Maryland State Retirement & Pension System Has $9.45 Million Position in RTX Co. (NYSE:RTX)

Maryland State Retirement & Pension System reduced its stake in RTX Co. (NYSE:RTX) by 0.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 112,258 shares of the company’s stock after selling 300 shares during the quarter. Maryland State Retirement & Pension System’s holdings in RTX were worth $9,445,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC increased its position in RTX by 26.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 140,022 shares of the company’s stock worth $10,077,000 after buying an additional 28,910 shares during the period. Mather Group LLC. increased its position in RTX by 8.5% in the 4th quarter. Mather Group LLC. now owns 13,703 shares of the company’s stock worth $1,153,000 after buying an additional 1,079 shares during the period. Rockline Wealth Management LLC bought a new position in RTX in the 4th quarter worth approximately $2,438,000. AllGen Financial Advisors Inc. increased its position in RTX by 12.8% in the 4th quarter. AllGen Financial Advisors Inc. now owns 32,325 shares of the company’s stock worth $2,720,000 after buying an additional 3,657 shares during the period. Finally, B&D White Capital Company LLC bought a new stake in shares of RTX during the third quarter valued at approximately $14,186,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other RTX news, COO Christopher T. Calio sold 367 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $92.63, for a total value of $33,995.21. Following the completion of the sale, the chief operating officer now directly owns 56,707 shares in the company, valued at $5,252,769.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Gregory Hayes sold 89,762 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $101.44, for a total transaction of $9,105,457.28. Following the completion of the transaction, the chief executive officer now directly owns 636,759 shares of the company’s stock, valued at $64,592,832.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Christopher T. Calio sold 367 shares of the 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 transaction, the chief operating officer now directly owns 56,707 shares of the company’s stock, valued at $5,252,769.41. The disclosure for this sale can be found here. Insiders sold 137,842 shares of company stock worth $13,603,426 over the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

RTX Trading Up 1.0 %

NYSE:RTX traded up $1.03 during mid-day trading on Tuesday, hitting $102.94. The company had a trading volume of 2,642,347 shares, compared to its average volume of 8,045,735. RTX Co. has a fifty-two week low of $68.56 and a fifty-two week high of $103.89. The business’s fifty day moving average is $96.94 and its two-hundred day moving average is $88.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.79 and a current ratio of 1.07. The firm has a market cap of $136.86 billion, a P/E ratio of 39.89, a P/E/G ratio of 1.83 and a beta of 0.84.

RTX (NYSE:RTX) last released its earnings results 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. 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 analyst estimates of $18.44 billion. During the same quarter in the prior year, the firm posted $1.22 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, research analysts expect that RTX Co. will post 5.4 earnings per share for the current year.

RTX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 17th will be issued a $0.63 dividend. This is an increase from RTX’s previous quarterly dividend of $0.59. This represents a $2.52 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Thursday, May 16th. RTX’s dividend payout ratio is 92.55%.

Analysts Set New Price Targets

RTX has been the topic of a number of research reports. Royal Bank of Canada boosted their price objective on RTX from $82.00 to $88.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd. TD Cowen upped their price target on RTX from $106.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. TheStreet upgraded RTX from a “c” rating to a “b-” rating in a research report on Tuesday, January 23rd. Barclays upped their price target on RTX from $90.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. Finally, Robert W. Baird upped their price target on RTX from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $96.93.

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.