Illinois Municipal Retirement Fund Sells 29,624 Shares of RTX Corporation $RTX

Illinois Municipal Retirement Fund lessened its holdings in RTX Corporation (NYSE:RTX) by 29.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,329 shares of the company’s stock after selling 29,624 shares during the period. Illinois Municipal Retirement Fund’s holdings in RTX were worth $10,269,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. PFS Partners LLC increased its position in shares of RTX by 101.1% during the 2nd quarter. PFS Partners LLC now owns 177 shares of the company’s stock valued at $26,000 after purchasing an additional 89 shares during the last quarter. LFA Lugano Financial Advisors SA purchased a new position in shares of RTX in the 2nd quarter worth about $29,000. Access Investment Management LLC bought a new position in RTX during the second quarter valued at about $31,000. BOK Financial Private Wealth Inc. increased its holdings in RTX by 45.3% during the second quarter. BOK Financial Private Wealth Inc. now owns 250 shares of the company’s stock worth $37,000 after buying an additional 78 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in RTX in the first quarter worth about $40,000. 86.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RTX has been the subject of a number of research reports. Susquehanna increased their target price on shares of RTX from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. upped their price objective on RTX from $145.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Jefferies Financial Group reissued a “hold” rating on shares of RTX in a report on Monday, July 21st. Royal Bank Of Canada restated an “outperform” rating and issued a $170.00 target price (up from $165.00) on shares of RTX in a research note on Wednesday, July 23rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of RTX in a research report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $178.47.

Insider Activity

In related news, insider Shane G. Eddy sold 25,968 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $159.79, for a total value of $4,149,426.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Neil G. Mitchill, Jr. sold 4,849 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $180.15, for a total transaction of $873,547.35. Following the completion of the sale, the executive vice president directly owned 59,556 shares in the company, valued at $10,729,013.40. This represents a 7.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.15% of the company’s stock.

RTX Price Performance

RTX stock opened at $179.02 on Tuesday. The firm has a 50 day moving average of $165.40 and a 200-day moving average of $151.99. The firm has a market capitalization of $240.03 billion, a P/E ratio of 36.76, a price-to-earnings-growth ratio of 2.79 and a beta of 0.64. RTX Corporation has a 12 month low of $112.27 and a 12 month high of $181.31. The company has a current ratio of 1.07, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, October 21st. The company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.29. The business had revenue of $22.48 billion for the quarter, compared to analysts’ expectations of $21.26 billion. RTX had a net margin of 7.67% and a return on equity of 13.28%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.45 EPS. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. As a group, sell-side analysts predict that RTX Corporation will post 6.11 earnings per share for the current fiscal year.

RTX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Friday, November 21st will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, November 21st. RTX’s dividend payout ratio is currently 55.85%.

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.