RTX Corporation (NYSE:RTX) Holdings Boosted by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its position in shares of RTX Corporation (NYSE:RTX) by 7.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 99,953 shares of the company’s stock after purchasing an additional 7,337 shares during the period. Illinois Municipal Retirement Fund’s holdings in RTX were worth $13,240,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 10Elms LLP purchased a new position in shares of RTX during the 4th quarter valued at $29,000. Fairway Wealth LLC purchased a new position in shares of RTX during the 4th quarter valued at $31,000. Picton Mahoney Asset Management grew its holdings in shares of RTX by 2,944.4% during the 4th quarter. Picton Mahoney Asset Management now owns 274 shares of the company’s stock valued at $31,000 after acquiring an additional 265 shares in the last quarter. Greenline Partners LLC purchased a new position in shares of RTX during the 4th quarter valued at $34,000. Finally, Millstone Evans Group LLC purchased a new position in shares of RTX during the 4th quarter valued at $39,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

RTX Stock Up 1.0%

Shares of RTX opened at $142.74 on Friday. The company has a 50-day simple moving average of $134.55 and a 200-day simple moving average of $128.11. The firm has a market capitalization of $190.69 billion, a P/E ratio of 41.86, a P/E/G ratio of 2.56 and a beta of 0.63. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.01. RTX Corporation has a 52 week low of $99.07 and a 52 week high of $149.26.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.12. The business had revenue of $20.31 billion during the quarter, compared to analyst estimates of $19.80 billion. RTX had a net margin of 5.63% and a return on equity of 12.71%. On average, equities research analysts expect that RTX Corporation will post 6.11 earnings per share for the current year.

RTX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were paid a $0.68 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.72 dividend on an annualized basis and a yield of 1.91%. This is a boost from RTX’s previous quarterly dividend of $0.63. RTX’s payout ratio is presently 79.77%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of RTX from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Robert W. Baird upgraded shares of RTX from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $136.00 to $160.00 in a report on Wednesday, March 19th. Benchmark raised shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Wednesday, May 14th. UBS Group lifted their price objective on shares of RTX from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Finally, DZ Bank raised shares of RTX from a “sell” rating to a “hold” rating and set a $129.00 price objective for the company in a research note on Friday, April 25th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $161.12.

Insider Activity at RTX

In other RTX news, VP Amy L. Johnson sold 4,146 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $127.54, for a total transaction of $528,780.84. Following the sale, the vice president now directly owns 9,546 shares of the company’s stock, valued at approximately $1,217,496.84. This represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dantaya M. Williams sold 16,922 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $137.62, for a total transaction of $2,328,805.64. Following the sale, the executive vice president now directly owns 16,538 shares in the company, valued at $2,275,959.56. This represents a 50.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by insiders.

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.