Vestcor Inc Raises Position in RTX Corporation (NYSE:RTX)

Vestcor Inc increased its holdings in RTX Corporation (NYSE:RTX) by 4.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,747 shares of the company’s stock after purchasing an additional 1,149 shares during the quarter. Vestcor Inc’s holdings in RTX were worth $3,410,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in RTX. Brighton Jones LLC grew its holdings in shares of RTX by 24.3% during the fourth quarter. Brighton Jones LLC now owns 17,018 shares of the company’s stock valued at $1,969,000 after buying an additional 3,332 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of RTX by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,873 shares of the company’s stock valued at $564,000 after buying an additional 159 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of RTX by 51.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 262,074 shares of the company’s stock valued at $30,327,000 after buying an additional 88,604 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of RTX during the fourth quarter valued at approximately $590,000. Finally, Diametric Capital LP purchased a new stake in shares of RTX during the fourth quarter valued at approximately $302,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Insider Transactions at RTX

In related news, VP Amy L. Johnson sold 4,146 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $127.54, for a total value of $528,780.84. Following the completion of the transaction, the vice president owned 9,546 shares in the company, valued at $1,217,496.84. This trade represents a 30.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Dantaya M. Williams sold 16,922 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $137.62, for a total value of $2,328,805.64. Following the completion of the transaction, the executive vice president owned 16,538 shares of the company’s stock, valued at $2,275,959.56. This trade represents a 50.57% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,234 shares of company stock worth $4,439,755. Corporate insiders own 0.15% of the company’s stock.

RTX Stock Performance

Shares of RTX opened at $158.51 on Thursday. RTX Corporation has a 12-month low of $112.27 and a 12-month high of $158.79. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The business’s fifty day moving average price is $144.73 and its 200 day moving average price is $133.67. The stock has a market capitalization of $212.17 billion, a PE ratio of 34.84, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64.

RTX (NYSE:RTX) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $1.41 earnings per share. Equities research analysts forecast that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 15th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.72%. RTX’s dividend payout ratio is currently 59.78%.

Analyst Upgrades and Downgrades

RTX has been the subject of a number of recent analyst reports. UBS Group lifted their price target on shares of RTX from $166.00 to $177.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Benchmark raised shares of RTX from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research note on Wednesday, May 14th. Susquehanna boosted their price objective on shares of RTX from $160.00 to $175.00 and gave the company a “positive” rating in a research report on Wednesday, July 23rd. The Goldman Sachs Group boosted their price objective on shares of RTX from $114.00 to $126.00 and gave the company a “neutral” rating in a research report on Monday, June 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of RTX from $145.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $158.67.

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.