Retirement Systems of Alabama Sells 2,031 Shares of RTX Co. (NYSE:RTX)

Retirement Systems of Alabama reduced its stake in shares of RTX Co. (NYSE:RTX) by 0.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 291,244 shares of the company’s stock after selling 2,031 shares during the quarter. Retirement Systems of Alabama’s holdings in RTX were worth $35,287,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC boosted its position in shares of RTX by 22.3% during the third quarter. Tidal Investments LLC now owns 31,671 shares of the company’s stock valued at $3,837,000 after purchasing an additional 5,767 shares in the last quarter. Blankinship & Foster LLC bought a new stake in shares of RTX during the 3rd quarter valued at $7,278,000. Wilmington Savings Fund Society FSB grew its position in shares of RTX by 365.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 115,237 shares of the company’s stock worth $13,962,000 after buying an additional 90,499 shares during the period. Sfmg LLC increased its stake in shares of RTX by 4.7% in the 3rd quarter. Sfmg LLC now owns 73,978 shares of the company’s stock worth $8,963,000 after acquiring an additional 3,306 shares in the last quarter. Finally, World Investment Advisors LLC lifted its position in RTX by 37.1% during the 3rd quarter. World Investment Advisors LLC now owns 40,809 shares of the company’s stock valued at $4,944,000 after acquiring an additional 11,033 shares during the period. 86.50% of the stock is currently owned by institutional investors.

RTX Stock Performance

RTX stock opened at $117.76 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. RTX Co. has a 1 year low of $79.67 and a 1 year high of $128.70. The company has a market cap of $156.74 billion, a P/E ratio of 33.65, a price-to-earnings-growth ratio of 2.07 and a beta of 0.80. The stock’s fifty day moving average price is $121.49 and its 200-day moving average price is $115.41.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. RTX had a return on equity of 11.96% and a net margin of 5.97%. The business had revenue of $20.09 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the previous year, the company posted $1.25 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities analysts forecast that RTX Co. will post 5.56 earnings per share for the current year.

RTX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend was Friday, November 15th. RTX’s payout ratio is 72.00%.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of analyst reports. Wells Fargo & Company raised shares of RTX from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Morgan Stanley boosted their target price on RTX from $120.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Royal Bank of Canada raised their price target on RTX from $115.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Citigroup raised their price objective on shares of RTX from $122.00 to $132.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $177.27.

About RTX

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.