Maryland State Retirement & Pension System Raises Stock Holdings in RTX Corporation $RTX

Maryland State Retirement & Pension System boosted its holdings in RTX Corporation (NYSE:RTX) by 4.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 65,028 shares of the company’s stock after acquiring an additional 2,845 shares during the period. Maryland State Retirement & Pension System’s holdings in RTX were worth $9,495,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of RTX. Vanguard Group Inc. increased its position in shares of RTX by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 119,836,487 shares of the company’s stock valued at $15,873,541,000 after purchasing an additional 1,357,328 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of RTX by 1.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,351,568 shares of the company’s stock valued at $1,371,171,000 after purchasing an additional 104,139 shares during the last quarter. Invesco Ltd. increased its position in shares of RTX by 1.5% during the 1st quarter. Invesco Ltd. now owns 10,312,313 shares of the company’s stock valued at $1,365,969,000 after purchasing an additional 154,544 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of RTX by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,713,131 shares of the company’s stock valued at $1,021,623,000 after purchasing an additional 65,493 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of RTX during the 1st quarter valued at about $916,739,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

RTX Trading Down 0.5%

RTX stock opened at $168.47 on Thursday. RTX Corporation has a 1-year low of $112.27 and a 1-year high of $170.85. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 0.75. The company has a market capitalization of $225.50 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 3.12 and a beta of 0.66. The business has a 50 day simple moving average of $158.89 and a two-hundred day simple moving average of $144.61.

RTX (NYSE:RTX) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.11. The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.68 billion. RTX had a return on equity of 12.89% and a net margin of 7.35%.The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.41 EPS. RTX has set its FY 2025 guidance at 5.800-5.950 EPS. Research analysts anticipate that RTX Corporation will post 6.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RTX shares. Morgan Stanley upped their price target on shares of RTX from $165.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Susquehanna boosted their price objective on RTX from $160.00 to $175.00 and gave the company a “positive” rating in a research note on Wednesday, July 23rd. Sanford C. Bernstein boosted their price objective on RTX from $157.00 to $181.00 and gave the company a “market perform” rating in a research note on Monday. Jefferies Financial Group reiterated a “hold” rating on shares of RTX in a research note on Monday, July 21st. Finally, Wall Street Zen downgraded RTX from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $164.13.

Insider Activity

In other news, insider Philip J. Jasper sold 12,847 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $157.82, for a total transaction of $2,027,513.54. Following the completion of the transaction, the insider directly owned 17,684 shares in the company, valued at approximately $2,790,888.88. This represents a 42.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ramsaran Maharajh sold 1,462 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $152.26, for a total value of $222,604.12. Following the transaction, the executive vice president owned 13,184 shares of the company’s stock, valued at $2,007,395.84. This represents a 9.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,635 shares of company stock worth $8,947,010. 0.15% of the stock is owned by corporate insiders.

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.