Illinois Municipal Retirement Fund Has $3.30 Million Stake in RTX Co. (NYSE:RTX)

Illinois Municipal Retirement Fund lowered its stake in shares of RTX Co. (NYSE:RTX) by 20.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 39,162 shares of the company’s stock after selling 9,798 shares during the period. Illinois Municipal Retirement Fund’s holdings in RTX were worth $3,295,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bear Mountain Capital Inc. purchased a new position in shares of RTX in the 4th quarter worth approximately $25,000. Strengthening Families & Communities LLC purchased a new position in shares of RTX in the 3rd quarter worth approximately $28,000. Planned Solutions Inc. purchased a new position in shares of RTX in the 4th quarter worth approximately $30,000. Financial Gravity Asset Management Inc. boosted its stake in shares of RTX by 352.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 443 shares of the company’s stock worth $32,000 after buying an additional 345 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its stake in RTX by 37.4% in the third quarter. Valley National Advisers Inc. now owns 467 shares of the company’s stock valued at $34,000 after purchasing an additional 127 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

Insider Activity

In related news, COO Christopher T. Calio sold 367 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the transaction, the chief operating officer now directly owns 56,707 shares in the company, valued at approximately $5,252,769.41. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, COO Christopher T. Calio sold 367 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the transaction, the chief operating officer now directly owns 56,707 shares in the company, valued at approximately $5,252,769.41. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Neil G. Mitchill, Jr. sold 1,545 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $92.36, for a total transaction of $142,696.20. Following the completion of the transaction, the chief financial officer now owns 49,894 shares of the company’s stock, valued at $4,608,209.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,785 shares of company stock worth $3,448,188. Insiders own 0.13% of the company’s stock.

RTX Stock Down 0.4 %

NYSE RTX opened at $101.02 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 0.78. The stock has a market capitalization of $134.32 billion, a PE ratio of 39.62, a PEG ratio of 1.84 and a beta of 0.88. RTX Co. has a 1 year low of $68.56 and a 1 year high of $103.89. The business’s 50-day moving average is $95.16 and its 200 day moving average is $87.21.

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

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Friday, February 23rd were given a dividend of $0.59 per share. The ex-dividend date was Thursday, February 22nd. This represents a $2.36 annualized dividend and a yield of 2.34%. RTX’s payout ratio is 92.55%.

Wall Street Analysts Forecast Growth

RTX has been the topic of several research analyst reports. Robert W. Baird upped their price objective on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Susquehanna boosted their target price on shares of RTX from $110.00 to $119.00 and gave the company a “positive” rating in a report on Wednesday. Citigroup upped their price target on shares of RTX from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday. Barclays raised their price target on RTX from $75.00 to $90.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 30th. Finally, Bank of America raised their price target on RTX from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $96.27.

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.