South Dakota Investment Council Reduces Stock Holdings in RTX Co. (NYSE:RTX)

South Dakota Investment Council trimmed its holdings in shares of RTX Co. (NYSE:RTX) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,471 shares of the company’s stock after selling 4,300 shares during the quarter. South Dakota Investment Council’s holdings in RTX were worth $11,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Boston Partners purchased a new stake in RTX during the 3rd quarter valued at about $355,350,000. Massachusetts Financial Services Co. MA grew its stake in RTX by 29.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,377,677 shares of the company’s stock valued at $602,941,000 after purchasing an additional 1,914,184 shares during the last quarter. Van ECK Associates Corp grew its stake in RTX by 8,331.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,766,294 shares of the company’s stock valued at $127,120,000 after purchasing an additional 1,745,344 shares during the last quarter. Sanders Capital LLC grew its stake in RTX by 20.2% during the 3rd quarter. Sanders Capital LLC now owns 9,996,918 shares of the company’s stock valued at $719,478,000 after purchasing an additional 1,682,928 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in RTX by 12,753.8% during the 4th quarter. International Assets Investment Management LLC now owns 1,400,035 shares of the company’s stock valued at $117,799,000 after purchasing an additional 1,389,143 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RTX has been the topic of a number of recent research reports. TD Cowen upped their target price on RTX from $106.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Wells Fargo & Company restated an “overweight” rating and issued a $120.00 target price on shares of RTX in a research note on Monday, April 1st. Robert W. Baird upped their target price on RTX from $94.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Barclays upped their target price on RTX from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. Finally, Bank of America upgraded RTX from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $78.00 to $100.00 in a research note on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, RTX has an average rating of “Hold” and a consensus target price of $93.40.

Insider Buying and Selling at RTX

In related news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the sale, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Shane G. Eddy sold 35,456 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $91.19, for a total value of $3,233,232.64. Following the completion of the sale, the insider now owns 6,741 shares of the company’s stock, valued at $614,711.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Christopher T. Calio sold 367 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the transaction, the chief operating officer now owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The disclosure for this sale can be found here. Insiders sold 37,785 shares of company stock valued at $3,448,188 over the last quarter. 0.13% of the stock is currently owned by insiders.

RTX Price Performance

Shares of RTX stock traded down $0.22 during mid-day trading on Tuesday, reaching $101.34. 8,567,400 shares of the stock traded hands, compared to its average volume of 8,264,439. The business has a 50-day moving average of $94.97 and a 200 day moving average of $87.12. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $103.89. The stock has a market capitalization of $134.75 billion, a PE ratio of 45.24, a PEG ratio of 1.85 and a beta of 0.88. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.69.

RTX (NYSE:RTX) last announced its earnings results on Tuesday, January 23rd. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. RTX had a return on equity of 10.34% and a net margin of 4.64%. The business had revenue of $19.93 billion during the quarter, compared to analysts’ expectations of $19.74 billion. During the same quarter in the prior year, the firm earned $1.27 earnings per share. The business’s revenue was up 10.1% compared to the same quarter last year. On average, analysts predict that RTX Co. will post 5.39 EPS for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.33%. RTX’s payout ratio is currently 105.36%.

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.