RTX Co. (NYSE:RTX) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lowered its stake in RTX Co. (NYSE:RTX) by 7.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 274,285 shares of the company’s stock after selling 22,615 shares during the quarter. Texas Permanent School Fund Corp’s holdings in RTX were worth $26,751,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Biechele Royce Advisors acquired a new stake in RTX in the first quarter worth about $248,000. Howland Capital Management LLC lifted its holdings in RTX by 63.0% in the first quarter. Howland Capital Management LLC now owns 20,929 shares of the company’s stock worth $2,041,000 after purchasing an additional 8,092 shares during the period. DAVENPORT & Co LLC lifted its holdings in RTX by 39.5% in the first quarter. DAVENPORT & Co LLC now owns 719,167 shares of the company’s stock worth $70,126,000 after purchasing an additional 203,648 shares during the period. Buck Wealth Strategies LLC acquired a new stake in RTX in the first quarter worth about $816,000. Finally, Signaturefd LLC lifted its holdings in RTX by 2.2% in the first quarter. Signaturefd LLC now owns 32,335 shares of the company’s stock worth $3,154,000 after purchasing an additional 692 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

RTX Stock Up 1.1 %

Shares of RTX traded up $1.06 during trading hours on Thursday, reaching $101.74. The company’s stock had a trading volume of 7,592,411 shares, compared to its average volume of 7,509,102. The firm has a market cap of $135.26 billion, a price-to-earnings ratio of 39.90, a P/E/G ratio of 1.76 and a beta of 0.82. RTX Co. has a 1-year low of $68.56 and a 1-year high of $108.65. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average of $104.24 and a two-hundred day moving average of $96.64.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. RTX had a return on equity of 10.81% and a net margin of 4.90%. The firm had revenue of $19.30 billion for the quarter, compared to the consensus estimate of $18.44 billion. During the same quarter in the prior year, the company posted $1.22 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. As a group, research analysts predict that RTX Co. will post 5.39 EPS for the current fiscal year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 16th will be issued a $0.63 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.48%. RTX’s dividend payout ratio is currently 98.82%.

Insider Buying and Selling

In related news, insider Stephen J. Timm sold 19,880 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total value of $2,101,713.60. Following the transaction, the insider now owns 149,050 shares in the company, valued at $15,757,566. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other RTX news, insider Stephen J. Timm sold 19,880 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $105.72, for a total transaction of $2,101,713.60. Following the completion of the sale, the insider now owns 149,050 shares of the company’s stock, valued at $15,757,566. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Kelly Ortberg sold 10,295 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $101.97, for a total value of $1,049,781.15. Following the sale, the director now directly owns 129,120 shares of the company’s stock, valued at approximately $13,166,366.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,937 shares of company stock worth $12,256,952. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of research analyst reports. Citigroup upped their price target on shares of RTX from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Wells Fargo & Company upped their price target on shares of RTX from $119.00 to $141.00 and gave the company an “overweight” rating in a report on Friday, May 17th. UBS Group upped their price target on shares of RTX from $103.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. TD Cowen upped their price target on shares of RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Finally, Robert W. Baird upped their price target on shares of RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, RTX presently has an average rating of “Hold” and an average price target of $98.33.

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.