State of Michigan Retirement System Buys 700 Shares of RTX Corporation $RTX

State of Michigan Retirement System raised its stake in RTX Corporation (NYSE:RTX) by 0.2% during the second quarter, HoldingsChannel.com reports. The fund owned 392,232 shares of the company’s stock after purchasing an additional 700 shares during the quarter. State of Michigan Retirement System’s holdings in RTX were worth $57,274,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Brookwood Investment Group LLC purchased a new position in shares of RTX in the 1st quarter worth $1,288,000. LBP AM SA grew its stake in shares of RTX by 17.7% in the 1st quarter. LBP AM SA now owns 279,179 shares of the company’s stock worth $36,980,000 after buying an additional 41,990 shares in the last quarter. Arizona State Retirement System grew its stake in shares of RTX by 1.4% in the 1st quarter. Arizona State Retirement System now owns 390,617 shares of the company’s stock worth $51,741,000 after buying an additional 5,356 shares in the last quarter. Redwood Financial Network Corp purchased a new position in shares of RTX in the 1st quarter worth $243,000. Finally, Zuckerman Investment Group LLC grew its stake in shares of RTX by 54.1% in the 1st quarter. Zuckerman Investment Group LLC now owns 5,790 shares of the company’s stock worth $767,000 after buying an additional 2,033 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Insider Activity at RTX

In related news, EVP Neil G. Mitchill, Jr. sold 4,849 shares of RTX stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $180.15, for a total transaction of $873,547.35. Following the completion of the sale, the executive vice president owned 59,556 shares in the company, valued at $10,729,013.40. This trade represents a 7.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Troy D. Brunk sold 7,654 shares of RTX stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $155.20, for a total transaction of $1,187,900.80. Following the sale, the insider owned 16,442 shares of the company’s stock, valued at $2,551,798.40. The trade was a 31.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 51,318 shares of company stock worth $8,238,388. Corporate insiders own 0.15% of the company’s stock.

RTX Trading Up 0.7%

Shares of RTX opened at $178.70 on Friday. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $181.31. The company has a 50-day moving average of $163.32 and a 200 day moving average of $149.61. The firm has a market capitalization of $239.60 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 2.79 and a beta of 0.66. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.07 and a quick ratio of 0.81.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.29. RTX had a net margin of 7.67% and a return on equity of 13.28%. The company had revenue of $22.48 billion during the quarter, compared to analyst estimates of $21.26 billion. During the same quarter last year, the business posted $1.45 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. RTX has set its FY 2025 guidance at 6.100-6.200 EPS. On average, research analysts expect that RTX Corporation will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Friday, November 21st will be issued a dividend of $0.68 per share. The ex-dividend date is Friday, November 21st. This represents a $2.72 dividend on an annualized basis and a yield of 1.5%. RTX’s dividend payout ratio (DPR) is presently 55.85%.

Analyst Ratings Changes

A number of equities analysts recently commented on RTX shares. Wall Street Zen raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Barclays lifted their price target on shares of RTX from $130.00 to $153.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 29th. Susquehanna lifted their price target on shares of RTX from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, October 22nd. Sanford C. Bernstein lifted their price target on shares of RTX from $157.00 to $181.00 and gave the stock a “market perform” rating in a research note on Monday, October 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $195.00 price target on shares of RTX in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $178.47.

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.