Retirement Systems of Alabama Invests $26.66 Million in RTX Co. (NYSE:RTX)

Retirement Systems of Alabama acquired a new position in RTX Co. (NYSE:RTX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 316,899 shares of the company’s stock, valued at approximately $26,664,000.

A number of other institutional investors have also made changes to their positions in the business. Cary Street Partners Investment Advisory LLC raised its position in RTX by 26.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock worth $10,077,000 after acquiring an additional 28,910 shares in the last quarter. Rockline Wealth Management LLC bought a new position in shares of RTX in the fourth quarter valued at about $2,438,000. B&D White Capital Company LLC bought a new position in shares of RTX in the third quarter valued at about $14,186,000. PDS Planning Inc bought a new position in shares of RTX in the fourth quarter valued at about $356,000. Finally, Cullen Investment Group LTD. bought a new position in shares of RTX in the fourth quarter valued at about $843,000. Institutional investors own 86.50% of the company’s stock.

Analyst Upgrades and Downgrades

RTX has been the topic of several research analyst reports. Royal Bank of Canada increased their price objective on shares of RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd. Bank of America increased their price objective on shares of RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. UBS Group increased their price objective on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Susquehanna upped their price target on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a research note on Wednesday, April 24th. Finally, Barclays upped their price target on shares of RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. 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 MarketBeat.com, RTX has an average rating of “Hold” and an average target price of $96.27.

Insider Transactions at RTX

In other news, COO Christopher T. Calio sold 367 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the transaction, the chief operating officer now owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Christopher T. Calio sold 367 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the transaction, the chief operating officer now owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total transaction of $3,233,232.64. Following the completion of the transaction, the insider now directly owns 6,741 shares of the company’s stock, valued at approximately $614,711.79. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,785 shares of company stock valued at $3,448,188. 0.13% of the stock is currently owned by insiders.

RTX Trading Up 0.3 %

Shares of RTX stock opened at $101.69 on Monday. The company has a market capitalization of $135.20 billion, a price-to-earnings ratio of 39.77, a PEG ratio of 1.83 and a beta of 0.88. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. RTX Co. has a 12-month low of $68.56 and a 12-month high of $103.89. The firm’s 50-day moving average price is $95.57 and its two-hundred day moving average price is $87.71.

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

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Friday, February 23rd were issued a $0.59 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.32%. RTX’s dividend payout ratio (DPR) is currently 92.55%.

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.