RTX Co. (NYSE:RTX) Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its holdings in RTX Co. (NYSE:RTX) by 136.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 92,616 shares of the company’s stock after acquiring an additional 53,454 shares during the period. Illinois Municipal Retirement Fund’s holdings in RTX were worth $10,718,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Los Angeles Capital Management LLC lifted its stake in RTX by 20.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 629,418 shares of the company’s stock valued at $72,836,000 after buying an additional 107,625 shares in the last quarter. FourThought Financial Partners LLC purchased a new stake in RTX during the fourth quarter valued at about $900,000. Bank of New York Mellon Corp lifted its stake in RTX by 5.9% during the fourth quarter. Bank of New York Mellon Corp now owns 9,806,866 shares of the company’s stock valued at $1,134,851,000 after buying an additional 549,814 shares in the last quarter. EdgeRock Capital LLC lifted its stake in RTX by 3.3% during the fourth quarter. EdgeRock Capital LLC now owns 7,013 shares of the company’s stock valued at $811,000 after buying an additional 224 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co lifted its stake in RTX by 19.6% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 20,814 shares of the company’s stock valued at $2,409,000 after buying an additional 3,412 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RTX has been the subject of a number of analyst reports. Argus raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. UBS Group upgraded RTX from a “neutral” rating to a “buy” rating and upped their target price for the company from $142.00 to $147.00 in a report on Monday. Morgan Stanley upped their target price on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Citigroup upgraded RTX from a “neutral” rating to a “buy” rating and upped their target price for the company from $132.00 to $153.00 in a report on Tuesday, January 21st. Finally, Bank of America upped their target price on RTX from $145.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $163.40.

Insider Activity

In other news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the sale, the executive vice president now directly owns 44,415 shares of the company’s stock, valued at approximately $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is owned by company insiders.

RTX Trading Up 1.5 %

Shares of RTX stock opened at $127.30 on Wednesday. RTX Co. has a 12 month low of $88.95 and a 12 month high of $132.43. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average is $121.84 and its two-hundred day moving average is $121.13. The company has a market cap of $169.58 billion, a PE ratio of 35.86, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Equities analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 21st will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.98%. RTX’s dividend payout ratio is 70.99%.

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.