Kentucky Retirement Systems Insurance Trust Fund Cuts Stake in RTX Co. (NYSE:RTX)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in RTX Co. (NYSE:RTX) by 8.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,385 shares of the company’s stock after selling 3,497 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in RTX were worth $4,772,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Briaud Financial Planning Inc increased its holdings in RTX by 64.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 256 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the last quarter. Lynx Investment Advisory bought a new position in RTX during the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. bought a new stake in RTX in the 2nd quarter worth approximately $32,000. Fairfield Financial Advisors LTD bought a new stake in RTX in the second quarter worth $41,000. Finally, Western Pacific Wealth Management LP bought a new position in RTX during the third quarter valued at $41,000. 86.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RTX shares. TD Cowen upgraded shares of RTX to a “strong-buy” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. upped their price objective on RTX from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Wells Fargo & Company dropped their target price on RTX from $491.00 to $467.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. UBS Group increased their price target on RTX from $126.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Barclays lifted their price objective on shares of RTX from $108.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $177.27.

RTX Stock Up 0.2 %

NYSE:RTX opened at $118.53 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.99 and a quick ratio of 0.73. The firm has a market cap of $157.76 billion, a PE ratio of 33.86, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. The company has a 50-day moving average of $122.20 and a 200 day moving average of $113.39. RTX Co. has a 1-year low of $78.00 and a 1-year high of $128.70.

RTX (NYSE:RTX) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.11. The firm had revenue of $20.09 billion for the quarter, compared to the consensus estimate of $19.84 billion. RTX had a net margin of 5.97% and a return on equity of 11.96%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $1.25 earnings per share. As a group, research analysts anticipate that RTX Co. will post 5.56 EPS for the current fiscal year.

RTX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Friday, November 15th. RTX’s dividend payout ratio (DPR) is currently 72.00%.

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.