Louisiana State Employees Retirement System Sells 300 Shares of RTX Co. (NYSE:RTX)

Louisiana State Employees Retirement System decreased its stake in RTX Co. (NYSE:RTX) by 0.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 74,900 shares of the company’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in RTX were worth $9,075,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of RTX. Capital Research Global Investors grew its holdings in RTX by 4.2% during the first quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock valued at $9,186,520,000 after purchasing an additional 3,761,246 shares during the period. Capital International Investors grew its stake in shares of RTX by 4.8% during the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock worth $6,670,523,000 after acquiring an additional 3,161,165 shares during the period. Clearbridge Investments LLC increased its holdings in RTX by 2.0% in the 1st quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after acquiring an additional 213,331 shares during the last quarter. Legal & General Group Plc raised its stake in RTX by 4.4% in the 2nd quarter. Legal & General Group Plc now owns 8,577,770 shares of the company’s stock valued at $861,122,000 after acquiring an additional 362,340 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in RTX by 5.2% during the second quarter. Ameriprise Financial Inc. now owns 8,284,944 shares of the company’s stock valued at $831,740,000 after purchasing an additional 408,551 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

Insider Activity at RTX

In other RTX news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $117.74, for a total value of $15,881,595.38. Following the sale, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Christopher T. Calio sold 4,235 shares of RTX stock in a transaction 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 sale, the chief executive officer now owns 88,509 shares in the company, valued at $10,090,026. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Gregory Hayes sold 134,887 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total transaction of $15,881,595.38. Following the completion of the transaction, the chairman now owns 566,723 shares of the company’s stock, valued at $66,725,966.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 145,856 shares of company stock worth $17,131,253 in the last three months. 0.13% of the stock is owned by insiders.

RTX Trading Down 0.0 %

NYSE RTX opened at $125.16 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt-to-equity ratio of 0.62. The stock’s 50-day simple moving average is $121.74 and its two-hundred day simple moving average is $111.28. RTX Co. has a twelve month low of $77.76 and a twelve month high of $128.70. The company has a market capitalization of $166.40 billion, a price-to-earnings ratio of 49.08, a PEG ratio of 2.21 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion during the quarter, compared to analyst estimates of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 EPS. Research analysts forecast that RTX Co. will post 5.5 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, November 15th. RTX’s payout ratio is 98.82%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RTX. Royal Bank of Canada lifted their price objective on shares of RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective on the stock in a research note on Tuesday, July 30th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $110.00 to $140.00 in a research note on Wednesday, July 31st. UBS Group upped their price target on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Wells Fargo & Company cut their price objective on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $168.56.

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.