VIRGINIA RETIREMENT SYSTEMS ET Al decreased its stake in shares of RTX Corporation (NYSE:RTX – Free Report) by 19.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 186,300 shares of the company’s stock after selling 43,800 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in RTX were worth $34,167,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently modified their holdings of the company. BNP Paribas acquired a new stake in shares of RTX during the 3rd quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of RTX during the 3rd quarter worth approximately $30,000. Wexford Capital LP acquired a new stake in shares of RTX during the 3rd quarter worth approximately $33,000. Dogwood Wealth Management LLC lifted its holdings in shares of RTX by 57.3% in the 3rd quarter. Dogwood Wealth Management LLC now owns 206 shares of the company’s stock worth $34,000 after purchasing an additional 75 shares in the last quarter. Finally, Imprint Wealth LLC bought a new position in shares of RTX in the 3rd quarter worth $35,000. Institutional investors and hedge funds own 86.50% of the company’s stock.
RTX Trading Up 0.2%
NYSE RTX opened at $178.96 on Wednesday. The stock has a market capitalization of $241.00 billion, a price-to-earnings ratio of 33.58, a PEG ratio of 2.53 and a beta of 0.31. RTX Corporation has a one year low of $129.11 and a one year high of $214.50. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.02 and a quick ratio of 0.78. The business’s fifty day moving average is $193.85 and its 200-day moving average is $188.89.
RTX Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Friday, May 22nd will be issued a $0.73 dividend. This is an increase from RTX’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $2.92 annualized dividend and a yield of 1.6%. RTX’s payout ratio is 51.03%.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on RTX shares. Wall Street Zen cut RTX from a “strong-buy” rating to a “buy” rating in a report on Sunday, April 26th. Erste Group Bank cut RTX from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. Robert W. Baird set a $225.00 price objective on RTX in a research note on Wednesday, January 28th. Susquehanna restated a “positive” rating and set a $230.00 price objective on shares of RTX in a research note on Thursday, January 15th. Finally, Melius Research upgraded RTX from a “hold” rating to a “buy” rating in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $206.59.
View Our Latest Stock Analysis on RTX
Insider Buying and Selling
In related news, EVP Neil G. Mitchill, Jr. sold 35,755 shares of RTX stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $205.56, for a total value of $7,349,797.80. Following the completion of the sale, the executive vice president owned 59,556 shares of the company’s stock, valued at approximately $12,242,331.36. This trade represents a 37.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Shane G. Eddy sold 17,527 shares of RTX stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $199.16, for a total value of $3,490,677.32. The SEC filing for this sale provides additional information. Insiders have sold a total of 89,255 shares of company stock worth $18,151,956 in the last quarter. 0.10% of the stock is currently owned by company insiders.
Key RTX News
Here are the key news stories impacting RTX this week:
- Positive Sentiment: RTX’s Raytheon unit was selected to provide SeaRAM ship self-defense systems for Australia’s Sea3000 frigate program, adding another defense contract and reinforcing demand for the company’s naval systems. RTX’s Raytheon selected to provide SeaRAM for Australia’s new Mogami-class frigates
- Positive Sentiment: Collins Aerospace announced a $26.5 million expansion of its Largo, Florida facility to accelerate production of commercial aviation radars and defense security solutions, which could support revenue growth and improve capacity. RTX’s Collins Aerospace accelerates production with $26.5 million investment in Largo, Florida
- Neutral Sentiment: One article argues that investors may need to reassess RTX after its recent pullback, focusing on whether the stock’s valuation already reflects the company’s aerospace and defense strengths. Is It Time To Reassess RTX (RTX) After Recent Pullback In Aerospace And Defense Stocks
RTX Company Profile
RTX (NYSE: RTX) is a U.S.-based aerospace and defense company that designs, manufactures and services advanced systems for commercial, military and governmental customers worldwide. The company was created through the 2020 combination of Raytheon Company and United Technologies Corporation and later adopted the RTX name, positioning itself as a diversified provider across the aerospace and defense value chain.
RTX’s operations span a broad set of capabilities. Its commercial aerospace businesses include Pratt & Whitney aircraft engines and Collins Aerospace systems, which supply propulsion, avionics, aerostructures, interiors and integrated aircraft systems.
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