Teacher Retirement System of Texas Raises Position in RTX Co. (NYSE:RTX)

Teacher Retirement System of Texas grew its position in RTX Co. (NYSE:RTX) by 45.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 521,575 shares of the company’s stock after acquiring an additional 161,757 shares during the period. Teacher Retirement System of Texas’ holdings in RTX were worth $60,357,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Investment House LLC boosted its holdings in shares of RTX by 2.7% in the fourth quarter. Investment House LLC now owns 3,740 shares of the company’s stock valued at $433,000 after acquiring an additional 100 shares in the last quarter. Vinva Investment Management Ltd lifted its stake in shares of RTX by 206.3% in the fourth quarter. Vinva Investment Management Ltd now owns 31,462 shares of the company’s stock valued at $3,625,000 after purchasing an additional 21,189 shares during the period. North Forty Two & Co. acquired a new stake in shares of RTX in the fourth quarter valued at about $428,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of RTX in the fourth quarter valued at about $240,000. Finally, Brooklyn FI LLC acquired a new stake in shares of RTX in the fourth quarter valued at about $533,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Stock Performance

NYSE:RTX opened at $134.37 on Friday. The firm has a 50 day simple moving average of $126.80 and a 200-day simple moving average of $122.47. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.74. The firm has a market cap of $179.40 billion, a PE ratio of 37.85, a P/E/G ratio of 2.11 and a beta of 0.78. RTX Co. has a 1-year low of $94.08 and a 1-year high of $135.74.

RTX (NYSE:RTX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. On average, equities analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 21st were issued a $0.63 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.88%. RTX’s payout ratio is 70.99%.

Insider Activity at RTX

In related news, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 59,556 shares in the company, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher T. Calio sold 27,379 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the sale, the chief executive officer now owns 81,508 shares of the company’s stock, valued at approximately $10,625,382.88. This represents a 25.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,831 shares of company stock worth $10,309,302. 0.15% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on RTX shares. UBS Group upgraded shares of RTX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $142.00 to $147.00 in a research note on Monday, February 24th. Deutsche Bank Aktiengesellschaft upgraded shares of RTX from a “hold” rating to a “buy” rating and raised their price objective for the company from $131.00 to $140.00 in a research note on Thursday, January 2nd. Baird R W upgraded shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Wells Fargo & Company lifted their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, Susquehanna lifted their target price on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, RTX presently has an average rating of “Moderate Buy” and a consensus price target of $166.40.

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.