Illinois Municipal Retirement Fund Grows Position in RTX Co. (NYSE:RTX)

Illinois Municipal Retirement Fund boosted its stake in RTX Co. (NYSE:RTX) by 136.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 92,616 shares of the company’s stock after purchasing an additional 53,454 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in RTX were worth $10,718,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RTX. MidAtlantic Capital Management Inc. acquired a new position in RTX during the third quarter valued at approximately $29,000. Western Pacific Wealth Management LP acquired a new position in RTX during the third quarter valued at approximately $41,000. Modus Advisors LLC acquired a new position in RTX during the fourth quarter valued at approximately $39,000. Comprehensive Financial Planning Inc. PA acquired a new position in RTX during the fourth quarter valued at approximately $40,000. Finally, Iron Horse Wealth Management LLC lifted its position in RTX by 296.8% during the fourth quarter. Iron Horse Wealth Management LLC now owns 373 shares of the company’s stock valued at $43,000 after buying an additional 279 shares in the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at RTX

In related news, EVP Dantaya M. Williams sold 14,031 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $129.23, for a total value of $1,813,226.13. Following the completion of the transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. This represents a 24.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by insiders.

RTX Stock Up 1.5 %

RTX stock opened at $127.30 on Wednesday. The company has a 50-day simple moving average of $121.84 and a 200-day simple moving average of $121.13. The firm has a market capitalization of $169.58 billion, a P/E ratio of 35.86, a P/E/G ratio of 2.11 and a beta of 0.82. 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 one year low of $88.95 and a one year high of $132.43.

RTX (NYSE:RTX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.35 by $0.19. RTX had a net margin of 5.91% and a return on equity of 12.45%. As a group, equities analysts expect that RTX Co. will post 6.11 earnings per share for the current year.

RTX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 21st will be given a $0.63 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.52 dividend on an annualized basis and a yield of 1.98%. RTX’s dividend payout ratio is presently 70.99%.

Analysts Set New Price Targets

A number of research analysts have recently commented on RTX shares. UBS Group raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $142.00 to $147.00 in a research report on Monday. Citigroup raised shares of RTX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $132.00 to $153.00 in a research report on Tuesday, January 21st. Wells Fargo & Company boosted their target price on shares of RTX from $151.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Barclays boosted their target price on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Bank of America boosted their target price on shares of RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, RTX presently has an average rating of “Moderate Buy” and an average price target of $163.40.

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.