Teacher Retirement System of Texas Buys 161,757 Shares of RTX Co. (NYSE:RTX)

Teacher Retirement System of Texas raised its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 45.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 521,575 shares of the company's stock after purchasing an additional 161,757 shares during the quarter. Teacher Retirement System of Texas' holdings in RTX were worth $60,357,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of RTX. Avior Wealth Management LLC increased its holdings in RTX by 1.4% in the third quarter. Avior Wealth Management LLC now owns 8,134 shares of the company's stock valued at $980,000 after buying an additional 114 shares during the last quarter. Segall Bryant & Hamill LLC raised its position in shares of RTX by 20.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 118,758 shares of the company's stock valued at $14,389,000 after acquiring an additional 20,385 shares in the last quarter. Jennison Associates LLC lifted its stake in RTX by 15.3% during the third quarter. Jennison Associates LLC now owns 520,742 shares of the company's stock worth $63,093,000 after purchasing an additional 69,285 shares during the last quarter. Cornerstone Advisors LLC boosted its holdings in RTX by 2.7% in the third quarter. Cornerstone Advisors LLC now owns 90,700 shares of the company's stock worth $10,989,000 after purchasing an additional 2,400 shares during the period. Finally, Intech Investment Management LLC increased its stake in RTX by 32.7% during the third quarter. Intech Investment Management LLC now owns 50,497 shares of the company's stock valued at $6,118,000 after purchasing an additional 12,445 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other news, EVP Ramsaran Maharajh sold 19,431 shares of RTX stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $126.82, for a total value of $2,464,239.42. Following the transaction, the executive vice president now directly owns 29,742 shares in the company, valued at approximately $3,771,880.44. The trade was a 39.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total value of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares of the company's stock, valued at approximately $10,625,382.88. The trade was a 25.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock valued at $10,309,302 over the last quarter. Insiders own 0.15% of the company's stock.

RTX Stock Up 0.9 %

RTX stock traded up $1.15 during trading hours on Tuesday, hitting $135.84. The company had a trading volume of 3,989,259 shares, compared to its average volume of 5,370,216. The firm's fifty day moving average is $127.48 and its 200-day moving average is $122.66. The firm has a market capitalization of $181.36 billion, a P/E ratio of 38.26, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. RTX Co. has a fifty-two week low of $95.27 and a fifty-two week high of $135.74. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74.

RTX (NYSE:RTX - Get Free Report) last issued its earnings results 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 return on equity of 12.45% and a net margin of 5.91%. On average, research analysts forecast that RTX Co. will post 6.11 earnings per share for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Friday, February 21st. RTX's dividend payout ratio is presently 70.99%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RTX. Citigroup upgraded RTX from a "neutral" rating to a "buy" rating and lifted their target price for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Royal Bank of Canada boosted their price objective on RTX from $140.00 to $150.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Morgan Stanley raised their price objective on shares of RTX from $130.00 to $135.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised shares of RTX from a "hold" rating to a "buy" rating and increased their target price for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company lifted their price target on shares of RTX from $151.00 to $156.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $166.40.

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.