State of Tennessee Department of Treasury Sells 2,451 Shares of RTX Co. (NYSE:RTX)

State of Tennessee Department of Treasury lessened its holdings in shares of RTX Co. (NYSE:RTX - Free Report) by 0.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 534,786 shares of the company's stock after selling 2,451 shares during the period. State of Tennessee Department of Treasury's holdings in RTX were worth $61,885,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Fairway Wealth LLC acquired a new position in shares of RTX in the 4th quarter valued at $31,000. Picton Mahoney Asset Management grew its holdings in RTX by 2,944.4% during 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 during the last quarter. Modus Advisors LLC acquired a new stake in shares of RTX in the fourth quarter valued at approximately $39,000. Millstone Evans Group LLC bought a new stake in shares of RTX during the fourth quarter worth $39,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in RTX during the 4th quarter valued at about $40,000. 86.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RTX has been the subject of a number of recent analyst reports. Baird R W upgraded RTX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Bank of America boosted their price target on shares of RTX from $145.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Wells Fargo & Company boosted their price objective on shares of RTX from $136.00 to $144.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 15th. Susquehanna reduced their price objective on shares of RTX from $147.00 to $140.00 and set a "positive" rating for the company in a research report on Wednesday. Finally, Citigroup reduced their price target on RTX from $153.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, RTX has an average rating of "Buy" and a consensus price target of $163.53.

RTX Price Performance

RTX traded up $6.75 on Wednesday, reaching $120.50. The stock had a trading volume of 10,455,293 shares, compared to its average volume of 5,513,516. The company has a market capitalization of $160.88 billion, a price-to-earnings ratio of 33.94, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The firm has a 50-day moving average of $128.29 and a 200-day moving average of $123.75. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63. RTX Co. has a fifty-two week low of $99.07 and a fifty-two week high of $136.17.

RTX (NYSE:RTX - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.35 by $0.12. RTX had a return on equity of 12.45% and a net margin of 5.91%. The business had revenue of $20.31 billion during the quarter, compared to analysts' expectations of $19.80 billion. As a group, sell-side analysts anticipate that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 21st were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Friday, February 21st. RTX's dividend payout ratio is currently 70.99%.

Insider Buying and Selling at RTX

In other news, CEO Christopher T. Calio sold 27,379 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total value of $3,569,126.44. Following the completion of the transaction, the chief executive officer now directly owns 81,508 shares of the company's stock, valued at $10,625,382.88. This trade represents a 25.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of RTX stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $130.35, for a total value of $2,100,981.30. Following the transaction, the chief financial officer now directly owns 59,556 shares of the company's stock, valued at $7,763,124.60. The trade was a 21.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,831 shares of company stock worth $10,309,302. Insiders own 0.15% of the company's stock.

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.