RTX Co. (NYSE:RTX) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its stake in RTX Co. (NYSE:RTX) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,165,385 shares of the company’s stock after selling 43,777 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of RTX worth $141,198,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Manning & Napier Advisors LLC bought a new position in shares of RTX in the second quarter valued at approximately $30,837,000. O Shaughnessy Asset Management LLC increased its position in shares of RTX by 126.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 175,682 shares of the company’s stock valued at $17,134,000 after purchasing an additional 98,248 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of RTX by 16.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after buying an additional 11,354 shares in the last quarter. Cetera Investment Advisers boosted its stake in RTX by 174.0% during the first quarter. Cetera Investment Advisers now owns 365,483 shares of the company’s stock valued at $35,646,000 after buying an additional 232,103 shares in the last quarter. Finally, Susquehanna International Securities Ltd. acquired a new position in RTX during the second quarter worth about $602,000. Institutional investors own 86.50% of the company’s stock.

RTX Stock Down 0.4 %

RTX traded down $0.48 on Wednesday, reaching $122.31. 295,294 shares of the company traded hands, compared to its average volume of 6,702,757. RTX Co. has a 52-week low of $78.00 and a 52-week high of $128.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The company has a market cap of $162.80 billion, a price-to-earnings ratio of 48.15, a PEG ratio of 2.17 and a beta of 0.82. The stock’s 50 day moving average price is $121.98 and its 200-day moving average price is $111.75.

RTX (NYSE:RTX) last posted its quarterly earnings results 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 business had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. RTX’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.25 earnings per share. On average, sell-side analysts expect that RTX Co. will post 5.57 EPS for the current fiscal year.

RTX Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.06%. RTX’s payout ratio is 98.82%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RTX shares. Wells Fargo & Company cut their price target on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. StockNews.com upgraded shares of RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Alembic Global Advisors upgraded RTX from a “neutral” rating to an “overweight” rating and set a $134.00 price objective for the company in a research report on Tuesday, July 30th. Bank of America upgraded RTX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $140.00 in a report on Wednesday, July 31st. Finally, Melius Research upped their target price on RTX from $490.00 to $493.00 in a report on Wednesday, July 24th. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $177.27.

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.