Retirement Systems of Alabama Reduces Stock Position in RTX Co. (NYSE:RTX)

Retirement Systems of Alabama cut its stake in RTX Co. (NYSE:RTX) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 291,244 shares of the company’s stock after selling 2,031 shares during the quarter. Retirement Systems of Alabama’s holdings in RTX were worth $35,287,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RTX. LRI Investments LLC increased its position in shares of RTX by 6.5% during the third quarter. LRI Investments LLC now owns 77,543 shares of the company’s stock valued at $9,221,000 after buying an additional 4,732 shares during the period. Napa Wealth Management purchased a new position in RTX during the third quarter valued at approximately $1,307,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in RTX by 16.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,994 shares of the company’s stock worth $9,510,000 after acquiring an additional 11,354 shares during the period. Kennebec Savings Bank purchased a new stake in RTX in the 3rd quarter worth approximately $953,000. Finally, Point72 Hong Kong Ltd boosted its holdings in RTX by 83.5% in the 3rd quarter. Point72 Hong Kong Ltd now owns 82,803 shares of the company’s stock valued at $10,032,000 after purchasing an additional 37,671 shares during the period. 86.50% of the stock is currently owned by institutional investors.

RTX Trading Up 1.5 %

Shares of RTX stock opened at $117.76 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The business has a 50-day moving average of $121.49 and a 200 day moving average of $115.41. The stock has a market capitalization of $156.74 billion, a PE ratio of 33.65, a P/E/G ratio of 2.07 and a beta of 0.80. RTX Co. has a 1-year low of $79.67 and a 1-year high of $128.70.

RTX (NYSE:RTX) last issued 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 net margin of 5.97% and a return on equity of 11.96%. The firm had revenue of $20.09 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter last year, the business earned $1.25 earnings per share. The business’s revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts anticipate that RTX Co. will post 5.56 earnings per share for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Friday, November 15th. RTX’s dividend payout ratio (DPR) is 72.00%.

Analyst Ratings Changes

A number of brokerages recently issued reports on RTX. Citigroup increased their price objective on RTX from $122.00 to $132.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. StockNews.com upgraded RTX from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Wells Fargo & Company raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft raised shares of RTX from a “sell” rating to a “hold” rating and boosted their price target for the stock from $109.00 to $129.00 in a research note on Thursday, October 3rd. Finally, Barclays raised their price objective on shares of RTX from $108.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.27.

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.