South Dakota Investment Council Sells 4,300 Shares of RTX Co. (NYSE:RTX)

South Dakota Investment Council reduced its position in RTX Co. (NYSE:RTX) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,471 shares of the company’s stock after selling 4,300 shares during the period. South Dakota Investment Council’s holdings in RTX were worth $11,988,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new stake in RTX in the 4th quarter valued at $25,000. Planned Solutions Inc. purchased a new stake in RTX in the 4th quarter valued at $30,000. Strengthening Families & Communities LLC purchased a new stake in RTX in the 3rd quarter valued at $28,000. Financial Gravity Asset Management Inc. raised its position in RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock valued at $32,000 after buying an additional 345 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of RTX during the 4th quarter valued at $38,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

RTX Price Performance

NYSE RTX traded down $0.22 during trading hours on Tuesday, hitting $101.34. The company had a trading volume of 8,567,400 shares, compared to its average volume of 8,264,439. RTX Co. has a 52 week low of $68.56 and a 52 week high of $103.89. The firm has a 50 day simple moving average of $94.97 and a 200 day simple moving average of $87.12. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.04. The firm has a market capitalization of $134.75 billion, a price-to-earnings ratio of 45.24, a PEG ratio of 1.85 and a beta of 0.88.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, January 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. The firm had revenue of $19.93 billion during the quarter, compared to the consensus estimate of $19.74 billion. RTX had a return on equity of 10.34% and a net margin of 4.64%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the company posted $1.27 EPS. Equities research analysts expect that RTX Co. will post 5.39 earnings per share for the current year.

RTX Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RTX. TD Cowen raised their target price on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $120.00 target price on shares of RTX in a research report on Monday, April 1st. Robert W. Baird raised their target price on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Bank of America raised RTX from an “underperform” rating to a “neutral” rating and raised their target price for the company from $78.00 to $100.00 in a research report on Thursday, January 25th. Finally, Barclays raised their target price on RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $93.40.

Insider Buying and Selling

In related news, insider Shane G. Eddy sold 35,456 shares of the business’s 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 in the company, valued at approximately $614,711.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other RTX news, EVP Ramsaran Maharajh sold 312 shares of RTX stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.17, for a total value of $28,757.04. Following the transaction, the executive vice president now directly owns 11,676 shares of the company’s stock, valued at approximately $1,076,176.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shane G. Eddy sold 35,456 shares of RTX 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 transaction, the insider now directly owns 6,741 shares in the company, valued at $614,711.79. The disclosure for this sale can be found here. Insiders sold 37,785 shares of company stock worth $3,448,188 in the last quarter. 0.13% of the stock is owned by insiders.

RTX Company 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.