State of Alaska Department of Revenue Cuts Stock Holdings in RTX Co. (NYSE:RTX)

State of Alaska Department of Revenue cut its stake in shares of RTX Co. (NYSE:RTX) by 1.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 151,749 shares of the company’s stock after selling 2,800 shares during the quarter. State of Alaska Department of Revenue’s holdings in RTX were worth $17,560,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in RTX. Adero Partners LLC grew its position in RTX by 3.7% during the fourth quarter. Adero Partners LLC now owns 8,401 shares of the company’s stock valued at $972,000 after acquiring an additional 300 shares during the period. Bleakley Financial Group LLC lifted its stake in shares of RTX by 9.8% in the 4th quarter. Bleakley Financial Group LLC now owns 44,144 shares of the company’s stock valued at $5,108,000 after purchasing an additional 3,950 shares in the last quarter. Trilogy Capital Inc. grew its holdings in shares of RTX by 80.2% during the 4th quarter. Trilogy Capital Inc. now owns 4,616 shares of the company’s stock worth $534,000 after purchasing an additional 2,054 shares during the period. Inman Jager Wealth Management LLC purchased a new position in RTX in the fourth quarter valued at approximately $304,000. Finally, Tyche Wealth Partners LLC lifted its position in RTX by 14.9% during the fourth quarter. Tyche Wealth Partners LLC now owns 16,423 shares of the company’s stock valued at $1,900,000 after buying an additional 2,130 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors and hedge funds.

RTX Stock Performance

Shares of RTX stock opened at $129.12 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.74 and a current ratio of 0.99. RTX Co. has a 1 year low of $88.90 and a 1 year high of $132.43. The firm’s 50-day simple moving average is $119.70 and its 200-day simple moving average is $119.83. The firm has a market cap of $171.86 billion, a PE ratio of 36.37, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Equities analysts forecast that RTX Co. will post 6.12 earnings per share for the current fiscal year.

RTX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, February 21st. This represents a $2.52 annualized dividend and a yield of 1.95%. RTX’s payout ratio is 70.99%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RTX shares. StockNews.com raised shares of RTX from a “hold” rating to a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their price objective on RTX from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Vertical Research upgraded RTX to a “strong-buy” rating in a research note on Tuesday, January 28th. Citigroup raised RTX from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Finally, Morgan Stanley increased their price objective on shares of RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $163.07.

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.