RTX Co. (NYSE:RTX) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its holdings in RTX Co. (NYSE:RTX - Free Report) by 13.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,339,255 shares of the company's stock after selling 534,209 shares during the quarter. California Public Employees Retirement System owned 0.25% of RTX worth $386,419,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Fairway Wealth LLC acquired a new position in RTX in the 4th quarter worth about $31,000. Picton Mahoney Asset Management increased its holdings in RTX by 2,944.4% in the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company's stock worth $31,000 after acquiring an additional 265 shares in the last quarter. Millstone Evans Group LLC purchased a new position in RTX during the fourth quarter valued at $39,000. Modus Advisors LLC acquired a new stake in shares of RTX in the fourth quarter valued at about $39,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in RTX in the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Stock Up 0.6 %

RTX stock traded up $0.84 during midday trading on Monday, reaching $132.56. The company's stock had a trading volume of 5,519,690 shares, compared to its average volume of 5,647,829. The business has a 50-day simple moving average of $128.59 and a 200-day simple moving average of $123.06. The company has a market cap of $176.97 billion, a P/E ratio of 37.34, a P/E/G ratio of 2.11 and a beta of 0.78. RTX Co. has a fifty-two week low of $97.03 and a fifty-two week high of $136.17. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

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RTX (NYSE:RTX - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (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 expect that RTX Co. will post 6.11 earnings per share for the current fiscal year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 21st were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Friday, February 21st. RTX's dividend payout ratio is currently 70.99%.

Analysts Set New Price Targets

A number of brokerages have commented on RTX. Vertical Research raised RTX to a "strong-buy" rating in a report on Tuesday, January 28th. Citigroup raised shares of RTX from a "neutral" rating to a "buy" rating and raised their price target for the stock from $132.00 to $153.00 in a research note on Tuesday, January 21st. Royal Bank of Canada upped their price target on RTX from $140.00 to $150.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Bank of America lifted their price objective on RTX from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Finally, Argus raised RTX from a "hold" rating to a "buy" rating in a research note on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, RTX currently has a consensus rating of "Moderate Buy" and an average target price of $166.40.

Insider Transactions at RTX

In related news, insider Troy D. Brunk sold 2,872 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total transaction of $361,728.40. Following the transaction, the insider now owns 5,272 shares of the company's stock, valued at $664,008.40. This trade represents a 35.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ramsaran Maharajh sold 19,431 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $126.82, for a total value of $2,464,239.42. Following the sale, the executive vice president now directly owns 29,742 shares of the company's stock, valued at approximately $3,771,880.44. This represents a 39.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,831 shares of company stock worth $10,309,302. Insiders own 0.15% of the company's stock.

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.