Maryland State Retirement & Pension System Has $8.30 Million Stock Position in RTX Co. (NYSE:RTX)

Maryland State Retirement & Pension System cut its position in RTX Co. (NYSE:RTX) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,707 shares of the company’s stock after selling 4,984 shares during the period. Maryland State Retirement & Pension System’s holdings in RTX were worth $8,298,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in RTX. Geode Capital Management LLC increased its holdings in RTX by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 27,263,780 shares of the company’s stock valued at $3,290,622,000 after purchasing an additional 508,344 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of RTX by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,047,685 shares of the company’s stock valued at $2,204,198,000 after buying an additional 576,214 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of RTX by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,247,429 shares of the company’s stock valued at $1,185,832,000 after buying an additional 151,474 shares during the last quarter. Bank of New York Mellon Corp lifted its position in RTX by 5.9% during the 4th quarter. Bank of New York Mellon Corp now owns 9,806,866 shares of the company’s stock worth $1,134,851,000 after buying an additional 549,814 shares in the last quarter. Finally, Amundi grew its holdings in RTX by 83.1% during the 4th quarter. Amundi now owns 6,288,559 shares of the company’s stock worth $728,964,000 after acquiring an additional 2,854,928 shares during the last quarter. 86.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RTX has been the subject of a number of research analyst reports. 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 note on Tuesday, January 21st. Argus upgraded RTX from a “hold” rating to a “buy” rating in a research report on Tuesday, February 11th. Bank of America boosted their target price on RTX from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Morgan Stanley raised their price target on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. upped their target price on shares of RTX from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $163.40.

Insider Activity

In other news, insider Troy D. Brunk sold 2,872 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $125.95, for a total value of $361,728.40. Following the sale, the insider now directly owns 5,272 shares in the company, valued at $664,008.40. The trade was a 35.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Neil G. Mitchill, Jr. sold 16,118 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $130.35, for a total value of $2,100,981.30. Following the transaction, the chief financial officer now owns 59,556 shares of the company’s stock, valued at approximately $7,763,124.60. The trade was a 21.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,831 shares of company stock worth $10,309,302 over the last quarter. 0.13% of the stock is currently owned by company insiders.

RTX Trading Up 0.4 %

Shares of NYSE RTX opened at $132.57 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. RTX Co. has a twelve month low of $94.03 and a twelve month high of $135.36. The company’s fifty day moving average is $126.04 and its 200-day moving average is $122.30. The stock has a market cap of $176.99 billion, a price-to-earnings ratio of 37.34, a P/E/G ratio of 2.11 and a beta of 0.78.

RTX (NYSE:RTX) last posted its earnings results on Tuesday, January 28th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. Equities research analysts predict that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Friday, February 21st. RTX’s payout ratio is currently 70.99%.

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.