Maryland State Retirement & Pension System Sells 4,984 Shares of RTX Co. (NYSE:RTX)

Maryland State Retirement & Pension System cut its stake in shares of RTX Co. (NYSE:RTX) by 6.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 71,707 shares of the company’s stock after selling 4,984 shares during the quarter. Maryland State Retirement & Pension System’s holdings in RTX were worth $8,298,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. MidAtlantic Capital Management Inc. bought a new stake in RTX during the third quarter worth $29,000. Chesapeake Wealth Management raised its holdings in shares of RTX by 10.7% in the 3rd quarter. Chesapeake Wealth Management now owns 10,126 shares of the company’s stock valued at $1,227,000 after purchasing an additional 979 shares during the period. Meeder Asset Management Inc. lifted its stake in RTX by 3,872.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 29,518 shares of the company’s stock valued at $3,576,000 after purchasing an additional 28,775 shares during the last quarter. Prospera Financial Services Inc grew its holdings in RTX by 3.6% during the third quarter. Prospera Financial Services Inc now owns 72,700 shares of the company’s stock worth $8,813,000 after purchasing an additional 2,537 shares during the period. Finally, BIP Wealth LLC increased its position in RTX by 37.2% during the third quarter. BIP Wealth LLC now owns 6,576 shares of the company’s stock worth $797,000 after buying an additional 1,784 shares during the last quarter. 86.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RTX has been the subject of several research analyst reports. Vertical Research upgraded RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. upped their price objective on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Wells Fargo & Company raised their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating and upped their price target for the company from $142.00 to $147.00 in a research note on Monday, February 24th. Finally, Susquehanna raised their price objective on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $163.40.

RTX Trading Up 0.4 %

Shares of NYSE:RTX opened at $132.57 on Wednesday. The company has a market capitalization of $176.99 billion, a P/E ratio of 37.34, a P/E/G ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The business’s 50 day simple moving average is $126.04 and its 200 day simple moving average is $122.30. RTX Co. has a 1 year low of $94.03 and a 1 year high of $135.36.

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

RTX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 1.90%. RTX’s dividend payout ratio is 70.99%.

Insider Activity at RTX

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.35, for a total transaction of $2,100,981.30. Following the sale, the chief financial officer now directly owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the transaction, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,831 shares of company stock valued at $10,309,302 over the last three months. 0.13% of the stock is owned by insiders.

RTX Company 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.