Louisiana State Employees Retirement System Cuts Stock Position in RTX Co. (NYSE:RTX)

Louisiana State Employees Retirement System trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 71,600 shares of the company’s stock after selling 3,300 shares during the period. Louisiana State Employees Retirement System’s holdings in RTX were worth $8,286,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. acquired a new stake in shares of RTX in the third quarter valued at about $29,000. Modus Advisors LLC purchased a new position in RTX in the 4th quarter worth approximately $39,000. Comprehensive Financial Planning Inc. PA acquired a new stake in RTX in the fourth quarter valued at approximately $40,000. Western Pacific Wealth Management LP purchased a new stake in shares of RTX during the third quarter valued at approximately $41,000. Finally, Iron Horse Wealth Management LLC lifted its position in shares of RTX by 296.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock worth $43,000 after purchasing an additional 279 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other RTX news, EVP Dantaya M. Williams sold 14,031 shares of the company’s 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 in the company, valued at $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is owned by corporate insiders.

RTX Stock Up 0.6 %

Shares of NYSE:RTX opened at $129.01 on Wednesday. The company’s fifty day moving average is $120.40 and its two-hundred day moving average is $120.49. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a 1-year low of $88.90 and a 1-year high of $132.43. The stock has a market capitalization of $171.86 billion, a price-to-earnings ratio of 36.34, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82.

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

RTX Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.95%. RTX’s dividend payout ratio is currently 70.99%.

Analyst Ratings Changes

RTX has been the subject of a number of recent analyst reports. Vertical Research raised shares of RTX to a “strong-buy” rating in a report on Tuesday, January 28th. Argus upgraded RTX from a “hold” rating to a “buy” rating in a research note on Tuesday. Royal Bank of Canada increased their price target on RTX from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. raised their price objective on RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, UBS Group upped their target price on RTX from $128.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. 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’s stock. According to MarketBeat.com, RTX has a consensus rating of “Moderate Buy” and a consensus target price of $163.07.

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.