, the firm posted $1.29 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, analysts predict that RTX Co. will post 5.45 EPS for the current fiscal year.

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.