Kentucky Retirement Systems Sells 7,515 Shares of RTX Co. (NYSE:RTX)

Kentucky Retirement Systems decreased its position in shares of RTX Co. (NYSE:RTX - Free Report) by 7.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 92,672 shares of the company's stock after selling 7,515 shares during the quarter. Kentucky Retirement Systems' holdings in RTX were worth $11,228,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Elgethun Capital Management lifted its holdings in shares of RTX by 3.8% during the second quarter. Elgethun Capital Management now owns 2,326 shares of the company's stock valued at $233,000 after purchasing an additional 85 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC lifted its stake in RTX by 20.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 514 shares of the company's stock valued at $62,000 after acquiring an additional 86 shares during the period. Blackston Financial Advisory Group LLC boosted its holdings in shares of RTX by 3.7% during the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,403 shares of the company's stock valued at $291,000 after acquiring an additional 86 shares during the last quarter. Canal Capital Management LLC grew its stake in shares of RTX by 2.1% in the third quarter. Canal Capital Management LLC now owns 4,253 shares of the company's stock worth $515,000 after acquiring an additional 87 shares during the period. Finally, Alpha Omega Wealth Management LLC raised its holdings in shares of RTX by 0.6% during the second quarter. Alpha Omega Wealth Management LLC now owns 15,126 shares of the company's stock valued at $1,518,000 after purchasing an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.

RTX Price Performance

RTX stock traded up $0.24 during mid-day trading on Friday, hitting $118.53. The stock had a trading volume of 6,970,495 shares, compared to its average volume of 6,669,619. The company has a current ratio of 0.99, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The firm's 50 day moving average is $122.20 and its 200 day moving average is $113.47. The firm has a market capitalization of $157.77 billion, a P/E ratio of 33.87, a P/E/G ratio of 2.19 and a beta of 0.82. RTX Co. has a one year low of $78.00 and a one year high of $128.70.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The firm had revenue of $20.09 billion during the quarter, compared to analysts' expectations of $19.84 billion. During the same quarter last year, the business posted $1.25 earnings per share. The firm's revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts forecast that RTX Co. will post 5.56 earnings per share for the current fiscal year.

RTX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.13%. RTX's dividend payout ratio is 72.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RTX shares. Royal Bank of Canada lifted their target price on shares of RTX from $115.00 to $130.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 23rd. Bank of America upgraded RTX from a "neutral" rating to a "buy" rating and upped their price objective for the company from $110.00 to $140.00 in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on RTX from $110.00 to $130.00 and gave the stock an "overweight" rating in a research report on Monday, July 29th. The Goldman Sachs Group increased their price objective on shares of RTX from $94.00 to $104.00 and gave the stock a "neutral" rating in a research note on Monday, July 29th. Finally, Morgan Stanley boosted their target price on shares of RTX from $120.00 to $130.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $177.27.

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.